From Bloomberg. And we don't rate a Baaken mention lol. Huge rig drop!
North Dakota oil output posts biggest-ever monthly drop
12:19 pm ET • CLR • SA Editor Carl Surran
- North Dakota’s crude oil production fell by the largest amount ever for a single month, sinking 6.3% to 1.04M bbl/day in April from a revised 1.11M bbl/day in March.
- The North Dakota Department of Mineral Resources cites low crude oil prices but also windy weather throughout much of the month, which delays the fracking of wells, adding that it expects the slide to accelerate through May and into the summer.
- There are 28 drilling rigs currently active in the state, up from 27 in May which was the fewest since July 2005; at its peak, North Dakota had 218 rigs drilling in May 2012.
- Companies with a Bakken presence include: CLR, ERF, EOG, HK, HES, MRO,OAS, QEP, SM, STO, TPLM, WLL.
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