Executive Summary
As a supplement to our usual regional coverage, this quarter we take a closer look at the Bakken, DJ Basin, and Woodford Shale. On an oil equivalent basis, the DJ Basin ended the review period 2% below production levels from a year earlier, while the Bakken ended at nearly 5% lower. Only the Woodford Shale ended the review period at a level above its November 2023 production, though at a negligible 0.1% higher.
While not nearly in the same league as the powerhouse Permian Basin, the Bakken Shale, DJ, and Woodford Shale play an important role in U.S. energy production. While these basins mostly experience the same impacts that U.S. energy policy and geopolitical matters have on the primary U.S. basins, they each have unique characteristics that differentiate them from the larger basins and each other. The Bakken has high-quality crude, a production profile shifting from oil to gas, and seasonal weather production interruptions. The DJ focuses on tighter formations that require newer techniques and technologies to keep production costs in check and most efficiently use of limited water resources. The Woodford and SCOOP/STACK have the dynamics of multiple formation layers and related multiple production zones that contribute to greater well depths and higher production costs. These shared and unique characteristics combine to add to the general complexity and dynamics of the U.S. exploration and production industry.
