Comments Off on North Dakota Bakken: 1 Billion Barrels Produced, 32 Billion Barrels Remain

North Dakota Bakken: 1 Billion Barrels Produced, 32 Billion Barrels Remain

Posted by | June 6, 2016 | News

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Continental Resources, Inc. has stated the North Dakota and Montana Bakken oil field has produced 1 billion barrels of the light, sweet crude. According to IHS data, this milestone of cumulative oil production was reached in the first quarter of 2014. Couple this with the fact that North Dakota is poised to begin producing more than 1 million barrels of oil per day sometime this year and the true size and growth of this shale play begins to sink in.

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Comments Off on North Dakota Oil Production Closing On 1 Million Barrels A Day – July Hits New Record High

North Dakota Oil Production Closing On 1 Million Barrels A Day – July Hits New Record High

Posted by | June 1, 2016 | News

North Dakota oil jobs | Search jobs and post your open positions.

Oil and gas production in North Dakota hit a new record high in July as warm weather allowed more wells to be brought online. The poor weather conditions in the previous months had affected production and well completions. The wet weather in May and road restrictions not being lifted until June had many crews sitting idle and unable to deliver frack sand to the wells.

The drilling rig count slightly decreased from June to July, down one for a July total of 186. Once the weather started clearing at the end of June, well completions jumped 102 to 251 and resulted in a 6.4% increase in oil production. This is more than three times the number of well completions needed to maintain oil production in North Dakota. Completion crews outpaced drilling rigs for the first time this year. Oil and gas production statistics are provided below.

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Comments Off on New estimate places North Dakota Bakken Oil Field at 903 billion barrels of original oil in place

New estimate places North Dakota Bakken Oil Field at 903 billion barrels of original oil in place

Posted by | May 30, 2016 | News

Harold Hamm, CEO of Continental Resources

Harold Hamm, CEO of Continental Resources

Harold Hamm is a big advocate of the potential of the Bakken field and it appears his confidence in the play is well placed. Continental Resources has increased its estimates by 57%, to the tune of 903 billion barrels of original oil in place. There’s been no word on what the recoverable rate would increase to with this new data.

Earlier this year, Continental estimated the Bakken holds 24 billion Boe of recoverable reserves. With the US Geological Survey slated to complete its reassessment of the Bakken in 2013, it seems these numbers will only go up if the trend continues.

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Comments Off on 20,000 Jobs Available in North Dakota’s Bakken Oil Fields

20,000 Jobs Available in North Dakota’s Bakken Oil Fields

Posted by | May 24, 2016 | News

North Dakota’s Oil Boom To Grow Even Bigger

North Dakota is the No. 2 oil-producing state in the US, with an unemployment rate of 2.7% and 20,000 jobs looking for somebody to fill them. The oil boom that’s currently underway in the Williston Basin, heralded as the largest domestic oil discovery in the last 50 years, is promising to get even bigger, according to key state official Lynn Helms.

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Comments Off on Williston, ND: Population may top 44,000 by 2017

Williston, ND: Population may top 44,000 by 2017

Posted by | May 17, 2016 | News

Williston, ND has gained a little over 18,000 people since the start of North Dakota’s oil boom, mostly in the form of job seekers chasing high paying oil field work. The effects of North Dakota’s oil boom continues to amaze.

Population figures within the various cities keep surging ahead. Considering how unprepared most of us were for the flurry of activity that followed the boom, could our estimates be way off?

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