This Bakken dataset is extracted from the TGS Well Performance Database containing 11,655 wells. There were three criteria for including wells in the study: horizontal and producing from the Bakken/ Three Forks shale play; completed and put on production since Jan. 1, 2008, (looking at the last 10 years of well completions); and actively producing wells.

Each well is forecasted to economic limit using the Production Forecast Module, and oil EUR is calculated for each well.

Comparing total oil EUR to remaining oil EUR shows that only 44% of the oil has been produced from these Bakken wells. About 2.6 Bbbl of oil remain.

Drilling permits, which are valid for one year in North Dakota and six months in Montana, are a leading indicator of expected drilling activity. There have been 1,048 permits to drill approved in the area in the last year (since July 2016) fi led by 38 different operating companies. The top 10 operating companies in the area account for 799 total permits, or 76% of the total.

Are permits to drill in the Bakken recovering? An historical look at permit counts show a large reduction in new permits to drill since the $100 oil days, with no recovery trend recognized yet.

Total oil EUR in barrels helps identify spatial patterns of high-performing wells. (Source: TGS)

Only 44% of the oil has been produced from existing Bakken wells. (Source: TGS)

In spite of prolonged low oil prices, many operators remain active in the Bakken. The top 10 operators account for 76% of active drilling permits. (Source: TGS)

Bakken drilling permits have yet to show a resurgence. (Source: TGS)