North Dakota's Bakken Shale embodies much of the best of the US' oil revolution and has been a success in spite of global oil market fundamentals. Platts senior editors Brian Scheid and Herman Wang are joined this week by Congressman Kevin Cramer, North Dakota's only member of the US House of Representatives, to talk Bakken crude production and how it's been somewhat immune to low crude prices, cuts in capital spending and declining rig counts.
Production in the Bakken likely will stay steady, rather than hit the 2 million b/d level state officials and industry one hoped for. At the same time, with federal regulation continuing to weigh on future production hopes, an export policy change may be one of the few options Congress has to boost US supply, he says. Tune in to hear just how low breakevens can be in the Bakken and how oil prices are affecting other parts of the state's economy.
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