NORTH DAKOTA REACHES NEW PRODUCTION RECORDS
Crude Life analyst Jason Spiess reported that North Dakota has reached new records in both oil and gas production. May preliminary data released by the Oil and Gas Division indicates North Dakota is now producing 1,244,629 barrels of oil per day – an increase of 17,146 barrels from the last record set in December 2014.
“This is a very encouraging time for North Dakota as oil and gas operators and service companies have developed drilling rigs that are twice as efficient as they were in 2014 to drill and complete permitted wells,” stated Lynn Helms, Director of the Department of Mineral Resources. “Closing the gap between current wells producing and the wells capable of producing will add to 2018 production numbers so we should continue to reach new highs.”
North Dakota also continues to set record numbers for gas production reaching 2,318,754 MCF per day according to May data. Increasing gas production has increased pressure on operators to meet requirements of the North Dakota Industrial Commission’s Gas Capture policy. This month the Oil and Gas Division also announced gas capture was at 83% in May. The current capture goal is 85% and is scheduled to increase to 88% in November 2018. This is the first time since October 2017 that industry has not met the commission goal.
(Source: Bakken.com – Image: Driller in North Dakota/Williston Herald)
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