BISMARCK, ND — Industry observers say the recent drop in crude oil prices to around 60-dollars a barrel could lead to a similar drop in both rig counts and frac crews.
The state’s Mineral Resources Director — Nathan Anderson — says these factors, including recent mergers, will have an impact on the industry. He says he hears this from both large and small companies. Other analysts say it probably won’t be a long-term concern but is instead another cycle of peaks and valleys in the industry.
North Dakota averages more than a million barrels of oil per day.
