Northern focuses its efforts in the Williston Basin, one of America’s most prolific oil producing regions with over 13,000 producing wells stemming from the Bakken and Three Forks oil plays. The area is ideal for leveraging the Company’s strengths, including:
The United States Geological Survey’s (USGS) assessment of undiscovered, technically recoverable oil in the Bakken was pegged at 7.4 billion barrels in its most recent report. In 2019 the Bakken rig count fell only 5% vs. total Lower 48 rig count falling 26%, and the basin’s production continued its upward trajectory. Oil production has increased ~30% over the last three years and now hovers at ~1.5 MMbopd in early 2020.