ND Insights Releases June 2016 Monthly Market Report

June 30, 2016

ND Insights Monthly Market Report – June reveals details in the first North Dakota GDP decline in two decades and largest oil production decline in state history. The latest report also includes a review of the nearly 30 thousand jobs lost in the oil producing job centers.

Updated Data Sets

Below is an inventory of the data sets updated in the June report and analysis:

  • ND State GDP: Total and by Industry (2015 Annual and 4th Quarter 2015)
  • Employment: Annual and Monthly by County (2015 Annual and 4th Quarter 2015)
  • Wages: Annual and Quarterly Average by County (Through December 2015)
  • Employer Establishments: Annual by County
  • Sales Tax Revenue by City (Through April May 2016)
  • Airport Boardings: Commercial Airports (Through April May 2016)
  • Gross Production Tax (GPT) Distributions: Monthly by County and City (Through March May 2016)
  • Crude Oil and Natural Gas Prices (Through May 2016)
  • Average Daily Oil Production by Month (Through April 2016)
  • Average Daily Gas Production by Month (Through April 2016)
  • Average Monthly Rig Count (Through April 2016)
  • Spuds (Through April 2016)
  • Completions (Through April 2016)
  • Well Totals: Producing, Capable of Producing, Not Producing, % Not Producing (Through April 2016)

Market Observations:

The June 2016 Monthly Market Report contains the following market observations, data and charts:

  • State GDP – Negative Growth for First Time in Nearly Twenty Years
  • Sharp Annual GDP Decline, Decelerating by Fourth Quarter
  • Mining alone Dropped $3.58B Dragging down Few Bright Spots
  • Quarterly Report Highlights Severity of Mining Collapse, Offers Hope in Real Estate & Ag
  • Employment – Steady Gains Outside Oil Patch, Sever Declines Inside It
  • Annual Average Employment Grows Steadily Outside Oil Patch
  • Williams County Looses Nearly 13k Jobs Since Peak – 16k More in Key Oil Counties
  • Average Daily Oil Production Down 187K bopd from Peak despite 916 More Wells
  • Production drops 70k bbls in April and 140k bbls in Past Five Months
  • 70% Decrease in Monthly Completions Key Factor in Declining ND Production

Details and Availability:

The ND Insights Monthly Market Report includes the latest market data and analysis including more than 15 indicators and over 35 charts in a rolling ten year view providing historical and trending perspectives. More information:

Monthly Market Report

About ND Insights

ND Insights is a single source for actionable market information and analysis empowering informed and enlightened decisions.  ND Insights gathers and analyzes numerous economic indicators including GDP, taxable sales activity, state tax distributions, employment and wages, and a plethora of oil and gas activity and data points. Services provided by the organization include Monthly Market Reports, Special Focus Reports, and Customized Reports and Consulting.

Contact

ND Insights, Jeff Zarling, 701-577-1100

jzarling@dawasg.com

www.NDInsights.com