Home / News / Bakken News / Oil production up in November, but rig count decreasing
Getty Images via NewsCred

Oil production up in November, but rig count decreasing

BISMARCK, N.D. — Energy regulators say North Dakota set a new record high for the number of barrels of oil produced per day in November, but the number of rigs has since decreased.

The state produced over 1.18 million barrels a day in November, about 2,571 more barrels than in September, the last time a record high was reached. November figures are the latest available because oil production numbers typically lag at least two months.

However, the drilling rig count has dropped from 188 in November to 156 as of Wednesday, the lowest number since October 2010. The state reached an all-time high count in May 2012 with 218 rigs.

Department of Natural Resource Director Lynn Helms says the price of oil “is by far the biggest driver” behind the slowdown.

This article was from The Associated Press and was legally licensed through the NewsCred publisher network.

80 comments

  1. It’s refreshing to see some context, that’s related to all this hubbub.

  2. Don’t worry guys it won’t slow down…..— That was sarcasm for those who are ignorant or don’t understand econmics.

    • The economics are at $47 a barrel(WTI) its not worth it and at this point its a waiting game to see if prices were continue downwards or start to build some sort of base. Schlumberger just cut 9,000 jobs if you need hand writing on the wall.

    • It’s funny I still remember people being outraged when prices got up to $55 a barrel.

  3. Well time to go back home and wait it out.

  4. The smaller drilling companies are stacking some of their rigs… (rhey do not have deep enough pockets to wait out the oil war with OPEC.

  5. I think every company that drills in ND is stacking out rigs.

  6. keep pumping and drilling your doing a great job for the country

  7. Jim Gregg they can’t of these companies keep laying them off!

  8. It has nothing to do with your smaller companies HP for example is one of the people pulled about 30 greg out of North Dakota

  9. Maybe if the USA cut production back prices would rise and this BS would end!

  10. So why does the US have to cut production?

    • The U.S. Does not need to cut production, a lot of wells are not profitable at current oil prices though. So why drill?

    • Because its cheaper to drill now. Oil companies have to buy fuel to do anything just like the rest of us.

    • If it costs $50 a barrel to get it out of the ground and oil is trading for $45 a barrel how us it cheaper to drill. Its a money losing proposition.

    • This is what a global monopoly looks like. If we were smart, we would beat the Saudis at their own game and build that pipeline. Oil having to be shipped by sea is a lot costlier than oil than flows for free across the land in a pipe. Pretty sure we would save more fuel and Canada and Mexico and all of Latin America would benefit from a pipeline in North America. The Chinese are starting to build a blue water navy, isn’t it time we built a pipeline?

  11. All the rigs seem to be between Pecos and Ft. Stockton in the Permian basin.

  12. Its the Damn petro dollar….this whole game is rigged,planned & executed per rehearsal …..just another lie/scam being played out before our very eyes!!

  13. We’re still working, and plan to till summer, so intelligent people make your own choice on what’s really going on.

  14. Get them back drilling & keep these prices down.

  15. What is this? Like the 9th post related to rig count….cue the ‘doom and gloom’ faction….good grief. Heard the same stuff in 2009.

  16. The Bakken shall is in North Dakota just FYI.

  17. Rig count drop 74 past week

  18. From what I read last week the Saudi’s are prepared to go as low as $20.00 a bbl to regain their market share in US imports. I heard the break even price for Bakken crude is around 55.00 a bbl. I don’t see how we will win this price war….

  19. They produce a lot more production

  20. I love how everyone knows what the “break even” point is. With lower rates that point is very mobile

    • As competition for services increases, cost will drop. Therefore reducing drilling costs, and reducing production costs.
      Where oil had to be at $50bbl to be worthwhile in the climax, it can be profitable at a much much lower price when your overhead is much much lower.

  21. No mention of the 770 wells that have been drilled that haven’t been put into production.

  22. Oxy is capping all producing wells and cancelled all completions on wells in the Bakken. At least through the first or second quarter. Guessing they are being bought out up here.

  23. This is what happens when our government spends money we don’t have thus creating our dollar and oil useless on the global scale.

  24. The Saudis control everything.

  25. It’s all about OPEC. We can’t play hard ball with them.

  26. I know ppl are concerned, as I am. Continuing to post these stories and posting thoughts of fear and anger doesnt help anyone.

  27. 800 wells needing completion in the Bakken. It’s good to be in the completion side of the business. Roustabout maintenance and remediation companies are still going strong.

  28. That Saudi oil has to get here…..that barrel of twenty dollar oil will cost them another twenty to ship…so when it gets here it is no cheaper

  29. I heard Russia, Iran and Nicaragua have it worst.

  30. The production is still up. Just not the drilling.

  31. It’s all about o
    OpEC Saudi and USA putting sanctions on Russia . Leave Russia a lone and the problem will end

  32. I thought we had more oil than the Saudi’s did. Was that a lie?

  33. Swn in ark just spent a ton of money in West Virginia no plans on slowing down but it’s gas not oil

  34. Yeah Corey Stone, my rig is stacked out.

  35. Schlumberger announced on Thursday that they will be laying off 9000 employees…this is big news…

  36. Just what the OPEC Nations ordered!!!

  37. … rigs stack out every winter, production isn’t drilling… drilling LEADS to production. Don’t let these things scare you, it sucks they lay off when it slows, but it’s not the first or the last time this will happen.

    • Been thru 4 booms since’89

    • Yes Andre you are right, but the wells already in production depending on the current or future crude prices are what fund the drilling and the completion of wells. Without those funds, hence low crude prices, there are no funds to finance drilling and completion projects. I would be worried, these rigs stacking out arent just because of winter………..

  38. This isn’t boom and bust, folks… this time is real! There is a glut on the world market, and people just aren’t demanding the product because of the global economy! This pony is way different than the horse everyone rode in the 80’s, 90’s, or 2000’s… clean energy, and a lack of manufacturing is causing a severe imbalance in supply and demand… so blame OPEC all you want, or get busy, and find a new way to make a living!!! You just can’t sell what people aren’t buying!!!!

  39. Let the US compete in the global market. Lift 70’s ban on exports

  40. The US is exporting 50% more oil than we were under the last administration. Saudi are pumping oil trying to flood the market in hopes we will stop. Hasn’t happened..

  41. I’m still working 70+ a week, so not sure what you all are talking about

  42. They laying off but yet buying other companies out makes sense to me

  43. As competition for services increases, cost will drop. Therefore reducing drilling costs, and reducing production costs.
    Where oil had to be at $50bbl to be worthwhile in the climax, it can be profitable at a much much lower price when your overhead is much much lower.