Oil Boom in N. Dakota; March Output Sets Record

North Dakota crude oil production reached a new record high of 277,407 barrels of oil per day in March 2010 (see chart above, data here), with most of the increased oil production coming from the Bakken and Three Forks Sanish oil formations (source).

Oil production in North Dakota is growing exponentially and has now doubled over the last two years from fewer than 138,000 barrels per day in February 2008, and tripled over the last five years from 92,500 barrels per day in February 2005.

Associated Press -- "At the current pace, North Dakota is quickly gaining ground on California, the nation's third-biggest oil producer. (MP: North Dakota ranked ninth in 2006, and recently surpassed Louisiana to become the fourth largest oil-producing state.) Lynn Helms, director of the state Department of Mineral Resources, said North Dakota's 4,736 active oil wells pumped an average of 277,407 barrels a day in March, the latest figures available. The state was producing about 150,000 barrels a day in April 2008.

The record 8.6 million barrels produced in March was up from the previous high of 7.3 million barrels in February. Production could hit 300,000 barrels daily this summer, and 350,000 barrels next year."