Monthly oil output in North Dakota, which increased in May to 1.24 million barrels per day establishing a new all-time record production high, surpassing the previous record of 1.23 million bpd in December 2014. More than 95% of North Dakota’s oil comes from the shale-rich Bakken region in the western part of the state, and oil production in the Bakken also set a new record of 1.19 million bpd in May. Remarkably, oil production in the Bakken oil fields in early 2007 was only 12,00o bpd, so the production last month represented a 100X increase in oil output in just a little more than a decade. And then the Shale Revolution happened…..
Via Mark J. Perry