|Major Basin Variances||This Week||+/-|
All other regions saw no net change in the active rig count.
ND active Rig count 12
Unofficial Frac crew count 2
04 2020 ND oil production 1.219 M Bbls/D vs all time high 11 2019 1.519 M Bbls/D
04 2020 ND gas Production 2.7112 Bcf/D vs all time high 03 2020 2.812 Bcf/D
Numbers indicate shut ins probably not as pervasive as initially thought. 05 2020 numbers will reveal more. Was told buy the gas marketer I use .6 Bcf/D was shut in during 05 2020.
Oil wellhead price ND light sweet ~$31 / Bbl
Nd gets $33M from the Feds for P&A of orphaned wells. Will employ 1000 laid off oilfield workers.
This chart combined with Metmikes post on the low national rig count demonstrates just how rapidly US oil production could drop at current pricing and low activity.