Oil prices rebounded in March

BISMARCK, N.D. (KFYR) - The Department of Mineral Resources’ May Director’s Cut showed that North Dakota’s oil and gas production saw an increase in March.

Oil production increased by 2.4% and saw an 8.5% revenue increase.

Natural gas production increased by over 5% to 3.4 billion cubic feet per day.

Nathan Anderson, the director of North Dakota’s Department of Mineral Resources, said the March rebound was expected due to February’s extreme cold temperatures.

Anderson also expects a slight reduction in fracking crews and rig counts in the future due to the currently volatile price market for the industry.