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Night view of H&P drilling the Bakken. The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of the Parshall Oil Field in 2006, and peaked in 2012, [1] [2] but with substantially less growth noted since 2015 due to a global decline in oil prices.
The oil boom initially was met by an “organic workforce" of western North Dakotans with experience in oil field jobs elsewhere, but as the economy reeled from the Great Recession, thousands of ...
The Parshall Oil Field is an oil field producing from the Bakken Formation and Three Forks Formation near the town of Parshall, in Mountrail County, North Dakota. The field is in the Williston Basin. The field was discovered in 2006 by Michael Johnson and sold the play to EOG Resources, which drilled, and now operates, most of the wells. [1]
Rail transport of crude oil has made a resurgence since 2005, largely due to the lack of pipeline capacity to transport the increased oil volumes from North Dakota. In 2014, 2.7 percent of crude oil arriving at refineries came by rail, up from 0.1 percent in 2005. Since 2012, oil shipped by rail from the Bakken fields in North Dakota has ...
There's just one problem: More oil requires more oil workers. By 2020, one industry report claims that the oil industry will have created an additional 1.3 million positions. "Even if we are ...
Oil and gas are key to the economy of North Dakota, where hydraulic fracturing and horizontal drilling began an oil boom in the late 2000s. State officials pegged a preliminary all-time high of ...
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