Oil production in N.D. nears major milestone

Within a year, crude oil production in the Bakken is expected to exceed 1 million barrels a day. That impressive estimate comes from Genscape, a global provider of energy data for other businesses.

Hitting the million-barrel mark will be an impressive feat for North Dakota, which in recent years has jumped from ninth to second place among oil-producing states. Texas is the only state that produces more oil.

Jodi Quinell, a Bakken expert with Genscape, talks about the amazing growth of oil production in western North Dakota with host Bill Daniels in the latest edition of The Hegg Bakken Report, a weekly podcast produced by the Hegg Companies Inc. The podcast can be accessed at http://heggbakkenreport.podomatic.com.

Crude oil production in North Dakota is at about 860,000 barrels a day and climbing. It is expected to hit 1 million next May.

Surpassing the million-barrel-a-day mark in daily production will be “a pretty significant number to reach,” Quinell says.

Even more significant, from my perspective, is that the record-setting oil production levels will continue to drive economic growth throughout the Bakken.