North Dakota’s Oil Boom Keeps Booming, Sets Another Production Record In June

The latest oil production are in for North Dakota, and not surprisingly the state set more records in June, though the speed of the growth in oil production does seem to be tapering off just a bit. As Mark Perry writes, “The year-over-year increase in oil production of 71.1% in June followed annual increases of 75.5% in May and 73.5% in April, and those are the three largest increases in North Dakota history.”

Also from Perry:

The number of producing oil wells in the state surpassed 7,000 for the first time ever, setting a new record high of 7,130 wells in June. Over the last year, an average of 5 new oil wells have been put into production each day, and each new well is the equivalent of adding a new $8-10 million business to the state’s economy

Here’s the chart:

Drill, baby, drill.