Oil jumped to number 4 among oil producing states in the United States this past year.
Last year (2009) North Dakota set a record in oil production for the state: 80 million barrels.
2010: we've already surpassed that level of production and it is estimated that North Dakota will produce 110 million barrels in calendar year 2010. This represents a 38 percent increase over 2010, and everything suggests 2011 will be even bigger.
How big is the Bakken? North Dakota oil production now represents six percent of total US production, up from one percent less than three years ago.
Judging by oil company estimates of Eagle Ford potential, Texas will maintain its #1 position. EOG is claiming nearly a billion barrel oil equivalent reserve on their holdings. Barring the opening of Anwar, North Dakota could surpass Alaska and California. The rankings are somewhat deceptive, as they exclude offshore production. While offshore production lies beyond state lines and isn't subject to state taxation, the industries that support them are an integral part of these states.
ReplyDeleteHess342
Great post. Thank you.
ReplyDeleteI agree with your comments about off-shore drilling and thus, "the rankings are somewhat deceptive."
More later, when I get home from teaching at the high school: introductory physics today.