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Tribune News Service
Tribune News Service
Business
Mike Hughlett

North Dakota producers not adding investment despite high oil prices

Even with petroleum prices rocketing in recent weeks, oilfield operators did not add any new drill rigs in North Dakota.

Nationwide, the drill rig count — a key indicator of new oil production — has risen, but it's still nowhere near its pre-pandemic level.

"It makes you a little a curious as to why our largest oil and gas companies are not ramping up," Lynn Helms, North Dakota's mineral resources director, said Tuesday during a monthly call with reporters.

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