North Dakota’s oil and gas industry holds critical importance in the state’s economy, budget and communities. Minerals such as metals, natural gas, oil or coal are often an invaluable asset to their owner if they can be developed.
North Dakota’s legal system recognizes minerals as being owned by someone, even when they are in their natural state. Mineral rights in North Dakota may be owned by the land’s surface owner or by another individual or party, in which case the mineral rights are considered separate from the surface rights.
North Dakota Oil and Gas Resources
North Dakota is ranked No. 5 in the United States for energy production based on Barrels of Oil Equivalent (BOE) produced in 2021. The state’s oil and gas income is over $375 billion.
On average, a single well in North Dakota produces approximately 2,700 BOE, and there have been more than 700 oil and gas permits approved in the state to date.
As of 2021, there are 20-plus active oil drilling rigs in North Dakota, with the average well measuring over 14,000 feet in depth.
North Dakota Oil and Gas Industry
North Dakota’s oil and natural gas industry accounted for over $3.8 billion in state and local tax revenues, nearly 60,000 jobs and more than $40 billion in gross business volume in 2019.
In the same year, the North Dakota oil and gas companies employed nearly 24,000 people. Meanwhile, economic activity from the induced and indirect effects of the industry upheld an additional 18,000 and 17,000 in jobs, respectively, for a total of around 59,100 positions. Employment compensation was estimated at $4.5 billion — this includes employee benefits, salaries and wages.
Total gross business volume was estimated at $40.2 billion, including business generated from induced and indirect economic activity throughout the state and direct sales in the oil and gas industry. That figure represents more than 25% of business in the state.
Most Important Regions in North Dakota
Natural gas and oil production in North Dakota is largely concentrated in the state’s western region — in the Bakken and Three Forks formations — located in the Williston Basin.
Find Mineral Rights Ownership in North Dakota
If you live in North Dakota and want to determine if you have mineral rights, or if you are interested in how much your minerals might be worth, reach out to Rocking WW Minerals, LLC.
We offer free valuations and will dig up any information you need about your mineral rights. Let us help you get started on your search today.