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Lynn Helms - Director's Cut

Aug 15, 2019

Lynn HelmsOil Production
May 43,234,081 barrels = 1,394,648 barrels/day (Final)
June 42,739,555 barrels = 1,424,625 barrels/day (NEW all-time high)

Gas Production
May 87,402,741 MCF = 2,819,443 MCF/day
June 86,330,660 MCF = 2,876,689 MCF/day  (New all-time high)

The drilling rig count was very stable in the mid-60s for the first half of the year. Operators have shifted to incremental increases and decreases based on oil price, capital availability, gas capture, and completion crew availability. Operators have implemented plans to use 2-5 fewer rigs second half of 2019 based on oil price, capital availability, and infrastructure constraints.

The number of well completions has become variable again due to oil price, gas capture, workforce, and weather: April 101, May 113, June 95 (Preliminary).

Over 99% of drilling now targets the Bakken and Three Forks formations. Drilling permit activity is normal. Operators continue to maintain a permit inventory that will accommodate varying oil prices for the next 12 months.

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