When viewing the ND Oil and Gass Commission website, I’ve noticed that when a well comes off confidential status, for a time being the produced oil is referred to as “oil runs” rather than "oil produced. What does this mean?
Oil runs is the number of barrels sold and “oil produced” is the number of barrels produced. You receive payment on the barrels sold. There is usually a few barrels produced towards the end of the month that will be sold in the next month.