WSJ: North Dakota’s Oil Production Rises to New Record

The WSJ report on data released Wednesday by the state’s Department of Mineral Resources:

• North Dakota oil production rose to a record in November
• Energy companies drilled fewer wells
• Rig count dropped to a near five-year low
• Energy companies in North Dakota’s prolific Bakken formation are dialing back how much they spend on exploring for new oil deposits because crude prices are languishing. But there is more oil flowing from fewer wells as companies tap only their most promising and profitable reserves.
• Oil output across the state hit a record 1.19 million barrels a day in November, the most recent month available

More at the link, but it may be gated: North Dakota’s Oil Production Rises to New Record

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More: Oil gains nearly $3