Dec 12 (Reuters) – North Dakota’s strict new
standards for oil treatment, requiring every barrel of crude be
filtered for dangerous types of natural gas, should add 10 cents
to the cost of producing every barrel, regulators said on
That’s roughly $3.7 million per month, statewide, based on
October’s monthly oil production of 36.6 million barrels. The
new standards take effect in April.
Dec 12 (Reuters) – North Dakota failed to set an oil
production record in October for the first time in eight months
as new anti-flaring standards and slipping oil prices forced oil
companies to throttle back output.
The results laid bare growing concerns about oversupply of
crude oil from the second-largest producing state in the United
States, with regulators warning North Dakota’s output may have
hit a ceiling. The U.S. benchmark for crude oil prices
has dropped nearly 50 percent since June.