Oil And The US Economy -- Fox News -- October 14, 2014

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In North Dakota, the Bakken Formation produced one million barrels per day in April and May of 2014. The site’s remarkable success rate, according to the EIA, is based on its “low thickness and low permeability” of the reserves, which makes routine search-and-find exercises for new wells more accurate and more efficient.

But will a buyers’ market for energy prices remain sustainable into 2015?

Kloza said there is no reason to think otherwise. On average, he said over the next year the expectation is for gas prices to move between six and 10 cents lower than prices from the previous year.

Robert Ambs, a professional engineering recruiter in South Texas, said several projects in the Bakken aren’t expected to reach peak production until 2025. And companies in the petrochemical industry are adjusting asset expansion plans to accommodate the refining potential brought about by the increase in crude oil and natural gas in America.