- North Dakota's crude oil production fell 2% in June to 1.03M bbl/day, hitting its lowest level in more than two years.
- The state's Department of Minerals Resources says production may already have dropped below 1M bbl/day and could take at least a year to recover if the level is breached.
- But in a positive sign for the industry, the state says the breakeven price for oil production at its existing wells has slipped to $26/bbl, showing that existing production remains profitable for companies that have aggressively cut costs.
- Companies with a presence in North Dakota's Bakken Shale include CLR, WLL, EOG, ERF, HK, HES, MRO, OAS, QEP, SM, STO, TPLM.