Production Projections

For oil and gas industry leaders and related-parties, speculating on oil price bottoms, rebounds, short-term impacts and hedging has become a daily activity. Production projections show that as the oil prices decrease, the number of rigs will too.
By Emily Aasand | February 09, 2015

For oil and gas industry leaders and related-parties, speculating on oil price bottoms, rebounds, short-term impacts and hedging has become a daily activity. The North Dakota Department of Mineral Resources is helping with that process, and recently released some analysis to the N.D. House Appropriations Review, addressing the facts regarding North Dakota’s current situation.

Production projections show that as the oil prices decrease, the number of rigs will too. But, the review showed that by the third quarter of 2015, if oil prices reach $25 per barrel, the state’s bopd will still be around the 1 million bopd mark. If oil prices were to reach $25 per day by the third quarter of 2016, the state would still be able to produce 800,000 bopd, and 700,000 bopd by third quarter 2017.