Twilight of the Bakken field?

BakkenProd-Dec15

The above charts come from the monthly Energy Information Agency’s report, “Drilling Productivity Report.”  The crucial thing to realize about ALL of the fracked oil and gas fields in the USA (and anywhere there’s shale) is that the individual wells, as soon as drilled and completed (including fracturing using copious amounts of silica sand from Wisconsin, Minnesota, Iowa, Missouri, and other regions) these wells begin to deplete (production drops off) immediately.  After Day One.

The Oil Production chart above seems to be indicating a Peak Oil production moment in about mid-2015.  Certainly the production since that time has dropped off.

More troubling for anyone who has relocated out there to North Dakota to work in these oil drilling sites, is that the daily production per well has dropped by 24% — from 144 barrels per day (averaged over all 10,000 wells now active in the 5-county Bakken field in NoDak) down to just 109 today. (SourceL: North Dakota Industrial Commission, NDIC).

What does the future hold?  A return to the ongoing peak of oil production in these United States, but more importantly, return to peak of global oil production.

 

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