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Bakken Shale in the United States of America (USA), 2021 - Oil and Gas Shale Market Analysis and Outlook to 2025

  • ID: 5354155
  • Report
  • July 2021
  • Region: United States
  • 43 pages
  • GlobalData
1h Free Analyst Time

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The Bakken shale play is the second largest oil producing region in the United States behind the Permian Basin. In 2019, it averaged over 1.4 million barrels of oil per day (mmbd), which was followed by Eagle Ford play at 1.37 mmbd. The play is located in North and South Dakotas and Montana states in the United States and southern part of Saskatchewan province in Canada. However, more than 90% of the hydrocarbon output comes from the portion of play located in the United States and accounted for almost 11% of oil and 3% of natural gas production in the United States Lower 48 for 2020.

The play peaked in production in November 2019, with 1,525 thousand barrels of oil per day (mbd) and 3.1 billion cubic feet per day (bcfd) of natural gas. Crude oil production in Bakken peaked in November 2019, and since then was declining at 6% rate on an annual basis. However, muted energy demand and crashed oil price brought by Covid-19 pandemic, caused crude oil production in the play to drop by around 40% compared to the beginning of the year. The lowest levels of production since the end of 2019 was in May 2020 with 890 mbd and 1.9 bcfd, which is a 41% drop in oil and 39% drop in natural gas production. Production in the play is expected to slowly grow as oil prices recover, however, it is not expected to reach pre-pandemic levels in the next five years.

Scope

The report analyses the crude oil and natural gas appraisal and production activities in the Bakken shale in US. The scope of the report includes:
  • Comprehensive analysis of crude oil and natural gas historical production and outlook during 2018-25
  • Detailed information of impact on well development, permits and deals against the backdrop of the COVID-19 pandemic
  • In-depth information of well productivity and well completion parameters across Bakken shale in the US
  • Analysis of top companies’ net acreage, planned capital expenditure in 2021, as well as crude oil and natural gas reserves and production stats as of 2020
  • Up-to-date information on major mergers and acquisitions across the Bakken shale play between 2019 and 2021
Reasons to Buy
  • Develop business strategies with the help of specific insights into the Bakken shale in the US
  • Plan your strategies based on economic viability and expected developments in the Bakken shale
  • Keep yourself informed of the latest M&A activity in across Bakken shale
  • Identify opportunities and challenges across Bakken shale play
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1. Overview
1.1 Bakken Shale, Recent Developments and Trends

2. Bakken Shale, Introduction
2.1 Bakken Shale, Formation Overview

3. Bakken, Production and Activity Overview
3.1 Bakken Shale, Production Analysis, 2018-2020
3.2 Bakken Shale, COVID-19 Impact on Production
3.3 Bakken Shale, Production Outlook, 2021-2025
3.4 Bakken Shale, Drilling Activity
3.5 Well profile

4. Bakken Shale, Competitive Benchmarking
4.1 Bakken Shale, Major Companies with Prominent Presence, 2021
4.2 Bakken Shale, Major Companies’ Financial Standings
4.3 Bakken Shale, Operational Performance of Leading Operators
4.4 Bakken Shale, Completion Parameters, 2019-21
4.5 Bakken Shale, Future Plans of Major Companies
4.6 Bakken Shale, Cost Trends, March 2021

5. Bakken Shale, Analysis of Bankrupt Companies
5.1 Bruin E&P
5.2 Whiting Petroleum Corp.

6. Bakken Shale, Associated Infrastructure
6.1 Pipelines

7. Mergers and Acquisition Activity in the Bakken Shale, 2019-2021
7.1 Overview of M&A Activity
7.2 Major Acquisitions

8. Bakken Shale, Analysis of Major Companies
8.1 Hess Corporation
8.2 Marathon Oil Corporation
8.3 Whiting Petroleum Corporation
8.4 ExxonMobil Corporation
8.5 ConocoPhillips
8.6 Oasis Petroleum Inc.
8.7 Petro-Hunt, LLC
8.8 Enerplus Resources Corporation
8.9 Northern Oil & Gas Inc.
8.10 Kraken Operating, LLC
8.11 Ovintiv Inc
8.12 EOG Resources
8.13 Nine Point Energy LLC

9. Appendix
9.1 Abbreviations
9.2 Methodology
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List of Tables
Table 1: Bakken Shale, Crude Oil and Natural Gas Production by State, 2018-2020
Table 2: Bakken Shale, Net Acreage by Company, 2020-21
Table 3: Bakken Shale, Reserves and Production by Major Companies, 2020
Table 4: Bakken Shale, Financial Standings of Major Companies, Q1 2021
Table 5: Bakken Shale, Operational Performance of Leading Operators, January 2020 - March 2021
Table 6: Bakken Shale, Planned Capital Expenditure by Major Companies, 2020-21 (US$ million)
Table 7: Bruin E&P, Bakken Shale, Key Operational Parameters, 2020
Table 8: Whiting Petroleum Corp, Bakken Shale, Key Operational Parameters, 2020
Table 9: Bakken Shale, Major Active and Announced Pipelines
Table 10: Bakken Shale, Major Deals by Oil and Gas Companies, 2018-21

List of Figures
Table 1: Total Production across Bakken Shale, 2018-2021
Table 2: Rig count in Bakken Shale, and West Texas Intermediate (WTI) future prices, 2019-2021
Table 3: Bakken Shale, Crude Oil and Condensate Production by County (mbd), 2018-2020
Table 4: Bakken Shale, Natural Gas Production by County, mmcfd, 2018-2020
Table 5: Bakken Shale, COVID-19 Impact on Production, 2021
Table 6: Bakken Shale, Production Outlook, 2021-2025
Table 7: Bakken Shale, Number of Well Permits by County, January 2019 to March 2021
Table 8: Bakken Shale, Number of Well Permits by Key Operators, January 2019 to March 2021
Table 9: Bakken Shale, Well Profile for Crude Oil Production
Table 10: Bakken Shale, Well Profile for Natural Gas Production
Table 11: Bakken Shale, Quartile Distribution of EUR (mmboe)
Table 12: Bakken Shale, Proppant Mass (million lbs) vs Lateral Length (ft)
Table 13: Bakken Shale, Average Peak Crude Oil Production vs Lateral Length (ft) Quartile
Table 14: Bakken Shale, Peak Crude Oil Production vs Lateral Length, 2019-2021
Table 15: Bakken Shale, Total EUR vs Lateral Length, 2019-2021
Table 16: Bakken Shale, Major Companies by Well Costs (US$ mil), March 2021
Table 17: Bakken Shale, Major Active Crude Oil, NGL and Natural Gas Pipelines by Capacity, April 2021
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