October oil production in North Dakota hit 747,239 barrels per day, 2.5 per cent more than the previous record — September.North Dakota, of course, is ground zero for America’s shale oil boom.
“North Dakota could join OPEC,” said Maury Harris, UBS chief U.S. economist.
The Bismarck Tribune reports total producing wells hit 8,025, compared with 7,899 producing wells in September.
The state’s Department of Mineral Resources director Lynn Helms says drilling companies “plan on having a very high-paced first half of 2013” in fracking wells, the paper says.
Although total drilling permits actually plummeted to 211 in November compared with 370 in October, Helms this was correcting an overhang.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.