Inactive wells increased by 1,000 in September

Oil well inactivity spike
Oil well inactivity spike(KFYR-TV)
Published: Nov. 21, 2020 at 2:07 PM CST
Email This Link
Share on Pinterest
Share on LinkedIn

BISMARCK, N.D. (KFYR) - Department of Mineral Resources leaders said the number of inactive wells from August to September increased by more than a thousand, from 2,719 to 3,749.

“The weakness in oil prices, we saw WTI get almost to $45 and then drop below $40, a lot of wells were allowed to go idle,” said Department of Mineral Resources Director, Lynn Helms.

Lynn Helms said without reversing the inactivity, those about 1,000 wells could become abandoned wells a year from now.

Copyright 2020 KFYR. All rights reserved.