Oil Production Continues to Increase - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Oil Production Continues to Increase


September was another month of records in the Bakken with almost 932,000 barrels of oil being produced a day.

But a new report issued by the World Energy Outlook says it might be difficult for the United States to become energy independent.

The report says shale oil production will start to decline in 2020 and that OPEC will take the top production spot.

Director of Mineral Resources Lynn Helms says the study most likely is too conservative and doesn't take into consideration enhanced oil recovery in shale resources.

"My opinion in the next ten to 15 years, technology will number one figure out how to do enhanced oil recovery in shale resources and number two, we'll figure out how to make normal pressure or under pressure shaled resources economic," Director of Mineral Resources Lynn Helms said.

As for now production is expected to continue to increase.

Helms expects the Bakken to be producing 1 million barrels of oil per day sometime next year.

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