Bakken Shale in the United States of America (USA), 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025

Bakken shale has experienced a constant decline since production peaked in November 2019. GlobalData notes that a steady rise in capital allocation from leading oil and gas operators and infrastructural improvements would reboot production in this region.

According to our latest report, Bakken Shale accounted for a mere 11% of oil and 2.8% of natural gas production in the US Lower 48 for 2020, which is a drop from 12% for crude oil and 3% for natural gas in 2019.

Svetlana Doh, Oil & Gas Analyst at GlobalData, comments:

“Production in the Bakken shale was adversely affected by the COVID-19 outbreak and restrictions on economic activity. Although easing of restrictions and travel bans during H1 2021 have improved demand prospects, production is not expected to reach pre-pandemic levels in the next five years. This is because operators are still being extremely careful in ramping up drilling activities, and most likely we will not see any significant acceleration in hiring new rigs in the near-term.”

 

Scope

The report analyses the crude oil and natural gas appraisal and production activities in the Bakken shale in US. The scope of the report includes:

Comprehensive analysis of crude oil and natural gas historical production and outlook during 2018-25

Detailed information of impact on well development, permits and deals against the backdrop of the COVID-19 pandemic

In-depth information of well productivity and well completion parameters across Bakken shale in the US

Analysis of top companies’ net acreage, planned capital expenditure in 2021, as well as crude oil and natural gas reserves and production stats as of 2020

Up-to-date information on major mergers and acquisitions across the Bakken shale play between 2019 and 2021

Reasons to buy

Develop business strategies with the help of specific insights into the Bakken shale in the US

Plan your strategies based on economic viability and expected developments in the Bakken shale

Keep yourself informed of the latest M&A activity in across Bakken shale

Identify opportunities and challenges across Bakken shale play

Table of Contents

1. Overview 6

1.1 Bakken Shale, Recent Developments and Trends 6

2. Bakken Shale, Introduction 8

2.1 Bakken Shale, Formation Overview 8

3. Bakken, Production and Activity Overview 9

3.1 Bakken Shale, Production Analysis, 2018-2020 9

3.2 Bakken Shale, COVID-19 Impact on Production 12

3.3 Bakken Shale, Production Outlook, 2021-2025 13

3.4 Bakken Shale, Drilling Activity 14

3.5 Well profile 16

4. Bakken Shale, Competitive Benchmarking 19

4.1 Bakken Shale, Major Companies with Prominent Presence, 2021 19

4.2 Bakken Shale, Major Companies’ Financial Standings 21

4.3 Bakken Shale, Operational Performance of Leading Operators 22

4.4 Bakken Shale, Completion Parameters, 2019-21 23

4.5 Bakken Shale, Future Plans of Major Companies 27

4.6 Bakken Shale, Cost Trends, March 2021 28

5. Bakken Shale, Analysis of Bankrupt Companies 29

5.1 Bruin E&P 29

5.2 Whiting Petroleum Corp. 30

6. Bakken Shale, Associated Infrastructure 31

6.1 Pipelines 31

7. Mergers and Acquisition Activity in the Bakken Shale, 2019-2021 35

7.1 Overview of M&A Activity 35

7.2 Major Acquisitions 35

8. Bakken Shale, Analysis of Major Companies 37

8.1 Hess Corporation 37

8.2 Marathon Oil Corporation 37

8.3 Whiting Petroleum Corporation 37

8.4 ExxonMobil Corporation 38

8.5 ConocoPhillips 38

8.6 Oasis Petroleum Inc. 38

8.7 Petro-Hunt, LLC 39

8.8 Enerplus Resources Corporation 39

8.9 Northern Oil & Gas Inc. 39

8.10 Kraken Operating, LLC 39

8.11 Ovintiv Inc 40

8.12 EOG Resources 40

8.13 Nine Point Energy LLC 40

9. Appendix 41

9.1 Abbreviations 41

9.2 Methodology 41

| Contact Us 42

List of Tables

Table 1: Bakken Shale, Crude Oil and Natural Gas Production by State, 2018-2020 9

Table 2: Bakken Shale, Net Acreage by Company, 2020-21 19

Table 3: Bakken Shale, Reserves and Production by Major Companies, 2020 20

Table 4: Bakken Shale, Financial Standings of Major Companies, Q1 2021 21

Table 5: Bakken Shale, Operational Performance of Leading Operators, January 2020 – March 2021 22

Table 6: Bakken Shale, Planned Capital Expenditure by Major Companies, 2020-21 (US$ million) 27

Table 7: Bruin E&P, Bakken Shale, Key Operational Parameters, 2020 29

Table 8: Whiting Petroleum Corp, Bakken Shale, Key Operational Parameters, 2020 30

Table 9: Bakken Shale, Major Active and Announced Pipelines 33

Table 10: Bakken Shale, Major Deals by Oil and Gas Companies, 2018-21 36

List of Figures

Figure 1: Total Production across Bakken Shale, 2018-2021 6

Figure 2: Rig count in Bakken Shale, and West Texas Intermediate (WTI) future prices, 2019-2021 7

Figure 3: Bakken Shale, Crude Oil and Condensate Production by County (mbd), 2018-2020 10

Figure 4: Bakken Shale, Natural Gas Production by County, mmcfd, 2018-2020 11

Figure 5: Bakken Shale, COVID-19 Impact on Production, 2021 12

Figure 6: Bakken Shale, Production Outlook, 2021-2025 13

Figure 7: Bakken Shale, Number of Well Permits by County, January 2019 to March 2021 14

Figure 8: Bakken Shale, Number of Well Permits by Key Operators, January 2019 to March 2021 15

Figure 9: Bakken Shale, Well Profile for Crude Oil Production 16

Figure 10: Bakken Shale, Well Profile for Natural Gas Production 17

Figure 11: Bakken Shale, Quartile Distribution of EUR (mmboe) 18

Figure 12: Bakken Shale, Proppant Mass (million lbs) vs Lateral Length (ft) 23

Figure 13: Bakken Shale, Average Peak Crude Oil Production vs Lateral Length (ft) Quartile 24

Figure 14: Bakken Shale, Peak Crude Oil Production vs Lateral Length, 2019-2021 25

Figure 15: Bakken Shale, Total EUR vs Lateral Length, 2019-2021 26

Figure 16: Bakken Shale, Major Companies by Well Costs (US$ mil), March 2021 28

Figure 17: Bakken Shale, Major Active Crude Oil, NGL and Natural Gas Pipelines by Capacity, April 2021 32

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