North Dakota oil production keeps growing | KXNet.com North Dakota News
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North Dakota oil production keeps growingAug 17 2006 8:50AM
Associated Press Assistant state Oil and Gas Division Director Bruce Hicks says the state could see more than 500 well permits this year. That has not happened in ten years. And oil and gas officials say North Dakota wells are producing more than 110-thousand barrels of oil per day for the first time in nearly 20 years. Oil and Gas Division Director Lynn Helms says 61 percent of the state's current oil production comes from horizontal wells, which are drilled at an angle. Officials say oil prices averaged more than 62-dollars a barrel during the second quarter of this year compared with 47-dollars-and-76-cents last year. (Copyright 2006 by The Associated Press. All Rights Reserved.) APNP 08-17-06 0831CDT |
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