BISMARCK, N.D. (KFYR) - As the pandemic continues, the state’s oil and gas industry is continuing a downward trend in production and revenues.
In the second quarter, North Dakota went below a million barrels of oil production per day. The state had been producing at least 1.4 million a day for the past year.
For gas production, older wells are creating and solving problems for producers. While the older wells have been more difficult to maintain, they are also producing more.
“After they start producing for seven or eight years, they get infield quite a bit. That reservoir pressure starts getting low enough to where you start getting gas breaking out into the reservoir, and substantially more gas is being produced from those legacy wells," said SMR assistant director, Bruce Hicks.
Throughout the second quarter, oil was only selling $18 a barrel. A $20 drop from quarter one, and $30 drop from the end of 2019.
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September 28, 2020 at 04:46AM
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Legacy wells improving gas production - KFYR
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