Share About nine months ago, analysts at Petrologica began questioning the oil production data coming out of North Dakota. Faced with low prices, spending cuts and a rapidly falling rig count, production out of the Bakken play was down, but only modestly from December 2014 levels, when production peaked at about 1.23 million b/d. North Dakota operators were certainly struggling, but with new technology and a drilling focus on only the most prolific portions of the Bakken, supply was holding steady. Lynn Helms, the state’s top oil and gas regulator, said production would likely stay above 1 million b/d even if prices and rig counts continued to fall. “Operators are now committed to running fewer rigs than their planned 2015 minimum as drill times and efficiencies continue to improve and oil prices continue to fall,” Helms said in October. Many heralded the ingenuity of North Dakota producers and shrewd […]