This holds true in other formations, like the Mancos Shale in Colorado. Last year, the USGS said the natural gas industry could produce up to 66 trillion cubic feet of gas there, an astronomical jump from previous estimates. That confidence helped usher in a whole host of services to booming oil patch communities, like pipelines, trains, new roads, housing, restaurants and other amenities, he said.
Shale plays like the one here in North Dakota are competing for those dollars and the jobs they bring. The Bakken faces competition not just from other hot plays like the Permian in Texas. Hoeven said companies like ExxonMobil do business globally and have to choose where to make their investments.
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Nation pm. Top Stories. Most Read. Subscribe today. Advertise with us Talk with a business consultant Media kit Classifieds. Oil production out of North Dakota averaged about 1. Flaring natural gas releases methane, a potent greenhouse gas that contributes to global warming. Written By: Adam Willis am, Mar. An oil well pumps at sunrset in western North Dakota's Bakken Formation. Forum News Service file photo.
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