Will Bakken Oil Production Boost North Dakota Past Texas?

Bakken production surpassed 700,000 b/d in December 2012 and some analyst believe it is pumping closer to 800,000 b/d now. Production has surged over the past two years from just ~275,000 b/d in January 2011. On analyst stated that drilling in the Bakken -

"is like printing money. Capital is coming from all around the world, even Europe and Asia," said Fadel Gheit, an energy analyst at Oppenheimer. "It has single-handedly changed the outlook for oil production."

With an inventory of 30,000 plus wells, many are beginning to ask if the Bakken is the biggest oil play and oil producing region in the US. Texas produces a little more than 2 million b/d of oil and it's impossible to think the Bakken could eventually reach that level. If multiple benches of the Bakken and Three Forks prove commercial, I won't be the one saying it won't happen.

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