industrial commission update · 2020-04-28 · 24 uncompleted wells proximity to high performance...
TRANSCRIPT
April 28, 2020
Justin J. KringstadGeological Engineer
Director
North Dakota Pipeline Authority
Industrial Commission Update
Market Uncertainty Has Never Been Higher
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North Dakota Prod.
Forecasts
Individual Well Prod.
Rates
Producer Reactions to Prices
Oil PricesGlobal Oil Supply & Inventory
Global Oil Demand
COVID-19
Traditional Levels of Uncertainty
Unprecedented new reality shaping decisions of
government, industry, and citizens at the global level
Major New Considerations
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North Dakota Prod.
Forecasts
Individual Well Prod.
Rates
Producer Reactions to Prices
Oil PricesGlobal Oil Supply & Inventory
Global Oil Demand
COVID-19
Timelines
“New Normal”
-OPEC+
-G20
-States
-Global
-Domestic
-Wellhead
-Completions
-Curtailments
-DUC Wells
-EUR’s
-GOR’s
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Statewide Well Performance
JJ Kringstad - North Dakota Pipeline Authority 4Average BKN/TF Well Performance Statewide
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Bakken Oil Production by IP Year
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Bakken Gas Production by IP Year
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Holding Oil Constant (No Shut-Ins, Weather, Etc.)Answering the question, “How many well completions to hold oil production flat?”
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Below Curve: Oil Production Dropping
Above Curve: Oil Production Increasing
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April 2020 Futures Curves
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Two Production Scenarios to Review
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Well Completions: NYMEX Futures
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Shut-In Assumptions: NYMEX Futures
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ND Oil Production: NYMEX Futures
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Forecast Shape Explanation
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ND Gas Production: NYMEX Futures
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Two Production Scenarios to Review
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Well Completions: EIA Price Deck
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Shut-In Assumptions: EIA Price Deck
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ND Oil Production: EIA Price Deck
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ND Oil Production: EIA Price Deck
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ND Gas Production: EIA Price Deck
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Base Case Oil Comparison
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Supporting Slides
Non-Confidential DUC Well Review
March 2020
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Bakken & Three Forks Formations
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Bakken Formation Three Forks Formation
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Uncompleted Wells Proximity to High Performance Wells
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Bakken Formation Three Forks FormationNon-Conf. NC/DUC and Drilling*
*NDIC Well Status 3-19-2020
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Uncompleted Wells Proximity to High Performance Wells
*NDIC Well Status 3-19-2020
Non-Conf. NC/DUC and Drilling*
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Uncompleted Wells Proximity to High Performance Wells
*NDIC Well Status 3-19-2020
Non-Conf. NC/DUC and Drilling*
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Uncompleted Wells Proximity to High Performance Wells
*NDIC Well Status 3-19-2020
Non-Conf. NC/DUC and Drilling*
Justin J. Kringstad, DirectorNorth Dakota Pipeline Authority
600 E. Boulevard Ave. Dept. 405Bismarck, ND 58505-0840
Phone: (701)220-6227Fax: (701)328-2820
E-mail: [email protected]
Websites: www.pipeline.nd.gov
www.northdakotapipelines.com
Contact Information
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