Oil, gas production falls in May

BISMARCK, N.D. (KUMV) - Oil and gas production in the Bakken slowed down for the second month in a row.

Operators in the state produced a little over 1.11 million barrels per day in May. That’s a 5% drop from 1.17 million barrels per day in April.

The state also produced more than 3.3 billion cubic feet of gas, down about 3% in that same timeframe.

The rig count in North Dakota also dropped from 32 to 29.

Department of Mineral Resources Director Nathan Anderson attributes it to lower oil prices and mergers.

“The rig drops that we heard about or were expected to see, I believe we saw this month. If anything, it will be a rig or two up or down. I don’t see a significant increase or decrease as long as oil stays at this number,” said Anderson.

The WTI price has held around $65 a barrel, which is near the breakeven point in North Dakota.