North Dakota oil production reached a record high in July and the Bakken is primed for growth. After months of being the red-headed stepchild to the Permian, the Bakken shale play is getting a resurgence. Crude oil production in North Dakota reached an all-new high for the second time this year in July, averaging 1.27 million barrels per day , according to the most recent figures available. Monthly oil production in July was 39.35 million barrels. Wood Mackenzie broke down some key factors that are attracting investments to the Bakken and nearby Three Forks formation (located just below the Bakken). “Operators are planning to spend $5 billion in planned CAPEX this year in these areas,” Pablo Prudencio, research analyst for WoodMac’s Lower 48 region, told Rigzone. “Operators are expected to spend more than $40 billion in the play over the next five years.” In August, shale producer Continental Resources […]