North Dakota Becomes Second-Leading Oil Producer in United States

Alaska is no longer the second-leading oil-producing state in the United States. According to officials, North Dakota oil drillers pumped more than 17.8 million barrels of crude oil in March, surpassing Alaskas monthly output of 17.5 million barrels. North Dakota is currently drilling at record levels and shows little sign of reduction. The state produced more than 152.9 million barrels of crude oil in 2011, a spike of 40 percent compared to the previous year. The states Industrial Commission reported that the total number of producing wells increased from 6,726 in February to 6,921 in March. In 2006, North Dakota was the nations ninth largest oil producer. The states rapid increase in production is due to improved horizontal drilling techniques in the rich Bakken shale and Three Forks formations in the western portion of the state. Some estimate the Bakkan Formations, which run through South Dakota, North Dakota, Montana, and into Canada, could double the output of Alaskas Peugeot Bay. This formation currently accounts for roughly 25 percent of Americas domestic oil production. The boom has increased the states population to record levels. The U.S. Census Bureaus most recent count shows North Dakotas population reached 683,932 people, an increase of more than 11,300 residents from the previous year. This surpasses the states previous population record set in 1930. State officials are predicting that oil development projects could increase the population to one million in the near future. The drastic surge in production and the resulting economic activity has stimulated job growth in North Dakota. In fact, the unemployment rate in North Dakota is now the lowest in the country. The boom has already created thousands of jobs and is expected to create 65,000 new jobs by 2020. North Dakota is expected to be a major contributor to America achieving energy independence. Some experts predict that North Dakota could double its production to more than one million barrels a day by 2015 - the current oil production level of Texas. Despite the impressive figures, Texas remains the leading crude oil producer in the United States. In fact, Texas petroleum refineries can process more than 4.7 million barrels of crude oil every day. This equates to more than one-fourth of the United States refining capacity. Furthermore, our signature type of crude oil, known as West Texas Intermediate (WTI), remains the major benchmark of crude oil in the Americas. Considering the potential output of the states discussed and other domestic oil formations, aspirations for America achieving energy independence are becoming a reality. Over the past decade, new drilling techniques in the gas and oil industries have produced viable performing wells with unexpected

reserves. TAP Management Inc. and other domestic oil and gas producers are helping our nation achieve energy independence and creating thousands of jobs for Americans.