It would appear some feel that model is, well, a wee bit conservative.
Oil company CEO Hamm predicts 2 million barrels per day potential$this->bbcode_second_pass_quote('', 'M')ay 23, 2014 - As North Dakota oil production approaches the milestone of producing 1 million barrels a day, CEOs of three top Bakken companies said Thursday that’s only the beginning.
Continental Resources CEO Harold Hamm said he projects that technology advancements will push the state’s production to 2 million barrels per day.
“I don’t think that’s over the top, folks,” Hamm said Thursday, drawing applause during the final day of the Williston Basin Petroleum Conference.
Hamm and CEOs of Whiting Petroleum and Oasis Petroleum said they have up to 20 more years of drilling in the Bakken at the current pace, with decades of more oil production after that.
“We’ve got a resource life here that’s 50 to 60 years,” said Tommy Nusz of Oasis. “It’s not your father’s oil boom anymore. This is going to part of life in North Dakota for a long time.”