State’s oil, gas production craters in May
By Neal A. Shipman
If North Dakota’s oil and natural gas production was bad in April, it was even worse in May according to Lynn Helms, North Dakota Department of Mineral Resources director.
In May, according to Helms, the state produced 850,000 barrels of oil per day, a 30 percent production drop from April’s figures setting a new record in month-to-month decline. That comes on the heels of a 15 percent decline in April when production declined to 1.2 million barrels per day.
At the same time, the state’s natural gas production fell to 1.9 billion cubic feet per day, a 29 percent drop from April’s production of 2.712 billion cubic feet per day.
“The second quarter of 2020 was a five-alarm fire for North Dakota’s oil and gas industry,” stated Helms, during his monthly Director’s Cut on Friday, July 17.
Helms blamed the production drop on the OPEC+ agreement falling apart, the COVID-19 pandemic that destroyed 30 percent of the world’s demand for liquid petroleum products, the Dakota Access Pipeline lawsuit and the possibility of Northern Border tariffs.