Troubling Signs At Bakken As Oil Production Growth Stalls

The euphoria of rising U. S. oil production continues in the Mainstream media while troubling signs are now taking place at the Bakken. Even though overall U. S. oil production has climbed due an increase in drilling rig activity, supply from the Bakken has stalled.
According to the most recently released Drill Productivity Report from the EIA – U. S. Energy Information Agency, oil production at the Bakken is forecasted to decline in May:
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The data from the Drilling Productivity Reports states the Bakken will add 43,000 barrels per day (bd) of new oil production in May, but its Legacy Decline will be 44,000 bd. Thus, overall oil production at the Bakken will decline a modest 1,000 bd in May. As we can see from the chart above, the Bakken’s overall trend is heading lower.

This post was published at SRSrocco Report on APRIL 20, 2017.