May 21, 2014 at 10:37 am
North Dakota's top energy industry regulator says he expects April's oil production figures to be over 1 million barrels daily.
State Mineral Resources Director Lynn Helms spoke on Wednesday at the Williston Basin Petroleum Conference in Bismarck, which has drawn more than 4,000 people for three days of events. He says he expects oil production to increase from 977,000 barrels daily in March.
Helms says the Bakken shale formation in North Dakota and Montana is "an exclusive club." He says that out of the 65,000 oil fields worldwide, only 150 including the Bakken have exceeded 1 billion barrels of oil. North Dakota has generated more than 850 million barrels of Bakken crude, and Montana has produced more than 150 million barrels through the first quarter of this year.