Though December oil production was at an all-time high, rig activity in North Dakota is on the decline, state data released Monday show. The North Dakota Industrial Commission reported 137 active drilling rigs in service in the state as of Monday, a 26 percent decline from the same date in 2014 and 31.5 percent less than the historic peak reached in 2012. The rig count for Monday is the lowest in five years. Oil prices have declined to the point that most energy companies have enacted staff reductions and cut back on spending plans for exploration and production for 2015. The slump in oil price is a reflection of a market skewed toward the supply side because of production from states rich in shale reserves, like Texas and […]