Is The Bakken a Bust?

This latest piece from Peak Oil Barrel provides additional insight into the state of decline of the Bakken oil production.

Bakken and North Dakota December 2016 oil production data

Bakken production down 86,150 barrels per day to 895,330 bpd.

Bakken and North Dakota barrel of oil per day per well

Barrels per day per well continues to drop. In December it stood an 83 in the Bakken and 72 for all North Dakota.

Between 260 and 270 wells had to be shut down and 81 new wells were brought on line.

 

Barrels of oil per day per well for various ‘vintages’

But the more surprising chart is the one above showing the barrels of oil per day per well based on the ‘vintage’ or the year the oil started flowing from those wells. All legacy wells are in decline which is normal. But notice the sharp drop in production in the 2015 vintage (almost exactly half a million barrels per day).

 

Full article: http://peakoilbarrel.com/is-the-bakken-a-bust/

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