ND oil and gas trend up

April was a good month for North Dakota’s oil and gas industry.
That from state Mineral Resources Director Lynn Helms. He held his monthly “Director’s Cut” briefing, where he discussed the April numbers.

Helms says oil production was up around one percent in April, compared with March.  North Dakota produced 1.3 million barrels per day in April. He also says natural gas production set a new all-time high, at just under 3.2 billion cubic feet per day, with 95 percent of the gas being captured. Helms says he’s especially happy with the improved gas capture situation on the Fort Berthold Reservation.

Helms says he’s expecting close to a two percent growth in oil production.  “We think we could see around 50,000 to 100,000 barrels a day in terms of production by year end.”

And Helms says he expects oil prices to remain in the $75 per barrel range.

NDPPR/KNOX