Bakken Shale in the United States (US) - Oil and Gas Shale Market Analysis and Outlook to 2022, 2020 Update

Bakken Shale in the United States (US) - Oil and Gas Shale Market Analysis and Outlook to 2022, 2020 Update

Summary

The Bakken Shale play is the second largest oil producing region in the US behind the Permian Basin. In 2019, it averaged over 1.4 million barrels of oil per day (mmbd) which made up almost 17% of the total United States oil production. This region witnessed an increase in production and activity since 2016, but will suffer a substantial drop in production in 2020. The price drop due to the COVID-19 pandemic has shaken up activity in the Bakken region. The main drivers in the decrease in production have been the shutting in of producing wells and the decrease in drilling activity in this region.

The largest oil producer in the Bakken, Continental Resources reportedly shut in majority of their wells given the circumstance that they have 0% of their production hedged going into 2020. However, the recent rebound in oil prices has given some operators the confidence to bring back some of the wells that were shut in previously, therefore leading to a marginal increase in production in June and July. Such occurrence is expected to offset the decline in legacy production and the fall in rig activity, keeping Bakken forecast to remain above 1 mmbd throughout 2020.

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

Scope

The scope of the report includes -

Comprehensive analysis of crude oil and natural gas production across major counties in North Dakota and Montana during 2017-2019, as well as production outlook from 2020-2022
Detailed information of impact on monthly production due to COVID-19 pandemic
In-depth information of well permits issued in the Bakken Shale across North Dakota, by county and by company from January 2019 to June 2020
In-depth analysis of net acreage, reserves, production in 2020, cost trends and planned investments of major companies in the Bakken Shale play
Detailed information of financial standings of major companies
In-depth analysis on various completion parameters
Comparison of planned capital expenditure by major companies
Detailed analysis of economic metrics of major players in the Bakken Shale play
In-depth analysis of financial and economic metrics of bankrupt companies in the Bakken Shale play
Up-to-date information on major mergers and acquisitions in the Scoop-Stack shale between 2018 and 2020
Overview of existing and active pipeline infrastructure in and around the Bakken Shale, 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 Bakken Shale
Plan your strategies based on expected developments of the Bakken Shale
Understand the competitive landscape of the companies in the Bakken Shale play
Keep yourself informed of the latest M&A activity in this prolific shale play
Identify opportunities and challenges in the Bakken Shale in the US

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, 2017-2019
4.1.1. Bakken Shale, Gross Crude and Condensate Production by County, 2017-2019
4.1.2. Bakken Shale, Gross Natural Gas Production by County, 2017-2019
4.2. Bakken Shale, COVID-19 Impact on Production
4.3. Bakken Shale, Production Outlook, 2020-2022
4.3.1. Bakken Shale, Production Outlook, 2020-2022
4.4. Bakken Shale, Drilling Activity
4.4.1. Bakken Shale, Well Permits by County, North Dakota
4.4.2. Bakken Shale, Well Permits by Company, North Dakota
4.4.3. Well profile

5. Bakken Shale, Competitive Benchmarking6. Bakken Shale, Analysis of Major Companies

7. Bakken Shale, Analysis of Bankrupt Companies

7.1. Whiting Petroleum Corp.
7.1.1. Key Financial Parameters
7.1.2. Key Operational Parameters

8. Bakken Shale, Associated Infrastructure

8.1. Pipelines

9. Mergers and Acquisition Activity in the Bakken Shale, 2018-2020

9.1. Overview of M&A Activity
9.2. Major Acquisitions
9.2.1. Whiting Petroleum divested its Bakken assets to improve liquidity
9.2.2. Hess Midstream completes acquisition of Hess Infrastructure for US$6.2 billion
9.2.3. Pembina Pipeline acquires the US portion of Cochin pipeline for US$1.5 billion

10. Appendix

List of Tables

Table 1:Bakken Shale, Net AcreagebyCompany, 2020
Table 2:Bakken Shale, Reserves and Production by Major Companies, 2020
Table 3:Bakken Shale, Financial Standings of Major Companies, 2019
Table 4:Bakken Shale, Operational Performance of Leading Operators, 2020
Table 5:Bakken Shale, Planned Capital Expenditure by Major Companies, 2020 (US$ million)
Table 6:Bakken Shale, Major Companies by Type Well Data, 2020
Table 7: Continental Resources, Inc., Bakken Shale, Key Operational Parameters, 2020
Table 8: Continental Resources, Inc., Bakken Shale, Key Economics, 2020
Table 9: Hess Corp., Bakken Shale, Key Operational Parameters, 2020
Table 10: Hess Corp., Bakken Shale, Key Economics, 2020
Table 11:Exxon Mobil Corp., Bakken Shale, Key Operational Parameters, 2020
Table 12:Exxon Mobil Corp., Bakken Shale, Key Economics, 2020
Table 13:Marathon Oil, Bakken Shale, Key Operational Parameters, 2020
Table 14:Marathon Oil, Bakken Shale, Key Economics, 2020
Table 15:Oasis Petroleum, Bakken Shale, Key Operational Parameters, 2020
Table 16:Oasis Petroleum, Bakken Shale, Key Economics, 2020
Table 17:WPX Energy, Bakken Shale, Key Operational Parameters, 2020
Table 18:WPX Energy, Bakken Shale, Key Economics, 2020
Table 19: Whiting Petroleum Corp., Bakken Shale, Key Financial Parameters, 2020
Table 20:Whiting Petroleum Corp., Bakken Shale, Key Operational Parameters, 2020
Table 21:Whiting Petroleum Corp., Bakken Shale, Key Economics, 2020
Table 22: Bakken Shale, Active, Planned and Announced Pipelines
Table 23:Bakken Shale, Major Deals by Oil and Gas Companies, 2018-2020

List of Figures

Figure 1: Bakken Shale, Production in 2020 (thousand barrels per day) vs. Rig count
Figure 2: Bakken Shale, Crude Oil and Condensate Production by County, mbd, 2017-2019
Figure 3: Bakken Shale, Natural Gas Production by County, mmcfd, 2017-2019
Figure 4: Bakken Shale, COVID-19 Impact on Production, 2020
Figure 5: Bakken Shale, Production Outlook, 2020-2022
Figure 6: Bakken Shale, Number of Well Permits by County, North Dakota, January 2019 to June 2020
Figure 7: Bakken Shale, Number of Well Permits by Operator, North Dakota, January 2019 to June 2020
Figure 8: Bakken Shale, Well profile of major counties
Figure 9: Bakken Shale, Quartile distribution of EUR
Figure 10: Bakken Shale, Average Peak Crude Production vs Lateral Length (ft) Quartile
Figure 11: Bakken Shale, Peak Crude Production vs Lateral Length, 2020
Figure 12: Bakken Shale, EUR Crude Oil vs Lateral Length, 2020
Figure 13: Bakken Shale, Major Companies by Well Costs, 2020
Figure 14: Bakken Shale, Active Oil and Gas pipelines by capacity