Albuquerque

North Dakota oil production slips to No. 3 behind New Mexico – Albuquerque, New Mexico

Albuquerque, New Mexico 2021-09-18 19:12:24 –

North Dakota-North Dakota regulators say the state has officially lost its position as the second largest oil producer in the country after New Mexico.

North Dakota produced over a million barrels of oil per day in July. This is the latest month when data is available from the state’s oil and gas sector. July production will be 56,000 barrels per day, a 5% reduction from the June Bismarck Tribune. report.

Texas continues to lead the country in oil production. The Permian Basin spans parts of New Mexico and Texas, and it is no exaggeration to say that it is the largest competition for Bakken oil patches in North Dakota. The southern oil-producing region is close to major refineries and export terminals, attracting considerable drilling and investment within the oil and gas industry.

North Dakota has been ranked second only to Texas in oil production for nine years. It lost its position in New Mexico in July. The two states were neck and neck for several months.

Eighty-two rigs were drilled in New Mexico on Friday, well above the 27 in operation in North Dakota.

Apart from the right to brag, the state’s position has other implications.Rankings can affect oil companies’ ability to find investors to fund state projects, North Dakota regulators say Said..

North Dakota became the second largest oil producer in the United States as horizontal drilling and hydraulic fracturing technologies surged the state’s oil production early in the Bakken oil boom. In 2012, he overtook Alaska to take second place.



North Dakota oil production slips to No. 3 behind New Mexico Source link North Dakota oil production slips to No. 3 behind New Mexico

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