From Bruces Blog this news:
Director's Cut was released at 1:00 p.m. CDT, June 17, 2014.
The June Director's Cut is out.
Oil:
April, 2014: 1,001,149 bopd
March, 2014: 977,178 bopd (revised) 977,051 bopd (original)- that's almost a difference of 24,000 bbls / day (March to April)
- the increase represents almost a 2.45% increase
Disclaimer: this update is always done in haste; typographical errors are likely. This is for my use only. Others should go to the source.
Producing wells:
April, 2014: 10,658 (new all-time high)
March, 2014: 10,457 Permitting:
April, 2014: 233
March, 2014: 250
All time high was 370 in 10/2012Pricing:
Today, 2014: $91.71
May, 2014: $88.31
April, 2014: $85.68
March, 2014: $86.72
February, 2014: $86.89 Rig count:
Today: 189
May, 2014: 189
April, 2014: 188
March, 2014: 193Director's comments:
The number of well completions was unchanged at 200. The Tioga gas plant conversion transitioned from approximately 25% capacity at the beginning of the month to full capacity by the end of April. The percentage of flared natural gas dropped to 30% as the Tioga plant came back on line; the historical high was 36% in September, 2011.
In the previous report: about 635 wells waiting to be completed, a decrease of 15 from previous month. At the end of the most recent month for full reporting, April, 2014, there were about 600 wells awaiting completion.Wells waiting to be completed: in the big scheme of things, I don't think there is any shortage of frack spreads right now. The big reason for wells waiting to be completed, I think, is due to pad drilling. Generally, operators wait until all wells on a pad are drilled to total depth before they frack all the wells. There are exceptions. |
