For some time now I have called attention to one of America’s best energy stories in the continued growth of domestic oil and natural gas production in North Dakota. In September for the first time North Dakota oil production passed 10 million barrels for the month.
This means that North Dakota has now passed Equador, an OPEC member, as an oil exporter with August exports of 326,918 barrels per day compared to Equador’s 305,000 barrels per day. For September, North Dakota production exports increased to 500,000 b/d.
There are several reasons for this achievement including the amazing potential of new energy technology especially horizontal drilling and hydraulic fracturing which unlocks the smaller pockets of oil and gas that previously were uneconomic using traditional vertical drilling techniques. But the other factor is the pioneering industrious spirit of North Dakotans who know a good business opportunity when they see it. So now with 4877 wells in operation and new ones being added each month the state is showing the rest of the world what can be done when people, technology and a government eager to help them achieve their dreams work together.