The Williston Basin | September 2022
The Williston Basin is a large sedimentary basin along the eastern edge of the Rocky Mountains in western North Dakota, eastern Montana, and southern Saskatchewan, Can. The basin is characterized by thick sequences of sediments that underlie an area of about 110,000 square miles, and it is geologically closely related to the Alberta Basin in Canada. The first wells in the Williston were drilled in the 1936, and by 1954, 80% of possible producing acreage had been leased.
State Drilling Statistics
Active Drilling Rigs in Basin – 40 (+1)
Total Rigs in North Dakota – 38 (-2)
Total Rigs in United States- 769 (+10)
Total U.S. Rigs 42% YTD
Williston Top Producer
Top Producer – Continental Resources
Lynn D. Helms, Director of the North Dakota Division of Mineral Resources, was interviewed by Prairie Public Radio and discussed the acute labor shortage experienced by E&P and service companies in the Williston Basin in North Dakota. Helms articulated that North Dakota is currently “unable to attract the skilled labor that [it] needs in order to deploy more drilling rigs and more frac crews.” The North Dakota Division of Mineral Resources has vowed to devote more resources to attracting skilled labor in order to allow for more oil and gas production in the state.
Prairie Lithium Corporation announced the acquisition of three wells in Saskatchewan on the Canadian side of the Williston Basin. Purchasing these marginal wells for $1 each, Prairie Lithium is investigating the possibility of deepening the wells to the Duperow Formation. Prairie Lithium is currently extracting lithium from this formation in nearby wells drilled specially for the purpose. Prairie Lithium said, in a release, “These agreements highlight the synergies occurring between the emerging lithium and geothermal sectors”.
Summit Midstream Partners recently sold its Williston gas gathering assets to Steel Reef for $40 million. Summit plans on growing water and crude oil takeaway capacity in the Williston. Summit sold its gathering systems in Lea and Eddy Counties, New Mexico, to Matador Resources this June for $75 million. Summit, which operates in the Barnett, the Rockies, the Permian and the Marcellus/Utica, indicated that the divestiture of these noncore assets will allow them to focus on other projects and will assist the company in lowering its debt load.
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North Dakota Oil Production
North Dakota Natural Gas
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