Pages

October 15, 2013

North Dakota Oil Production record with 911,496 barrels per day in August

North Dakota hit another oil production record with 911,496 barrels per day in August.

Aug Oil 28,248,511 barrels = 911,242 barrels/day (preliminary)(NEW all-time high)
Aug Gas 31,009,441 MCF = 1,000,305 MCF/day (preliminary)(NEW all-time high)

There will be no oil statistics from the EIA (US DOE Energy Info Administration until the shutdown is over)





Texas crude oil production is up 385,000 barrels per day from the same time last year.

Texas preliminary July 2013 crude oil production averaged 1,685,786 barrels daily, up from the 1,300,694 barrels daily average of July 2012.

The preliminary Texas crude oil production figure for July 2013 is 52,259,355 barrels, up from 40,321,511 barrels reported during July 2012.

In August, 2013 one reports indicates Texas crude oil production reached an estimated 71.1 million barrels (I believe including natural gas liquids), a 16.7 percent increase over the total for the same month one year ago.

Texas had record oil well activity in August 2013, but the oil production results for August will not be released for two more weeks.

Race the Red Queen Prediction of North Dakota Oil

As we previously noted the Race the Red Queen oil predictions were wrong.

Rune Likvern posted several articles on theOildrum which indicated that annual Bakken North Dakota oil production would not get past 600,000-700,000 bpd on an annual basis. He made this projection back in 2012 and is clearly being proven to have been wrong.

In 2013, Rune modified the projection and clearly North Dakota's Bakken oil production is tracking toward the higher 1800 wells added per year line. Look at the dotted green line that is heading towards 1 million bpd in 2015.



Some of the more prominent references to the Race the Red Queen theory of Bakken Oil

Slate had an article which stated US shale oil abundance would not happen. They used the Race the Red Queen as part of the argument. At the time US crude oil production was about 6 million barrels per day and now it is 7.75 million barrels per day.

The Motley Fool mentioned the struggles with horizontal well production decline as part of an overall positive article for US oil production.

Smart Planet referred to the Race the Red Queen in an article that predicted that US crude oil production would not pass Saudi Arabia by 2020.

The Christian Science Monitor referred to Race the Red Queen in article about 5 possible energy surprises for 2013

Reuters mentioned it in an article back in early 2013 where Race the Red Queen was already proving to be wrong.

North Dakota oil commission projects that oil production could reach 1.6 million bpd if there are no major negative developments.




If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks
blog comments powered by Disqus