The Department of Mineral Resources is looking into actions that it may need to take in light of the price plummet last month.
Regulators from the department wanted to discuss what price would equal waste of oil, what consequences would follow, and what relief may be necessary.
They gathered thoughts from industry leaders, tribal members, and energy consultants.
"Less government involvement and engagement on this topic allows them to make their free market and free enterprise decisions, which ultimately will hopefully allow a return to economic times," said Ron Ness, Petroleum Council president.
"We do believe that it is time, and right for the industrial commission to take some action," said Blu Hulsey, Continental Resources.
Members of the North Dakota Resource Council had their own take on natural gas waste they wanted to share.
"It's allowed to be burned and vented and leaked, but could be captured and contained and supply hundreds of residents with heat in homes in the sub-freezing winter temperatures of North Dakota," said Joletta Bird Bear, mineral owner.
Texas and Oklahoma have also recently discussed state mandated production cuts.
The hearing will inform the industrial commission's work in the months to come.