US state hit peak production in 2014
HOUSTON, June 17, 2015 – Crude oil output in North Dakota has peaked, according to data provided by the state government.
The US state produced 1.17 million barrels of oil per day (bopd) in April this year, which is down from a peak of 1.23 million bopd in December 2014, the Department of Mineral Resources of North Dakota reported on Friday.
Daily crude oil production in North Dakota grew rapidly between January 2008 and December 2014, rising from just under 200,000 bopd to 1.23 million bopd.
The former rapid growth in production from 2008-2014 has stalled and current output is no higher than it was in September 2014.
Output increased by 233,000 bopd from February to September 2014, while in the seven months between September 2014 and April 2015, output actually edged down by 18,000 bopd, Reuters reported.
State regulators cite prices, tough rules on flaring, changes to the tax system and new regulations on oil conditioning as reasons for the downturn.