NORTH DAKOTA (KXNET) — The Director’s Cut for August’s main theme was discipline and this helped with gas capture in our state.
In August, there was 95% gas capture. This set a new all-time high with more than 3.3 million cubic feet captured.
Currently, they are down to 377 wells waiting for completion.
According to Director Lynn Helms, the drilled but uncompleted wells are responsible for the production and they are now depleted as they are few to none in inventory.
Despite the good news, there were some concerns as well.
“The first one deals with U.S. storage, we are absolutely at the low point in terms of the five-year average. So non-SPR storage is low as we would ever want to see it,” said Lynn Helms, the director of the Department of Mineral Resources.
Helms says with all of the events going on overseas gas prices are likely to rise.