North Dakota's October oil and gas numbers are looking very good.
"It should be a very happy holiday for the state of North Dakota," said North Dakota Mineral Resources Director Lynn Helms, as he released his October "Director's Cut" report. "We set a new record in oil production -- first time ever over 1.5 million barrels a day. That's a 5 percent increase."
Helms said natural gas production was up 4 percent. But the percentage of goas being flared remained the same, due to the production increase.
Helms also said the oil price was about two percent higher than the revenue forecast.
Helms said what will help the natural gas capture going forward is the opening of the Elk Creek Natural Gas pipeline, which will take natural gas liquids from its terminal in Sidney, Montana south. He said this will help four natural gas processing plants get to 100 percent capacity.
"That's enormous," Helms said. "They have all been operating well below capacity because of the inability to move natural gas liquids"
Helms said the state should see significant improvement in gas capture when the December numbers are released.
