Fargo, North Dakota – In the upcoming report on oil and gas production in North Dakota, a slowdown is anticipated to be seen as a trend.
“We know that December is going to be bad. We had the terrible blizzards and then we had the extreme cold weather, and so we know that looking out a little bit we’re not going to have the good production that we had in October and November,” said Lynn Helms, the state’s Director of Mineral Resources.
According to Helms, the expected slowdown comes on the heels of robust oil production in November, when oil production in the state totaled a little bit more than one million barrels.
In the meantime, Helms is expressing surprise at the drop in prices paid to natural gas producers.
“So we’ve had a lot of moderation in natural gas prices. In August, natural gas at Henry Hub was selling for almost $10 a thousand cubic feet and it’s down to $3.44. so that just gives you an idea of how volatile world oil and gas markets can be,” said Helms.
Additionally, Helms maintains his harsh criticism of the way in which the Biden administration has dealt with the oil industry.
“The Biden Administration continues to make a full on assault. They have no quarterly federal lease sale planned for the first quarter of 2023.
Helms appeared on “What’s on Your Mind” on AM 1100 the Flag.
