Bakken production will keep growing, albeit at a slower pace, and the Eagle Ford still has running room within high-return portions of the play, according to a recent analysis by Wood Mackenzie. The Bakken and Eagle Ford together produce just over 2.5 million barrels per day of oil, or nearly two-thirds of U.S. tight oil production. Higher oil prices in the 2013 to 2014 timeframe spurred operators to drill not only in the core of the Williston Basin, but in the fringe and speculative areas. This included areas along the Montana-North Dakota border, the northern most part of the play near the Canadian border, and the southern portion of the Williston Basin. Operators have responded to the decline in global oil prices from over $100/bbl last year to around $60/bbl today by reducing rig counts and retrenching drilling activity to the core Bakken area, Jonathan Garrett, principal analyst for […]