[South Dakota]

I live in Ross. 35000 thousand wells to be drilled is a lot of drilling especially when Hess has cut back on the number of rigs they are employing.
I think that our success is also killing us. There is no where to go with the extra oil.

We need a new pipeline

[Young Werther]

Minot has more oil than Saudi Arabia. The keystone pipeline could have created thousands of jobs and billions of dollars in increased GDP.

Our president is an eco-ignoramus so our wealth continues ot flow overseas.

[Smokin' Joe]

Hess and others will drill enough to retain leases by production. There is a balance to maintain (especially when prices are lower) between capital outlay and production.

(That is how Chesapeake got in a bind, imho, they invested more than the could recoup when Natural Gas prices slumped.)

This also puts some slack into the system, and opens the door to drilling cost reductions through rate cuts (because no drilling rig makes money when idle, in fact, from the day the derrick is laid over, it starts accumulating problems which will cost money later).

I've been in the oil patch for over 30 years, mostly here in ND, and this is familiar territory.

Wages in the oil industry tend to slump when prices do, unlike the public sector where wages tend to only increase or remain stable.

Every unnecessary expense the government imposes on the industry comes out of my pocket twice--up front in reduced compensation rates (though this is not always a given), and on the other side when I fill up. North Dakota has been good at working with the oil and gas industry, and maintaining the balance between necessary regulation and a business friendly environment.

OTOH, the Feds have been looking for any way to hurt the industry they can find.