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>>

  • Goldman in deal worth $1.2B over US bond claims

    Goldman in deal worth $1.2B over US bond claims

    Friday, August 22 2014 11:44 PM EDT2014-08-23 03:44:50 GMT
    Goldman Sachs has agreed to pay $3.15 billion to resolve claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007.
    Goldman Sachs has agreed to a settlement worth $1.2 billion to resolve claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed...
  • Gov't warns US retailers about hacking software

    Gov't warns US retailers about hacking software

    Friday, August 22 2014 10:17 PM EDT2014-08-23 02:17:46 GMT
    The Homeland Security Department is warning that more than 1,000 retailers could have a new malicious software program lurking in their cash registers that allows computer hackers to steal financial data about...
    More than 1,000 U.S. retailers could be infected with malicious software lurking in their cash register computers, allowing hackers to steal customer financial data, the Homeland Security Department said Friday.
  • Hamas kills 18 suspected informers to deter leaks

    Hamas kills 18 suspected informers to deter leaks

    Friday, August 22 2014 7:38 PM EDT2014-08-22 23:38:10 GMT
    A Gaza health official says two Palestinians have been killed in an Israeli airstrike as fighting continued for a third day after the collapse of Egyptian-led cease-fire talks.
    Gaza militants Friday gunned down 18 alleged spies for Israel in an apparent attempt to plug security breaches and deter others, a day after Israel killed three top Hamas military commanders in an airstrike likely guided...
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.