North Dakota Oil Production Up

In spite of the continuing decline in rig activity in North Dakota (4% last week), oil production from the Bakken in North Dakota has increased. Production in May 2015 reached 1.2 million barrels per day, the 2nd highest rate ever, and 32,000 bopd above the April production rate. The highest production month in North Dakota was December 2014 (1.22 million bpd). Lynn Helms, director of the ND Industrial Commission said, "Operators continue to experiment with running one to two fewer rigs than their planned 2015 minimum to see if drill times and efficiencies will continue to improve." He noted operators are trying to produce more for less cost.