February was North Dakota’s second consecutive month to see a decline in oil production. While it wasn’t a significant production decline—dropping roughly one percent to 1.17 million barrels of oil per day (bopd)—it was the first time since December 2010/January 2011 that the state saw back-to-back production declines, said Lynn Helms, director of the North Dakota Department of Mineral Resources, during his April Director’s Cut. Along with production decline, rig counts in the Bakken continued to remain low in comparison to the same time one year prior. Drilling rig count dropped 27 from January to February, 25 more from February to March, and has since fallen 17 more from March to today. The number of well completions dropped from 63 in January […]