Topic: North Dakota Shale

Exploring the 885 DUCs in North Dakota

What do you mean DUCs? When our clients talk about DUCs, there is a discussion about what exactly constitutes a drilled but uncompleted well. Is it drilled and cased? What is the typical timeframe of a DUC? When is the well considered temporarily abandoned? If it finished drilling last week, should that be included in the DUC count? What was the typical DUC count prior to the downturn? These questions set the table for how the company views how DUCs impact...

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Duc…Duc…Goose: Looking at North Dakota’s Uncompleted Wells and Oil Being Sold Close to $0

Earlier this week Bloomberg reported that low quality crude or sour crude is being sold for next to nothing due to lower pipeline capacity for lower quality products. The low quality crude makes up a small part of Bakken production in which some pipelines are no longer transporting. The producers of the low quality crude are being forced to use higher cost transportation methods like trucks or trains to get their products to the refineries that have the capability to...

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Horizontal Rigs Stay Flat While Vertical Rigs Drop -10.1%

The BHI land rig count declined -0.8% to 827 rigs from last week's 834. The decline this week stems from the vertical rig count, which dropped 11 rigs or -10.1% from last week's 109 rigs. The horizontal rig count stayed flat at 666 rigs and the directional rig count jumped +4 rigs to 63 from last week's 59. The Eagle Ford sank this week by -7 rigs, 4 of which were oil rigs and 3 were gas. Basins with one...

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11 Rigs Idled While E&Ps Talk Uncompleted Wells

After a fairly steady week for the commodity markets, the BHI land rig count dropped -11 rigs or -1.3% to 843 rigs from last weeks 854.The Eagle Ford felt the biggest impact this week dropping -5 rigs to 105 rigs from last week’s 510 rigs, all of which were horizontal. Cana Woodford continued to release rigs falling -3 rigs to bring the count to 35 from last weeks 38 rigs. The Permian dropped -2 gas rigs while adding just +1...

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WTI Closes at $59.15 and Only 26 Rigs Idled

As the first quarter of 2015 comes to an end, WTI closed at $59.15 and the BHI land rig count dropped -26 rigs or -2.9% compared to last week.The Permian and Eagle Ford dropped a combined -13 rigs this week to land at 348 rigs which is -52.3% since the start of 2015. The Williston basin has added +1 rig to the count this week to end at 80 rigs. Gas rigs have started a slight decline after a few...

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42 Rigs Released, US Land Rig Count Down -4.9%

The Baker Hughes US Land Rig Count declined to 937 down -4.3% this week. WTI ended this week at $51.64 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -7.4% to 264 rigs compared to last week’s 285 rigs Eagle Ford -8.8% to 125 rigs from last week at 137 rigs Williston Basin -2.2% to 89 from last week’s 91 rigs Marcellus stayed flat this week at 70 rigs Mississippian stayed flat this week at 40 rigs DJ-Niobrara -6.7% to 28 rigs compared to 30 rigs last week Utica -3.4% to...

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-1.9% Land Rig Decline, Rigs Stabilizing?

The Baker Hughes US Land Rig Count declined to 979 down -1.9% this week. Only 19 rigs were released this week, and based on the last month of rig activity, the drop in rigs may be stabilizing. WTI ended this week at $49.90 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -1.7% to 285 rigs compared to last week’s 290 rigs Eagle Ford stayed flat this week at 137 rigs Williston Basin -6.2% to 91 from last week’s 97 rigs Marcellus...

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Land Rigs down to 800 by Summer?

The Baker Hughes US Land Rig Count declined to 1,058 down -5.6% this week. WTI fluctuated today hovering around $45 per barrel. Here's a summary chart for the past week:Summary of Shale Play Rig CountsPermian Basin -6.6% to 311 rigs compared to last week’s 333 rigs Eagle Ford -2.0% to 146 rigs compared to 149 the prior week Williston Basin -3.7% to 104 from last week’s 108 rigs Marcellus +1.6% to 63 from the previous week's 62 rigs Mississippian -4.5% to 42 from last week's 44 rigs DJ-Niobrara -5.9% to 32...

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