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July 14, 2010

North Dakota Oil Production for May 2010 at 296423 Barrels Per Day

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North Dakota's oil production for May was at another new record of 296423 barrels per day.

The May production was 9,189,101 barrels which is the first time that monthly North Dakota production topped 9 million barrels.

Continental Resources will increase its capital expenditure budget from $850 million to $1.3 billion to boost drilling and acreage acquisition in the Bakken Shale formation (mostly in North Dakota). Continental expects production growth of 15 percent to 17 percent and predicts growth to be even stronger next year.
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