The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of the Parshall Oil Field in 2006, and peaked in 2012,[1][2] but with substantially less growth noted since 2015 due to a global decline in oil prices.[3]
The oil boom was largely due to the successful use of horizontal drilling and hydraulic fracturing, which made unconventional tight oil deposits recoverable.[4] Contributing to the boom was a push to commence drilling and production on oil and gas leases before the expiration of their primary term, commonly three to five years, at which time the leases would terminate unless a producing well was drilled on the lease. But once production was established, the leases continued as long as oil and gas were continually produced.
The boom created new jobs and economic growth in tandem with long-lasting negative effects, such as environmental degredation, pollution, infrastructure collapse, and an increased rate of sexual assault and other violent crime perpetrated by workers living in the area’s “man camps” against Indigenous women and children in neighboring reservations.
- ^ Nicas, Jack (April 6, 2012). "Oil Fuels Population Boom in North Dakota City". Wall Street Journal. Retrieved April 17, 2012.
- ^ Oldham, Jennifer (January 25, 2012). "North Dakota Oil Boom Brings Blight With Growth as Costs Soar". Bloomberg. Retrieved April 17, 2012.
- ^ Sankararaman, Darshana; Medhora, Narottam (January 29, 2015). "UPDATE 2-Helmerich & Payne may cut 2,000 jobs as it idles rigs". Reuters. Archived from the original on February 14, 2015. Retrieved October 3, 2020.
- ^ "The Facts About Fracking". The Wall Street Journal. June 25, 2011. Retrieved October 3, 2020.