Tuesday, January 19, 2021

Tag: FIRST SHALE OIL DOMINO TO FALL: More to Follow

FIRST SHALE OIL DOMINO TO FALL: More to Follow

by Steve St. Angelo, SRSRocco Report:

In a stunning news release, Continental Resources, the largest shale producer in the Bakken, is shutting in most of its production in the region.  That is one hell of a lot of output to shut-in as Continental Resources was producing over 200,000 barrels per day in the Bakken at the end of 2019.

From the data on Shaleprofile.com, Continental Resources had over 2,200 wells in the North Dakota and Montana Bakken producing oil and gas during February this year.  How many wells will Continental’s Harold Hamm shut in the Bakken??  And how many will be brought back online, at to what cost, when the market recovers??