Regulators say reports of oil’s demise overblown

By Renée Jean, Williston Herald

Rumors of the Bakken’s demise have been greatly exaggerated, North Dakota’s oil and gas authorities said Wednesday, as they reported a 4 percent bump in January production to 980,294 barrels per day.

December’s precipitous 9 percent drop was fueled by extreme weather, Helms said. While January appeared to start out with more extreme weather that could have kept production on the down low, in the last 10 days of the month temperatures moderated and many wells were put back into production as a result, boosting the numbers more than anticipated.

“So we see production getting back on trend, really and coming up 38,000 barrels a day,” Helms said.

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