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Bakken production may surge this summer, North Dakota official says

Mar. 20, 2015 10:33 AM ETContinental Resources, Inc. (CLR) StockCHRD, XOM, HES, EOG, MRO, CLR, NOG, EOXBy: Carl Surran, SA News Editor19 Comments
  • No matter how unfavorable market fundamentals may be to Bakken operators, North Dakota likely will see a big surge in production this June, potentially besting another supply record even if prices continue to crater, according to the director of the state's Department of Mineral Resources.
  • Production is expected to remain at 1.1M-1.2M bbl/day over the next few months before skyrocketing in June by nearly 10%, or an additional 75K-100K bbl/day, propelled by a state-mandated time limit on drilling and the expected trigger of a major oil tax incentive.
  • Top Bakken producers: CLR, EOG, WLL, HES, XOM, OAS, NOG, EOX, MRO

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