In mid-January, when the North Dakota Department of Mineral Resources released its latest update on the Bakken oil boom—the “Director’s Cut,” a summary compiled by the Department’s Director, petroleum engineer Lynn Helms—I was surprised by the data. But I wasn’t the only one surprised. In presenting the latest data, through November 2014, Helms explained that the state had reached “record oil production—but just barely record oil production, not really a significant increase.” Looking at the history, oil production has been pretty much the same in September, October, and November. It looks like oil production is flatlining in North Dakota—and hence, in the Bakken shale. The bigger surprise came with the data on the pace of activity in North Dakota. The Director’s Cut gives statistics that show how fast the oil boom is going, including how many drilling permits the state issued and how many drilling rigs were active. One […]