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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 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]
With the persistently low price of oil in 2015, there was pressure on rigs to maximize drilling speed, with associated additional risks to the crews. In 2015, the oil boom in North Dakota was reported to have brought with it the highest worker fatality rate in the United States. [67]
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 ...
North Dakota's oil and gas production hit a new all-time high this past May according to recently released data from North Dakota's Industrial Commission. Preliminary estimates indicate that oil ...
North Dakota's Bakken Shale and lesser-discussed Three Forks formation are on pace to become one of the 10 top oil fields in the entire world. That'll happen once the region's oil production tops ...
Prior to the Dakota Access Pipeline, light sweet crude oil from the Bakken Formation was transported mainly by rail during the North Dakota oil boom. [4] [5] Extraction from the area increased from 309,000 barrels a day in 2010 to more than 1 million in 2014, with insufficient pipeline infrastructure to transport the increased extraction. [5]
This article was written by Oilprice.com -- the leading provider of energy news in the world. Also check out this recent article: Forget North Dakota, Texas is No. 1 for Oil A new survey from ...