July 30, 2010

N.D. oil production at record high

N.D. oil production at record high
Mountrail continues as top oil producing county
Crude oil production in North Dakota rose to nearly 80 million barrels in 2009, an increase of 27 percent from 2008. This growth was the largest gain among the 31 oil-producing states.
However, it was less than the growth in offshore federal PAD (Petroleum Administration for Defense) District 3 in the Gulf of Mexico, which was 33.3 percent.
This month’s “Economic Brief,” a monthly publication from the North Dakota State
Data Center at North Dakota State University, focuses on crude oil production in North Dakota and the nation.
North Dakota’s oil production increased sharply in the late 1970s and peaked in
1984 at just less than 53 million barrels. Production declined throughout the late 1980s and early 1990s. After a small rise in the mid-1990s, production
slowed again. Production dropped to 29 million barrels by 2003.
Since 2004, crude oil production in North Dakota has grown an average of 21.1 percent per year to reach 79.7 million barrels in 2009, which surpassed the previous peak in 2008.
 


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