The Department of Mineral Resources (DMR) Director Nathan Anderson presented the January 2025 Director’s Cut, detailing November 2024 oil and gas production statistics for North Dakota. With steady production and continued efficiency gains, the report highlights a stable outlook for the state’s energy sector despite industry challenges.
Key Statistics
- Oil Production: 36,632,000 barrels in November 2024, averaging 1.221 million barrels/day (up 43,000 barrels/day from October).
- Gas Production: Just under 104 billion cubic feet (BCF) for November, averaging 3.5 BCF/day, with a 95% gas capture rate.
- Pricing: WTI oil price at $70/barrel, North Dakota market price at $63.60.
- Wells Permitted: December permits totaled 87, up from 78 in November, nearing the target of 100.
- Rig Counts: December saw 36 rigs, with 31 active as of the report date.
- Producing Wells: 19,334 in North Dakota, continuing a rising trend.
- Wells Waiting on Completion: Decreased to 301 in November, down from 331 in October.
- Completed Wells: December completions were 89, slightly down due to holiday impacts.
- Fort Berthold Reservation: Oil production at 17,255 barrels/day, with two active rigs and roughly 3,000 producing wells.
- IJA Grant Progress: 73 wells plugged and abandoned, 111 sites reclaimed, nearing project completion.
- Longer Laterals: Trend toward 3- and 4-mile laterals increasing operational efficiency.
North Dakota’s energy industry remains stable, with production and operational efficiency holding steady despite external pressures. As the state transitions into 2025, trends like longer laterals and robust gas capture rates signal a continued focus on innovation and sustainability in oil and gas production.
https://www.youtube.com/watch?v=upmB\_m5VLIc
