Rebounding prices push North Dakota oil output to record
BISMARCK, N.D. (AP) — North Dakota’s oil production set a record in May due to rebounding crude prices.
The Department of Mineral Resources announced Friday the state produced an average of 1.24 million barrels of oil daily in May. That’s up more than 19,000 barrels daily from April, and more than 17,000 barrels from the previous record set in December 2014.
North Dakota also produced a record 2.38 billion cubic feet of natural gas per day in May. There were a record 14,755 producing wells in May, up 172 from April.
The May tallies are the latest figures available.
North Dakota sweet crude was fetching $62.50 a barrel on Friday, up more than $4 from the May average and more than $27 from one year ago.