Bakken Oil Production Model:
The above chart shows past oil production in Williston basin as reported by EIA Drilling Rig Productivity Report along with computer modeled production based purely on drilling rig activity and drilling rig productivity over time. As you can see, production has now bottomed and should only go up or down as more drilling rigs are added/removed. The assumption for the modeled forecast is that the number of drilling rigs remains constant going foreward. Check Monday's DPR (www.eia.gov/petroleum/drilling/) for most recent Bakken production data from the EIA.
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