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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.
As longtime readers know, the Bakken is an oil-rich area in North Dakota. Early estimates show this region could Billionaire John Paulson Is Bullish on This Bakken Stock
North Dakota has a commodity-based economy. North Dakota experienced an uptick in oil extraction from 2008-2014. [4] The legacy fund was established to ensure that the financial windfall gained from the Bakken Oil Boom would benefit the state in the long-run, even if oil prices collapse. [2]
The development of the region's Bakken formation has led to an oil boom economy and produced one of the lowest unemployment rates in the United States and renewed population growth in the state. [1] [2] Oil and gas is now the state's largest contributor to the economy, replacing the agricultural sector. [1] [3]
No doubt the Bakken has become a game-changer for U.S. energy production. But while the North Dakota oil boom gets referenced a lot, you may not know what's going on. Here are ten charts that tell ...
Momentum in the Bakken Shale play doesn't appear to be slowing down anytime soon, as companies drill as quickly as they can. Kodiak Oil & Gas' (NYS: KOG) recent results show a huge spike in ...
Most of that oil is coming from the five top oil-producing states. The chart below shows the five-year production history of Texas, North Dakota, California, Alaska, and Oklahoma. Source: EIA
This is a list of companies having stocks that are included in the S&P SmallCap 600 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 600 small-cap, mostly American, companies. Although called the S&P 600, the index contains 602 stocks because it includes two share classes of stock from 2 of its ...