March 26, 2015

In This Issue

Low oil prices prompt ND oil production to decline 3 percent...

Forecast drops North Dakota's oil tax revenue another $1 billion...

Large trigger 'likely' to hit...

Oil price predictions...

Continental Resources adds to oil acreage at North Dakota auction...

Unlike in other oil-producing states, ND experiences little or no seismic activity...

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Continued growth: U.S. Census: Dickinson, Williston fastest-growing micropolitan areas in the country

Once again, Williston and Dickinson are the fastest growing micropolitan areas in the country, and other cities in North Dakota are following suit.

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Low oil prices prompt ND oil production to decline 3 percent

North Dakota oil production declined 3 percent in January to just shy of 1.2 million barrels per day, the Department of Mineral Resources said today.

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Forecast drops North Dakota's oil tax revenue another $1 billion

North Dakota's oil tax revenues took another nearly $1 billion hit in the latest revenue forecast released Wednesday, but the picture for general fund revenues was nearly $131 million rosier than in January, leaving some lawmakers scratching their heads as they pointed to slumping oil prices and a drop in drilling activity.

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Large trigger 'likely' to hit

State officials expect oil production to slide in April as low oil prices and declining rig counts begin to take their toll.

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Oil price predictions

Depressed crude oil prices continue to influence drilling activity both at home and abroad. Producers - each influenced by their individual balance sheets, cash flow requirements and government policies in some cases - are weighing out their options. Anticipating where the market may be headed is difficult at best.

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Continental Resources adds to oil acreage at North Dakota auction

Continental Resources, the second-largest North Dakota oil producer, spent $2.3 million at a state land auction for the right to explore for crude on 160 acres, outbidding its nearest rival with just seconds left on the clock.

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Unlike in other oil-producing states, ND experiences little or no seismic activity

Swarms of earthquakes have been rattling Oklahoma, Texas and other central states with a history of little or no seismic activity. The recent quakes, according to scientists, may be the fault of deep underground injections of wastewater left over from fracking.

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