Related Articles
Forward article link
Share PDF with colleagues

Bakken powers ahead with production despite low oil price

Opec countries and other producers hoping that a lower oil price is going to lead to a quick fall in production from the Bakken oilfield in North Dakota, the US' most prolific shale producer, are likely to be left disappointed

The biggest question for the Bakken, and US production as whole, as the oil price has fallen has been at what point producers start packing up their rigs and going home. It is not a straightforward question. Breakeven costs vary widely between shale oilfields and between the core and fringe areas of the same play. Moreover, they are constantly evolving as new technologies and methods are brought into the oil patch. However, it appears that in the Bakken at least, operators have a large enough inventory of relatively low breakeven cost wells in the core of the play to keep production rising for at least another year.  After drilling around 10,000 wells in the play, there are few surprises l

Also in this section
Peak demand and oil's long-term trap
19 January 2018
Fixating on the timing of a peak in oil demand is misplaced. Rather, the peak's significance is in shifting the paradigm, from perceived scarcity to perceived abundance. And it poses a problem for low-cost producers
The end is nigh for oil
12 January 2018
Fossil fuel merchants including oil companies are living on borrowed time, argues a new book
US energy: what to watch in 2018
3 January 2018
Oil production, trade, renewables and technology top our list of major questions facing America's energy industry heading into the new year