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Two all-time highs reached in November

BISMARCK – North Dakota’s oil and gas production was up in November. The number of producing wells and natural gas capture that month reached an all-time high.

The North Dakota Department of Mineral Resources reported on Friday the state produced 1,278,475 barrels of oil a day in November. In October, the state produced 1,254,475 barrels of oil a day.

Numbers released each month are normally about two months behind.

In November, the state produced 3,466,388 million cubic feet (MCF) a day of natural gas, an increase compared to October when the state produced 3,415,467 MCF a day of natural gas.

The natural gas capture rate was 95% in November, an increase of 1% compared to October when the rate was 94%. The state captured 3,278,218 MCF a day of natural gas in November, an all-time high capture number.

The state also has a new all-time high (preliminary) number of 18,733 producing wells in November. In October, there were 18,632 producing wells.

On Friday, 39 rigs were actively working in the oilfield. One rig was working on federal surface. This is an increase compared to October-December when 36 rigs were actively working each of those months.

On Friday, North Dakota light sweet crude oil was selling for $60.50 a barrel and West Texas Intermediate for $74.08 a barrel.

Also in November, 345 wells were waiting on completion and 51 wells were permitted. Fifty-seven wells were permitted in December, according to the report.

Fort Berthold Reservation produced 141,098 barrels of oil a day in November. Five rigs were actively working on the reservation. There’s 2,661 active wells there. Nineteen wells are waiting on completion and 150 drilling permits were approved.

“The drilling count remains low due to workforce, mergers and acquisitions but is expected to return to the mid-40s with a gradual increase expected over the next two years,” said Lynn Helms, director of the Mineral Resources Department.

He said there are 17 frac crews currently active in the oilfield.

“Saudi Arabia and Russia announced continued oil production cuts amounting to 4.7 million bpd (barrels per day) until the end of the year. Middle East conflict, Russia sanctions, China economic activity, potential recessions and shifting crude oil supply chains continue to create significant price volatility,” according to Helms.

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