North Dakota – The monthly Director’s Cut meeting for the Department of Mineral Resources was held on Tuesday.
Over 4% more barrels per day were produced in September compared to August.
Gas production grew by over 3% in September, while gas capture nationwide reached 95%.
However, there might be adjustments soon.
According to the department director, Bakken could be affected by the results of the midterm elections in the state.
“Since it takes both houses acting on the CRA to overcome any kind of administrative rule is that it’s going to allow continued pressure against oil production and natural gas production in the United States. And that’s going to slow oil production growth certainly in the Bakken. I expect it’s going to hold it flat,” said Lynn Helms.
Storage of natural gas in the United States is 2% below the five-year average. The world and U.S. crude oil inventories are both below average.
The strategic petroleum reserve of the United States is at its lowest point since 1984.
