- Oil and gas producers in the Bakken Shale saw a pickup in production in March and should see an even bigger increase as the weather turns warmer, according to a new report from RBC Capital.
- Bakken development activity rose to 200 well completions in March vs. 70 in February, and well backlog remains high at ~635 wells, RBC says, expecting operators to work through the backlog since North Dakota has experienced a relatively warm spring.
- "As completion activity catches up in the early summer and drilling activity remains strong, oil production should top 1M bbl/day around mid-year, the report says.
- The projection bodes well for producers with a heavy footprint in the Bakken, such as Continental Resources (CLR), EOG Resources (EOG) and Kodiak Oil & Gas (KOG).
Warmer weather to boost Bakken oil producers, RBC says
From other sites
at CNBC.com (May 14, 2015)
Video at CNBC.com (May 14, 2015)
at CNBC.com (Mar 12, 2015)
Video at CNBC.com (Mar 12, 2015)
at CNBC.com (Feb 27, 2015)
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