Advertisement

Officials: North Dakota Oil Output May Peak within 5 years

Officials: North Dakota Oil Output May Peak within 5 years Photo: WDIO File

JAMES MacPHERSON Associated Press
Created: February 11, 2020 01:59 PM

BISMARCK, N.D. (AP) - State and industry officials say North Dakota’s oil production may peak within five years as companies finish drilling the most prolific portions of the state’s oil patch.

Advertisement

Mineral Resources Director Lynn Helms told lawmakers Tuesday that about 20% of drilling activity is now outside of the “core” areas of the state's oil producing region.

The state is producing a near-record average of 1.5 million barrels of oil each day.

Helms and North Dakota Petroleum Council President Ron Ness estimated production would peak at about 1.8 million barrels daily if prices hold in the next few years.
 

Credits

JAMES MacPHERSON Associated Press

Copyright 2020 The Associated Press. All rights reserved.

Advertisement
Advertisement

Grandma's Marathon canceled due to COVID-19

St. Luke's now offering virtual visits for patients

Thousands of pounds of food given away

Businesses and runners react to Grandma's being canceled

Local experts weigh in on financial advice during COVID-19 pandemic

New COVID-19 cases reported Tuesday in Ashland, Bayfield, Gogebic counties

Advertisement