Oil production in North Dakota has surpassed Alaska’s, because of the tapping of unconventional hydrocarbon resources, an ExxonMobil executive said at an oil and gas summit in Dubai today.
Speaking at the NOCs (national oil companies) and Governments Summit, Frank Kemnetz, vice president of ExxonMobil Upstream Venture in the Middle East, said that the use of new technologies along with economic incentives and access to resources have led private companies to tap unconventional resources. “North Dakota produces more oil than Alaska because it started the development unconventional resources. About 90% of these products come from the Bakken Shale resources,” he said.
Kemnetz said that oil production increased from around 100,000 B/D in 1990 to more than 600,000 B/D currently.
Citing state statistics, he said that production in North Dakota is forecast to peak from 700,000 B/D to 1.2 million B/D, while the proved reserves is equal to 7 giga bbl of oil and the probable reserves is equal to 10 giga bbl of oil.
Kemnetz also said that gas production in the United States has increased noticeably in the past few years, thanks to the shale gas development, which accounts 58% of the total gas produced in the country.