North Dakota’s Bakken Shale is providing a wealth of new oil production to the U.S., along with bountiful economic activity. The Bakken could be producing as much as a million barrels per day by 2020, and extraction of this oil is benefiting the region and the country through the creation of thousands of jobs and the generation of substantial revenues from taxes and royalties. The infographic below illustrates the oil-producing potential of the Bakken, the robust activity in the region, and the economic benefits that flow from its development.
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Cairn Oil & Gas will drill about 300 development/injection wells and construct 205 well pads to increase production from the Barmer fields.
Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, Baker Hughes, a GE company (NYSE: BHGE), said in its weekly report.
The independent U.S. energy producer aims to take a final investment decision on the $20 billion project in the coming months, having signed up long-term buyers for its LNG.