BISMARCK, N.D., April 15 (UPI) -- Oil production in North Dakota has declined 4 percent since a record was set in December, largely because of lower oil prices, state data show.
The North Dakota Industrial Commission said oil production in February, the last full month for which data are available, was 1.17 million barrels per day, a 1.1 percent decline from January and a 4 percent decline from December. December's oil production of 1.2 million bpd was the all-time high.
NDIC Director Lynn Helms said a weak crude oil market and state targets aimed at reducing the amount of gas burned off during oil production was to blame for the decline.
"Oil price is by far the biggest driver behind the slow-down, with operators reporting postponed completion work to avoid high initial oil production at very low prices and to achieve NDIC gas capture goals," he said.
Some of the gas associated with oil deposits is burned off, or flared, because of the lack of infrastructure to utilize the resource.
Oil companies, meanwhile, are spending less on exploration and production because of low oil prices, off roughly 50 percent from June 2014.
NDIC said the rig count as of Wednesday was 91, the lowest since January 2010 and 58 percent below the all-time high from 2012.
More than 90 percent of the state's oil production comes from Bakken shale.
