• 10 hours Thanksgiving Gas Prices At 3-Year High
  • 14 hours Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 16 hours South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 19 hours Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 19 hours Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 20 hours Iraq Steps In To Offset Falling Venezuela Oil Production
  • 22 hours ConocoPhillips Sets Price Ceiling For New Projects
  • 3 days Shell Oil Trading Head Steps Down After 29 Years
  • 4 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 4 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 4 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 4 days Venezuela Officially In Default
  • 4 days Iran Prepares To Export LNG To Boost Trade Relations
  • 4 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 4 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 4 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 5 days Rosneft Announces Completion Of World’s Longest Well
  • 5 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 5 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 5 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 5 days Santos Admits It Rejected $7.2B Takeover Bid
  • 5 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 5 days Africa’s Richest Woman Fired From Sonangol
  • 6 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 6 days Russian Hackers Target British Energy Industry
  • 6 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 6 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 6 days Lower Oil Prices Benefit European Refiners
  • 6 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 7 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 7 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 7 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 7 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 7 days OPEC To Recruit New Members To Fight Market Imbalance
  • 7 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 7 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 7 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 8 days GE Considers Selling Baker Hughes Assets
  • 8 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 8 days Saudi Aramco To Invest $300 Billion In Upstream Projects

Breaking News:

Thanksgiving Gas Prices At 3-Year High

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

North Dakota Considers Slowing Down Oil Boom

North Dakota Considers Slowing Down Oil Boom

North Dakota is considering measures to slow down the oil rush in the Bakken to cut down on the state’s higher-than-average rate of flaring natural gas, which many people feel has gotten out of control.

The Associated Press reported that on April 22, the North Dakota Industrial Commission, which oversees oil and gas production in the state, took testimony from supporters and detractors of a proposed slowdown in oil production.

At the hearing, landowners decried the negative consequences of gas flaring, citing a threat to public health and lost revenue from burning natural gas instead of capturing it.

Industry officials pushed back, arguing that the companies are already taking voluntary steps to capture more natural gas than can be sold. Currently, oil and gas companies operating in North Dakota flare 36 percent of natural gas that is extracted, for lack of pipeline and processing infrastructure to capture it. That compares to a nationwide average of only 1 percent, and a worldwide average of only 3 percent, according to the Energy Information Agency (EIA).

But oil and gas industry representatives warned that less flaring would hurt business, and therefore, the state.

Related Article: Forget North Dakota, Texas is No. 1 for Oil

“If production curtailment is the chosen regulatory path, then wells will be shut in or not even drilled. Revenues will be reduced, taxes will not be generated and those jobs will be lost. And the gas will not be captured and used productively,” said Roger Kelley, director of regulatory affairs for Oklahoma City-based Continental Resources Inc., a prominent driller in the Bakken.

This isn’t the first time North Dakota has felt pressure to rein in its exploding oil and gas industry. Back in January, Robert Harms, the chairman of North Dakota’s Republican Party called for a more “moderated approach.” On April 22, one of the state’s two U.S. senators, John Hoeven (R), although stopping short of calling for slower production, said reducing flaring would help the economy and also improve energy security.

The North Dakota Industrial Commission is comprised of three officials: Republican Gov. Jack Dalrymple, state Attorney General Wayne Stenehjem, and state Agriculture Commissioner Doug Goehring.

By James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • Richard a LaPierre on January 09 2015 said:
    How much oil are they still importing from the east when they should be independent of foreign oil famous words(drill drill drill)

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News