2023-09-14 22:13:26
The month of July turned out to be a historic month for the oil and gas industry in North Dakota, according to the North Dakota Department of Mineral Resources. The state reached record levels in natural gas production and capture, while also experiencing a significant increase in oil production. The state’s oil production reached 1.18 billion barrels per day, the highest level since December 2020.
Director Lynn Helms of the Department of Mineral Resources expressed confidence in reaching the goal of 1.2 billion barrels of oil per day before the end of the year. Helms commented: “If we have another two percent or two more months like this, we will exceed that 1.2 that we have been anticipating throughout the year. “It seems like it’s really within our reach.”
Despite this positive development, there are currently 33 active platforms in the state, which is lower than expected. Helms attributed the lower number of active platforms to challenges in recruiting staff and ongoing mergers within the industry. These factors have played a significant role in the current situation.
North Dakota’s record oil and gas production in July demonstrates the state’s continued prominence in the energy sector. With the potential to exceed expected oil production, North Dakota is poised to have a significant impact on the national energy landscape.
Definitions:
– Oil production: The process of extracting crude oil from the earth and refining it for various uses.
– Natural gas production: The process of extracting natural gas from underground reservoirs for use in heating, electricity generation and other applications.
– Active platforms: Drilling platforms that are currently in operation and actively drilling for oil or gas deposits.
Fuentes:
– KUMV (North Dakota Department of Mineral Resources)
– 2023 KFYR
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