Latest Oil Numbers Break More Records - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Latest Oil Numbers Break More Records

Posted:

Records continue to fall in terms of oil production in North Dakota

Over 940-thousand barrels of oil were produced a day in October.

Records were also set for the month in terms of the number of producing wells and the amount of natural gas captured.

Director of Mineral Resources Lynn Helms says despite the high numbers he considers production "lack-luster" compared to what was expected.

Extreme cold weather had something to do with it.

Helms also says the fall in oil prices--from 93 dollars a barrel in September to around 73 dollars today--is forcing companies to make decisions to save money.

We've seen a complete turn-a-round in the movement of oil shifting back towards the rail. The rail capacity is there, rail transport facilities have the capacity as I stated to the legislature yesterday, they could move 90% of a million barrels a day if they needed to," says Director of Mineral Resources Lynn Helms.

In fact, for the first time over 700,000 barrels of oil were shipped by rail in October.

Helms also said today the state Flaring Task force would release its findings at the end of January.

Results of their research to reduce flaring were expected this month.

  • BusinessMore>>

  • Top South America hackers rattle Peru's Cabinet

    Top South America hackers rattle Peru's Cabinet

    Tuesday, September 2 2014 12:13 AM EDT2014-09-02 04:13:59 GMT
    The Peruvian hackers have broken into military, police, and other sensitive government networks in Argentina, Colombia, Chile, Venezuela and Peru, defacing websites and extracting sensitive data to strut their...
    The Peruvian hackers have broken into military, police, and other sensitive government networks in Argentina, Colombia, Chile, Venezuela and Peru, defacing websites and extracting sensitive data to strut their programming...
  • Asia stocks mostly higher, wages data boosts Japan

    Asia stocks mostly higher, wages data boosts Japan

    Monday, September 1 2014 11:51 PM EDT2014-09-02 03:51:08 GMT
    European shares drifted lower Monday as tensions over Ukraine simmered while Asian stock markets mostly rose on expectations of stimulus in China after manufacturing growth slowed in August.
    Asian stocks were mostly higher Tuesday after a jump in average wages boosted Japan's market but Hong Kong's benchmark retreated on weak Chinese data and concerns over tensions with Beijing.
  • Survey: Foreign companies in China feel 'targeted'

    Survey: Foreign companies in China feel 'targeted'

    Monday, September 1 2014 9:51 PM EDT2014-09-02 01:51:16 GMT
    An American business group warned Tuesday that foreign companies in China feel increasingly targeted for unfair enforcement of anti-monopoly and other laws and said investment might decline if conditions fail to...
    An American business group warned Tuesday that foreign companies in China feel increasingly targeted for unfair enforcement of anti-monopoly and other laws and said investment might decline if conditions fail to improve.
Quick Clicks
Closings/Delays
View list
Calendar
What's happening?
Lottery Results
Feeling lucky?
Viewer Photos
Submit yours!
Road Report
Current conditions
TV Listings
See what's on
Gas Prices
Check near you
E-Mail Newsletter
Signup now

Most Popular

Stories
Videos
loading...
Powered by WorldNow
General information or questions:
kxinfo@kxnet.com

News:
Bismarck:
Phone: 701-223-9197
News Fax: 701-223-1985

News:
Minot:
Phone: 701-852-2104
News Fax: 701-838-1050
All content © Copyright 2000 - 2014 WorldNow and KXNET. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.