State’s oil and gas industry experienced significant growth in June, with increased production and operational wells being driven by technological advancements and favorable market conditions.
BISMARCK — North Dakota’s oil production surged by nearly 2 million barrels in June, reflecting a robust growth driven by technological advancements and favorable market conditions, according to the latest figures from the North Dakota Industrial Commission (NDIC).
The state reported a total oil production of approximately 37.1 million barrels, up from 35.3 million barrels in May, with natural gas production also rising significantly. The number of operational wells increased, highlighting the industry’s resilience and ongoing expansion, particularly in leading counties like McKenzie, Dunn, and Williams.
In June 2024, North Dakota reported a total oil production of approximately 37.1 million barrels, a significant rise from May’s adjusted production of 35.3 million barrels. Natural gas production also showed an impressive increase, with 108.8 million cubic feet (MCF) produced, compared to the adjusted figure of 104.2 MCF from May.
The state produced 37,140,657 barrels of oil in June, up from 35,267,022 barrels in May. This marked a month-on-month increase of 1,873,635 barrels. Natural gas output reached 108,814,366 MCF, up from 104,181,310 MCF in May, reflecting a continued upward trend in gas extraction activities.
A closer look at county-level data reveals that McKenzie County led the state in production, contributing significantly to the overall output. McKenzie alone produced over 12.1 million barrels of oil and approximately 50.8 million MCF of gas in June, a testament to the region’s prolific Bakken formation.
Other notable contributors included Dunn County, with 9.0 million barrels of oil and 16.7 million MCF of gas, and Williams County, which produced 7.2 million barrels of oil and 22.9 million MCF of gas. These counties, along with Mountrail and Divide, consistently drive the state’s energy sector forward.
The number of wells capable of production increased to 21,356 in June, up from 18,973 in May. Of these, 19,094 wells were actively producing during the month, slightly down from May’s 19,094. The rise in operational wells is indicative of the industry’s recovery from previous downturns and reflects ongoing investment in exploration and drilling activities.
McKenzie County continued to dominate the state’s production landscape, with 6,320 wells capable of production, and 5,689 of these wells actively producing. Dunn County maintained a strong presence with 3,450 wells capable of production, highlighting its importance in the state’s overall output. Williams County saw 3,862 wells capable of production, contributing significantly to both oil and gas outputs.
June 2024 also saw a significant number of new permits issued, reflecting a continued interest in exploration and development within the state. A total of 123 drilling permits were granted, primarily concentrated in McKenzie and Dunn counties. The issuance of these permits aligns with the ongoing expansion efforts in the Bakken formation, where the majority of North Dakota’s oil reserves are located.
The upward trend in both production and operational capacity suggests that North Dakota’s oil and gas sector is well-positioned for continued growth. Market analysts attribute this resilience to several factors, including advancements in drilling technology, improved efficiencies in hydraulic fracturing, and sustained demand for fossil fuels domestically and internationally.
However, industry leaders remain cautious, acknowledging potential challenges such as fluctuating oil prices, regulatory changes, and environmental concerns. The NDIC continues to monitor these factors closely, ensuring that North Dakota’s energy production remains both economically viable and environmentally responsible.
Source: Here
