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The Oil and Gas Research Program is a public fund that exists to promote the interests of the energy industry in North Dakota. The North Dakota Legislative Assembly appropriates money for the Oil and Gas Research Fund, which is administered by the Industrial Commission based on recommendations made by the Oil and Gas Research Council.
Night view of H&P drilling the Bakken. The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of the Parshall Oil Field in 2006, and peaked in 2012, [1] [2] but with substantially less growth noted since 2015 due to a global decline in oil prices.
An estimate of oil and gas mineral rights owned by North Dakota pegs their value at $2.8 billion, an 18% increase from last year, according to an appraisal released Thursday to the state Land Board.
Oil and gas are key to the economy of North Dakota, where hydraulic fracturing and horizontal drilling began an oil boom in the late 2000s. State officials pegged a preliminary all-time high of ...
This article was written by Oilprice.com, the leading provider of energy news in the world. U.S. Senators John Hoeven and Heidi Heitkamp, bipartisan leaders from North Dakota, said the oil boom in ...
Oil well drilling spread north, south, and west over a wide area, and soon extended Bakken oil production well beyond the boundaries of Parshall Field as defined by the North Dakota Industrial Commission. Bakken and Three Forks oil production have since been shown to form a very large laterally continuous oil reservoir, extending from Parshall ...
North Dakota has sued the Biden administration over its suspension of new oil and gas leases on federal land and water, saying the move will cost the state hundreds of millions of dollars in lost ...
The names and organizational structures of the state agencies overseeing oil and gas extraction vary. In Texas, oil and gas are regulated by the Texas Railroad Commission, in Oklahoma by the Oklahoma Corporation Commission, and in North Dakota by the Industrial Commission. In Colorado and Wyoming, the agencies are the state Oil and Gas ...