BISMARCK, N.D. – Ron Ness, president of the North Dakota Petroleum Council (NDPC), welcomed today’s Director’s Cut report announcing North Dakota has surpassed 1 million barrels of crude oil production per day.
“This is a significant milestone that few countries and even fewer states have ever reached, underscoring the influence North Dakota has in enhancing our national security and our state and national economies,” said Ness. “Until April, only Texas, one Canadian province and 19 countries were producing 1 million barrels per day, putting North Dakota among the top oil producers in the entire world.”
Daily production of one million barrels per day is significant because it is a level only four other states – Alaska, California, Louisiana and Texas – have ever reached and until April, only Texas has maintained that level or above in the United States. In addition:
· Only one Canadian province – Alberta – and 22 countries have ever produced 1 million barrels per day. Today, Alberta and just 19 countries continue to meet or exceed that level of production.
· The Bakken has become the 10th oilfield in the world’s history to ever reach 1 million barrels of production per day. The oilfields include the Ghawar in Saudi Arabia, Burgan in Kuwait, Cantarell in Mexico, Daqing in China, Samotlor in Russia, Kirkuk in Iraq, Prudhoe Bay in Alaska, and the Eagle Ford and Permian in Texas.
· One million barrels per day is the equivalent of about 75 percent of our nation’s average daily imports from Saudi Arabia.
· Since 2006 when North Dakota’s first Bakken well was drilled, U.S. reliance on oil imports has dropped 18.5 percent.
“The Bakken is undisputedly a world-class resource that is providing a secure and reliable energy source for our nation,” said Ness. “While many of these oil resources have been producing for decades, the Bakken is a modern, technology-driven field that produces a significant amount of oil through horizontal drilling while reducing impacts on the surface allowing continued use for agriculture, community development, or wildlife and habitats.”
In addition to benefitting our national security, 1 million barrels of production per day also has positive benefits for the state and national economies and job growth, said Ness.
One million barrels is estimated to generate $50 million per day in economic activity and will contribute more than $11 million per day at the current oil price for a Bakken sweet crude barrel. Once refined, 1 million barrels of oil is enough to fuel more than 48,200 cars with gasoline and over that many vehicles with diesel.
“North Dakota’s oil and gas industry has been a boon to the state’s economy,” said Ness. “Drilling is expected to at least 14 to 17 more years, if not more with technological advancements, resulting in several more decades of production and economic stability and longevity that will allow our state to invest in its people and communities for many, many years to come.”
To recognize this milestone that has come as a result of the many hard-working men and women who are living, working and investing in our strong and growing communities, the NDPC will host a “One Million Barrels – One Million Thanks” Celebration on June 25 in Tioga. The celebration will be free and open to the public and will include a BBQ, talks from state and industry leaders, tours of the Clarence Iverson No. 1 well, a mini museum, aerial tours of the Tioga area, and an airshow by the Texas Flying Legends. For more information about the event, visit www.ndoil.org/events.
Since 1952, the Petroleum Council has been the primary voice of the oil and gas industry in North Dakota. The Petroleum Council represents more than 500 companies involved in all aspects of the oil and gas industry, including oil and gas production, refining, pipeline, mineral leasing, consulting, legal work, and oil field service activities in North Dakota, South Dakota, and the Rocky Mountain Region. For more information, go to www.ndoil.org.