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Abraxas restricts flow of Bakken wells on $21/bbl differentials

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Because of an “aberration in the North Dakota crude oil market,” Abraxas Petroleum has restricted rates on a number of new wells in the Williston Basin. Differentials jumped to $21/bbl in December, but the company was able to successfully lock in January differentials of less than $9/bbl. In McKenzie County, the four-well Ravin NE pad has been online for 25 days at restricted rates. Production per well has averaged 1,532 boe/d (77% oil). The 2.1 MMcf/d of gas production is......
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