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July 10, 2012

North Dakota Oil Production at 639,277 barrels per day in May

North Dakota's May oil production daily average was 639,277 barrels. 19,817,591 barrels of oil produced in May.

In April, 2012, there were 18.3 million barrels of crude oil pumped out of 7,025 wells. Daily production averaged 609,373 barrels. There was nearly a 30,000 bpd increase from April, which follows a 34,000 bpd increase from March.

The above state forecast is conservative. Continental Resources believes that recoverable oil could be triple the high end of estimate in the chart of 14 billion to 27-45 billion barrels

North Dakota could double its oil production by 2015 to more than 1 million barrels daily, putting it on par with Texas "if everything goes our way," the state's top oil regulator, Lynn Helms said.

At the current rate of increase, North Dakota could get to 850,000 barrels per day by the end of the year. This would require good weather to maintain drilling rates in the winter.



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