Bakken Shale in the US, 2019 - Oil and Gas Shale Market Analysis and Outlook to 2023

Bakken Shale in the US, 2019 - Oil and Gas Shale Market Analysis and Outlook to 2023

Bakken Shale in the US, 2019 - Oil and Gas Shale Market Analysis and Outlook to 2023

Summary

The latest report Bakken Shale in the US, 2019 - Oil and Gas Shale Market Analysis and Outlook to 2023, states that in 2018, the major counties for crude oil and natural gas production in Bakken shale play in the US were McKenzie, Williams, Mountrail, and Dunn, all located in North Dakota. Continental Resources, Hess, Whiting Petroleum, ExxonMobil, and ConocoPhillips were the leading producers in the Bakken shale play in 2018. Also it identifies that there is considerable potential to raise the crude oil production in the Bakken shale play from the current level of approximately 1.44 million barrels of oil per day (mmbd) to at least 2 mmbd. However, flaring regulations and infrastructure bottlenecks in North Dakota are limiting production growth.

Bakken oil production is facing constraints associated with prescribed limits set by North Dakota on the flaring of natural gas. North Dakota is currently flaring approximately 19% of the natural gas it produces - well above the 12% allowed by state regulations. Bakken oil wells show competitive performances when compared to recently completed wells in the Permian Basin and Eagle Ford. However, to some extent, the actual potential of the Bakken play is not getting realized due to restrictions on the flaring of natural gas in North Dakota, as most of this flared gas is associated with oil-producing wells in the Bakken formation. As long as gas infrastructure in the region does not expand, the pace of drilling new wells will be constrained and oil production from the Bakken will remain flat or grow at a low rate.

The Permian Basin, Bakken, and Eagle Ford are currently producing over 83% of the US oil production. For the first half of 2019, these three formations averaged 4.05 mmbd, 1.44 mmbd, and 1.43 mmbd respectively. The Permian Basin production has increased by approximately 9%, the Bakken around 1% and the Eagle Ford has stayed constant throughout 2019. Bakken wells exhibit the lowest breakeven price among the three shale plays at US$30.50 per barrel (bbl), mainly due to the exceptionally high 30-day initial production (IP) rates of over 1,250 boed observed in this play. Also, the Bakken total production stream is over 75% oil where the other plays are around 58%.

Moreover, many Bakken operators are picking up the trend of drilling longer laterals and experimenting with completion designs. Companies are drilling laterals up to 12,000 feet (ft). The general objective remains to increase the productivity of the new producing wells in a higher proportion with respect to the cost increase associated with these more complex wells.

Scope

The report analyzes the crude oil and natural gas appraisal and production activities in the Bakken shale play in the US. The scope of the report includes -

  • Comprehensive analysis of crude oil and natural gas production across major counties in North Dakota and Montaha during 2013-2018, as well as production outlook from 2019 to 2023
  • In-depth information of well permits issued in North Dakota region of the Bakken shale, by county and by company from January 2018 to May 2019
  • Detailed understanding of IP rates and type well profiles in the Bakken shale.
  • Exhaustive analysis of competitive landscape in the Bakken shale in terms of net acreage, gross production, cost trends and planned investments.
  • Comparison of type well economic metrics of major players were also analyzed
  • Up-to-date information on major mergers and acquisitions in the Bakken shale between 2013 and 2019
  • Overview of existing and active pipeline infrastructure in the Bakkken shale and along with a review of the upcoming projects in the region.
Reasons to buy
  • Develop business strategies with the help of specific insights into the Bakkken shale
  • Plan your strategies based on expected developments of the Bakkken shale
  • Understand the competitive landscape of the companies in the Bakkken play
  • Keep yourself informed of the latest developments and contracts in this oil-rich shale play
  • Identify opportunities and challenges in the Bakkken shale in the US.


