By November 29, 2017 0 Comments Read More →

Natural Gas Production in Bakken Region Increases at a Faster Rate Than Oil Production

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In North Dakota’s Bakken region, the ratio of natural gas production relative to crude oil, known as the gas-oil ratio, has been gradually increasing since 2008 and has increased at a faster rate since 2014. More than 90% of North Dakota’s crude oil and natural gas production comes from the Bakken region, which includes the Bakken and Three Forks formations.

Total North Dakota crude oil production peaked at more than 1.2 million barrels per day (b/d) in December 2014, but production has since dropped to 1.07 million b/d (as of August 2017), based on data in EIA’s Monthly Crude Oil and Natural Gas Production Report. The record crude oil production in late 2014 was the result of increasing crude oilproduction from the Bakken and Three Forks formations. Despite production declines in 2016, North Dakota remained the second-largest oil-producing state, accounting for 11% of total U.S. crude oil production.

While oil production has slowed in North Dakota, natural gas production has continued to grow, reaching a record high of 1.94 billion cubic feet per day (Bcf/d) in August 2017, or the energy equivalent of about 334,000 b/d of crude oil. Despite the increasing gas-oil ratio, North Dakota still produces more than three times as much energy from crude oil as from natural gas…

 

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