Home / Energy / Gov. Dalrymple: North Dakota oil industry ‘solid’
North Dakota Gov. Jack Dalrymple plans to meet with EPA officials to discuss CO2 emissions. The EPA Clean Power Plan has been met with resistance and is considered unnecessary federal overreach.
North Dakota Gov. Jack Dalrymple said today at the Williston Basin Petroleum Conference and Expo that the state's oil boom is far from going bust. (Image via Youtube)

Gov. Dalrymple: North Dakota oil industry ‘solid’

BISMARCK, N.D. (AP) — North Dakota Gov. Jack Dalrymple says the state’s unprecedented oil boom is far from going bust.

Dalrymple told an audience of several hundred at the Williston Basin Petroleum Conference and Expo in Bismarck that the oil industry is “as solid as solid can be.”

State Mineral Resources Director Lynn Helms says there are about 11,000 Bakken wells that have been drilled, and another 31,000 that are planned or permitted. Helms says a total of 65,000 wells are likely to come on line within the next 20 years.

North Dakota sweet crude was fetching about $50 a barrel on Wednesday. That’s about twice that of a low a few months ago.

Whiting Petroleum CEO James Volker says the Bakken will be “cruising” at prices above $60 a barrel.

In related news, Rig count rises slightly as North Dakota oil expo begins.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

2 comments

Leave a Reply

Your email address will not be published. Required fields are marked *

*