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

  • ID: 4829115
  • Report
  • Region: United States
  • 53 pages
  • GlobalData
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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.
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1 Table of Contents
1.1. List of Tables
1.2. List of Figures

2. Overview
2.1. Bakken Shale, Recent Developments and Trends

3. Bakken Shale, Introduction
3.1. Bakken Shale, Overview

4. Bakken Shale, Production and Activity Overview
4.1. Bakken Shale, Production Analysis by County, 2013-2018
4.2. Bakken Shale, Production Outlook, 2019-2023
4.3. Bakken Shale, Drilling Activity, 2018

5. Bakken Shale, Competitive Landscape
5.1. Bakken Shale, Major Companies by Acreage, 2019
5.2. Bakken Shale, Major Companies by Net Production, 2018
5.3. Bakken Shale, Future Plans by Major Companies
5.4. Bakken Shale, Cost Trends, 2018

6. Bakken Shale, Analysis of Top Five Companies
6.1. Bakken Shale, Economic Metrics of Major Players
6.2. Continental Resources, Inc.
6.3. Hess Corp.
6.4. Whiting Petroleum Corp.
6.5. Exxon Mobil Corp.
6.6. ConocoPhillips

7. Bakken Shale, Associated Infrastructure
7.1. Pipelines

8. Mergers and Acquisition Activity in the Bakken Shale, 2013-2019
8.1. Overview of M&A Activity
8.2. Major Acquisitions

9. Recent Developments and Contracts in the Bakken Shale, 2013-2018
9.1. Recent Developments
9.2. Recent Contracts

10. Appendix
10.1. Abbreviations
10.2. Methodology
10.3. Contact Us
10.4. Disclaimer

List of Tables
Table 1: Key Metrics for 2018 and 2019 Completed Wells
Table 2: Bakken Shale, Crude Oil and Condensate Production by County, mbd, 2013-2018
Table 3: Bakken Shale, Natural Gas Production by County, mmcfd, 2013-2018
Table 4: Bakken Shale, Production Outlook, 2019-2023
Table 5: Bakken Shale, Number of Drilling Permits Issued and Completed, Jan 2018 to May 2019
Table 6: Bakken Shale, Number of Well Permits by County, North Dakota, Jan 2018 to May 2019
Table 7: Bakken Shale, Number of Well Permits by Operator, North Dakota, Jan 2018 to May 2019
Table 8: Bakken Shale, Net Acreage by Operator, 2019
Table 9: Bakken Shale, Major Companies by Net Production, 2018 (mboed)
Table 10: Bakken Shale, Major Companies by Initial Production Rates, 2019
Table 11: Bakken Shale, Planned Capital Expenditure by Major Companies, 2019 (US$ Million)
Table 12: Bakken Shale, Major Companies by Well Costs, 2018
Table 13: Bakken Shale, Major Companies by Type Well Data, 2018
Table 14: Continental Resources, Inc., Bakken Shale, Key Operational Parameters, 2018
Table 15: Continental Resources, Inc., Bakken Shale, Key Economics, 2018
Table 16: Hess Corp., Bakken Shale, Key Operational Parameters, 2018
Table 17: Hess Corp., Bakken Shale, Key Economics, 2018
Table 18: Whiting Petroleum Corp., Bakken Shale, Key Operational Parameters, 2018
Table 19: Whiting Petroleum Corp., Bakken Shale, Key Economics, 2018
Table 20: Exxon Mobil Corp., Bakken Shale, Key Operational Parameters, 2018
Table 21: Exxon Mobil Corp., Bakken Shale, Key Economics, 2018
Table 22: ConocoPhillips, Bakken Shale, Key Operational Parameters, 2018
Table 23: ConocoPhillips, Bakken Shale, Key Economics, 2018
Table 24: Bakken Shale, Active, Planned and Announced Pipelines
Table 25: Bakken Shale, Major Deals by Oil and Gas Companies, 2013-2019
Table 26: Recent Contracts in Bakken Shale

List of Figures
Figure 1: Relation between Lateral Length and Breakeven Pricing for Major Operators in the Bakken Shale, 2018
Figure 2: Natural Gas Flaring Statistics in the Bakken Shale, Jan to May 2019
Figure 3: Bakken Shale, Crude Oil and Condensate Production by County, mbd, 2013-2018
Figure 4: Bakken Shale, Natural Gas Production by County, mmcfd, 2013-2018
Figure 5: Bakken Shale, Production Outlook, 2019-2023
Figure 6: Bakken Shale, Permits Issued and Completed, Jan 2018 to May 2019
Figure 7: Bakken Shale, Number of Well Permits by County, North Dakota, Jan 2018 to May 2019
Figure 8: Bakken Shale, Number of Well Permits by Operator, North Dakota, Jan 2018 to May 2019
Figure 9: Bakken Shale, Major Companies by Acreage, 2019
Figure 10: Bakken Shale, Major Companies by Net Production, 2018 (mboed)
Figure 11: Bakken Shale, Well Profile
Note: Product cover images may vary from those shown
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