OIL ENERGY DEVELOPMENT
The North Dakota oil boom is an ongoing period of extraction of oil in western North Dakota that started in late 2008. In the backdrop of the 2008–2012 global financial crisis, the oil boom has resulted in enough jobs to give North Dakota the lowest unemployment rate in the United States.
As of 2012, the state is the 2nd largest oil producer in the U.S. with an average of 575,490 barrels per day. The current prediction is 800,000 barrels per day within three years.
Additional predictions forecast 35,000 to 40,000 new wells to be completed in the next 16 years, averaging between 2,100 to 2,500 wells per year.
North Dakota Oil & Gas Industry
Facts & Figures