North Dakota oil output rises back above 1 mil b/d in Feb

14 Apr 2017   Shale Oil

Up 5% from Jan; first month above 1 mil b/d since Nov Spring thaw will slash output, but rebound expected by May Bakken spot prices rise while breakeven prices fall North Dakota crude oil production rose back above the 1 million b/d threshold in February for the first time since November, but output could drop as low as 950,000 b/d in March or April as frozen roads thaw and force the state to impose weight restrictions on service trucks, the state’s top oil and gas regulator said Thursday. February’s preliminary output of 1.03 million b/d was 5% higher than January’s adjusted figure of 981,380 b/d, but it’s still well below the state’s all-time high of 1.23 million b/d in December 2014. Lynn Helms, director of the state Department of Mineral Resources, said during a press conference that he did not expect production to hit 1 million b/d until much […]

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