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Million barrels a day is the ‘new normal’ for North Dakota

Published: Sep 18 2017
Photo courtesy Williston Herald

There’s a new normal for oil production in the state, and it looks to be at a million barrels a day. The information was part of the state’s monthly oil production report, which showed a 1.4 percent increase in July over June numbers to an average of about 1.05 million barrels per day.

The increase equates to about 15,000 barrels a day of oil. Natural gas had about the same percentage increase, which is about 25 million cubic feet per day.

“We’d talked in earlier webinars and said there was a good possibility of dropping below a million barrels a day late this year or early next year,” Lynn Helms, Department of Mineral Resources director said. “But with the oil price where it is and the rig count where it is and the number of frack crews where they are, we can be comfortable staying above that million barrels a day. That’s the new normal. It’s a soft landing.”

Read more at http://www.willistonherald.com/news/million-barrels-a-day-is-the-new-normal-for-north/article_3736760a-9a84-11e7-892f-9b86dee34135.html

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