(KNOX/KFYR) – The North Dakota Department of Mineral Resources is reporting the number of active oil wells hit an all time high in August.
There were more than 20,000 wells in August, and the state also produced roughly 1.16 million barrels of oil per day.
Officials say higher prices are pushing companies to bring wells into production faster, with the time between drilling and production cut nearly in half since the beginning of the year.
West Texas Intermediate oil prices are just a little above $100 per barrel.
North Dakota ranks third in the nation for crude oil production, and this increase is helping the state’s oil production exceed state revenue forecasts.
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