ND oil production increased 5% in July but less than hoped. | Russell T. Rudy Energy LLC
According to a recent article in “Rigzone”, North Dakota regulators report July oil production reached an all-time high of 1.1 million barrels of oil per day. This was up 5% over the previous month, but only about half of the expected increase, due to the state’s aggressive program to reduce flaring of natural gas.
Natural gas production in the Prairie State reached a new all-time high of 1.3 billion cubic feet per day as well, but flaring was reduced from 30% in June to 26% in July. The number of drilling rigs running in the state increased to 198, up 5 from June, but 9% below the record high.
Nevertheless, Lynn Helms, Director of the North Dakota Department of Natural Resources, told reporters that service companies are having trouble keeping up with completions for new wells because they are being drilled so quickly.
Investment in the Bakken shale has brought thousands of workers to North Dakota, making it the fastest growing state economy in the U. S. Regulators struggle to balance the benefits of developing resources with the need to continue to reduce flaring.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/134990/ND .