  • Overview
    • Bakken Shale, Recent Developments and Trends
      • Table Key Metrics for 2018 and 2019 Completed Wells
      • Table Figure 1: Relation between Lateral Length and Breakeven Pricing for Major Operators in the Bakken Shale, 2018
      • Table Figure 2: Natural Gas Flaring Statistics in the Bakken Shale, Jan to May 2019
  • Bakken Shale, Introduction
    • Bakken Shale, Overview
  • Bakken Shale, Production and Activity Overview
    • Bakken Shale, Production Analysis by County, 2013–2018
      • Bakken Shale, Gross Crude and Condensate Production by County, 2013–2018
        • Table Figure 3: Bakken Shale, Crude Oil and Condensate Production by County, mbd, 2013–2018
        • Table Bakken Shale, Crude Oil and Condensate Production by County, mbd, 2013–2018
      • Bakken Shale, Gross Natural Gas Production by County, 2013–2018
        • Table Figure 4: Bakken Shale, Natural Gas Production by County, mmcfd, 2013–2018
        • Table Bakken Shale, Natural Gas Production by County, mmcfd, 2013–2018
    • Bakken Shale, Production Outlook, 2019–2023
      • Bakken Shale, Production Outlook, 2019–2023
        • Table Figure 5: Bakken Shale, Production Outlook, 2019–2023
        • Table Bakken Shale, Production Outlook, 2019–2023
    • Bakken Shale, Drilling Activity, 2018
      • Bakken Shale, Permits Issued and Completed, North Dakota
        • Table Figure 6: Bakken Shale, Permits Issued and Completed, Jan 2018 to May 2019
        • Table Bakken Shale, Number of Drilling Permits Issued and Completed, Jan 2018 to May 2019
      • Bakken Shale, Well Permits by County, North Dakota
        • Table Figure 7: Bakken Shale, Number of Well Permits by County, North Dakota, Jan 2018 to May 2019
        • Table Bakken Shale, Number of Well Permits by County, North Dakota, Jan 2018 to May 2019
      • Bakken Shale, Well Permits by Company, North Dakota
        • Table Figure 8: Bakken Shale, Number of Well Permits by Operator, North Dakota, Jan 2018 to May 2019
        • Table Bakken Shale, Number of Well Permits by Operator, North Dakota, Jan 2018 to May 2019
  • Bakken Shale, Competitive Landscape
    • Bakken Shale, Major Companies by Acreage, 2019
      • Table Figure 9: Bakken Shale, Major Companies by Acreage, 2019
      • Table Bakken Shale, Net Acreage by Operator, 2019
    • Bakken Shale, Major Companies by Net Production, 2018
      • Table Figure 10: Bakken Shale, Major Companies by Net Production, 2018 (mboed)
      • Table Bakken Shale, Major Companies by Net Production, 2018 (mboed)
      • Bakken Shale, Initial Production Rates
        • Table Bakken Shale, Major Companies by Initial Production Rates, 2019
      • Well Profile
        • Table Figure 11: Bakken Shale, Well Profile
    • Bakken Shale, Future Plans by Major Companies
      • Bakken Shale, Planned Investments, 2019
        • Table Bakken Shale, Planned Capital Expenditure by Major Companies, 2019 (US$ Million)
    • Bakken Shale, Cost Trends, 2018
      • Bakken Shale, Well Costs
        • Table Bakken Shale, Major Companies by Well Costs, 2018
  • Bakken Shale, Analysis of Top Five Companies
    • Bakken Shale, Economic Metrics of Major Players
      • Table Bakken Shale, Major Companies by Type Well Data, 2018
    • Continental Resources, Inc.
      • Key Operational Parameters
        • Table Continental Resources, Inc., Bakken Shale, Key Operational Parameters, 2018
        • Table Continental Resources, Inc., Bakken Shale, Key Economics, 2018
    • Hess Corp.
      • Key Operational Parameters
        • Table Hess Corp., Bakken Shale, Key Operational Parameters, 2018
        • Table Hess Corp., Bakken Shale, Key Economics, 2018
    • Whiting Petroleum Corp.
      • Key Operational Parameters
        • Table Whiting Petroleum Corp., Bakken Shale, Key Operational Parameters, 2018
        • Table Whiting Petroleum Corp., Bakken Shale, Key Economics, 2018
    • Exxon Mobil Corp.
      • Key Operational Parameters
        • Table Exxon Mobil Corp., Bakken Shale, Key Operational Parameters, 2018
        • Table Exxon Mobil Corp., Bakken Shale, Key Economics, 2018
    • ConocoPhillips
      • Key Operational Parameters
        • Table ConocoPhillips, Bakken Shale, Key Operational Parameters, 2018
        • Table ConocoPhillips, Bakken Shale, Key Economics, 2018
  • Bakken Shale, Associated Infrastructure
    • Pipelines
      • Table Bakken Shale, Active, Planned and Announced Pipelines
  • Mergers and Acquisition Activity in the Bakken Shale, 2013–2019
    • Overview of M&A Activity
    • Major Acquisitions
      • Enbridge spends US$7.11 billion on corporate restructuring
      • Whiting Petroleum acquires Kodiak Oil & Gas for US$4.32 billion
      • Kinder Morgan completes the acquisition of Hiland Partners for US$3 billion
      • Global Infrastructure Partners acquires 50% interest in Bakken midstream assets from Hess for US$2.68 billion
      • Phillips 66 Partners acquires working interests in Dakota Access, Energy Transfer Crude Oil and Merey Sweeny from Phillips 66 for US$2.4 billion
        • Table Bakken Shale, Major Deals by Oil and Gas Companies, 2013–2019
  • Recent Developments and Contracts in the Bakken Shale, 2013–2018
    • Recent Developments
      • June 12, 2019: State of North Dakota Invests in Bakken Midstream
      • May 14, 2019: ONEOK accelerating its Bakken growth projects
      • April 29, 2019: Oneok to invest $100m for Bakken NGL Pipeline extension
      • April 23, 2019: Northern Oil and Gas to buy Williston Basin assets from VEN Bakken
      • February 21, 2019: Energy Transfer expands Bakken oil pipeline capacity to 570,000 bpd
      • January 25, 2019: MDU Resources subsidiary plans to construct Bakken natural gas transportation project
    • Recent Contracts
      • Table Recent Contracts in Bakken Shale
  • Appendix
    • Abbreviations
    • Methodology
      • Coverage
      • Secondary Research
    • Contact Us
    • Disclaimer

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