Bakken Production Not Declining

Despite predictions and low oil prices, production from the Bakken play in North Dakota has not fallen. Bakken production to date has matched 2014 production and continues to rise. John Auers, executive vice president of Turner Mason & Co. of Dallas, TX comments on the production, “I’m not surprised, but I am impressed,” he says “And not just with the Bakken, but also with the other tight oil basins.” Wood Mackenzie’s Bakken expert Jonathan Garret predicts that the Bakken will increase to 1.2 million barrels per day for 2015 over the average of 1.1 million barrels per day in 2014. The sharp decline (59%) in rig count in the Bakken has not translated into decreased production.