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May 13, 2010

North Dakota Oil Production Hits a New High in March of 277,407 barrels of oil per day

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North Dakota Oil Production has hit a new high of 277,407 barrels of oil per day in March 2010. Most of the increased oil production is from the Bakken and Three Forks Sanish oil formations. This is an increase of 16,000 barrels of oil per day from February, 2010 and 41,000 barrels of oil per day from January 2010. Production could hit 300,000 barrels daily this summer, and 350,000 barrels next year according to Lynn Helms, director of the state Department of Mineral Resources. Helms said 112 rigs were drilling in western North Dakota's oil patch this week. North Dakota has had more than 100 drill rigs in the state since March.


"We've got a profile where we could actually reach 450,000 barrels a month," Helms said.

Steve Grape, the domestic reserves project manager for the U.S. Department of Energy's information administration, said California produces about 550,000 barrels of oil daily, compared with 635,000 barrels in Alaska and about 1 million barrels daily in Texas.

Saskatchewan part of Bakken

Petrobakken had average production up to 43,098 boe/d for the first quarter of 2010 Petrobakken is getting most of its production from the part of the Bakken oil field that is in Saskatchewan.

Crescent Point Energy is also a major player in the Saskatchewan part of the Bakken oil field.

Crescent Point acquired Shelter bay to get another 7300 barrels of oil per day from the Bakken.

33 page first quarter 2010 financial report

About 18,000 barrels of oil per day is from the Viewpoint (section of Bakken oilfield in Saskatchewan.)

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