North Dakota Oil Output Posts Surprising Jump
North Dakota's daily oil production rose slightly in October, a surprising increase amidst plunging crude prices that shows the state's energy industry may be more resilient than previously thought to pressure from OPEC and other global forces.
The state produced 1,168,950 barrels of oil per day (bpd) in October, compared with 1,162,159 bpd in September, said the Department of Mineral Resources, which reports on a two-month lag.
Natural gas output rose 3 percent to 1,654,594 million cubic feet per day.
The number of producing wells hit an all-time high in October of 13,173.
The count of drilled-but-uncompleted wells fell 11 percent to 975, bucking a months-long trend where the number gradually grew.
(Reporting by Ernest Scheyder)
