About: North Dakota oil boom     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Sound107371293, within Data Space : dbpedia.org:8891 associated with source document(s)
QRcode icon
http://dbpedia.org:8891/describe/?url=http%3A%2F%2Fdbpedia.org%2Fresource%2FNorth_Dakota_oil_boom

The North Dakota oil boom refers to the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of Parshall Oil Field in 2006, and peaked in 2012, but with substantially less growth noted since 2015 due to a global decline in oil prices. Despite the Great Recession, the oil boom resulted in enough jobs to provide North Dakota with the lowest unemployment rate in the United States from 2008 to at least 2014. The boom gave North Dakota, a state with a 2013 population of about 725,000, a billion-dollar budget surplus. North Dakota, which ranked 38th in per capita gross domestic product (GDP) in 2001, rose steadily with the Bakken boom, and had a per capita GDP 29% above the national average by 2013.

AttributesValues
rdf:type
rdfs:label
  • North Dakota oil boom (en)
rdfs:comment
  • The North Dakota oil boom refers to the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of Parshall Oil Field in 2006, and peaked in 2012, but with substantially less growth noted since 2015 due to a global decline in oil prices. Despite the Great Recession, the oil boom resulted in enough jobs to provide North Dakota with the lowest unemployment rate in the United States from 2008 to at least 2014. The boom gave North Dakota, a state with a 2013 population of about 725,000, a billion-dollar budget surplus. North Dakota, which ranked 38th in per capita gross domestic product (GDP) in 2001, rose steadily with the Bakken boom, and had a per capita GDP 29% above the national average by 2013. (en)
foaf:depiction
  • http://commons.wikimedia.org/wiki/Special:FilePath/Drilling_the_Bakken_formation_in_the_Williston_Basin.jpg
  • http://commons.wikimedia.org/wiki/Special:FilePath/Night_view_of_the_H&P_drilling_the_Bakken.jpg
  • http://commons.wikimedia.org/wiki/Special:FilePath/Halliburton_preparing_to_Frack_the_Bakken.jpg
  • http://commons.wikimedia.org/wiki/Special:FilePath/Oilrig_USA_weekly.svg
dcterms:subject
Wikipage page ID
Wikipage revision ID
Link from a Wikipage to another Wikipage
sameAs
dbp:wikiPageUsesTemplate
thumbnail
has abstract
  • The North Dakota oil boom refers to the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of Parshall Oil Field in 2006, and peaked in 2012, but with substantially less growth noted since 2015 due to a global decline in oil prices. Despite the Great Recession, the oil boom resulted in enough jobs to provide North Dakota with the lowest unemployment rate in the United States from 2008 to at least 2014. The boom gave North Dakota, a state with a 2013 population of about 725,000, a billion-dollar budget surplus. North Dakota, which ranked 38th in per capita gross domestic product (GDP) in 2001, rose steadily with the Bakken boom, and had a per capita GDP 29% above the national average by 2013. By October 2020, total oil rig count in the state had fallen dramatically. According to the North Dakota Department of Mineral Resources, the total oil rig count in the state had fallen from 58 active rigs on October 3, 2019, to only 11 active rigs on October 3, 2020, a reduction of over 80 percent. The oil boom was largely due to the successful use of horizontal drilling and hydraulic fracturing, which made unconventional tight oil deposits recoverable. 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. (en)
prov:wasDerivedFrom
page length (characters) of wiki page
foaf:isPrimaryTopicOf
is rdfs:seeAlso of
is Link from a Wikipage to another Wikipage of
Faceted Search & Find service v1.17_git139 as of Feb 29 2024


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 08.03.3331 as of Sep 2 2024, on Linux (x86_64-generic-linux-glibc212), Single-Server Edition (62 GB total memory, 43 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2024 OpenLink Software