Is The Bakken a Bust?

North Dakota has released December production data for the Bakken and for all North Dakota. They were a little shocking.

Bakken & North Dakota

Bakken production down 86,150 barrels per day 895,330 bpd. North Dakota production down 92,029 bpd to 942,455 bpd. It was noted that this the largest decline ever in North Dakota production. But it should not be overlooked that the October in crease in production was also the largest ever increase in North Dakota production.

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Jean Laherrere on Proven Reserves

Jean Laherrere has posted the following charts and comments on Bakken and World oil reserves.

EIA proved reserves on Bakken (ND +Montana) plus  cumulative production have changed at end :

-2012   3754 Mb
-2013   5701 Mb
-2014   7203 Mb
-2015   6671 Mb

As shown in this graph in red squares, together with HL ultimates, USGS estimates and cumulative production.

jean-1

ThisEIA CP+RR value (which is assumed to trend towards the oil ultimate) has increased sharply from 2012 to 2014 and has decreased in 2015 (this decrease may continue towards which value?).

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