Bakken – Gotta Spend to Produce

This week, we have compiled the latest Bakken data with four key operators reporting Wed / Thur (CLR, WLL, OAS, WPX) and EIA North Dakota production due on Friday. As a broad takeaway, North Dakota production has held a tighter correlation to spending than any other basin (partially due to maturing efficiency gains), implying that producers have limited room to slash Bakken capex or risk production cuts.

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