Washington—North Dakota officials may soon grant Bakken operators up to a year more to keep wells uncompleted in order to wait out the ongoing decline in oil prices, the state’s top oil regulator said Monday. The potential shift in state regulations could prevent a surge in production expected early next year when hundreds of drilled wells will need to be completed or forfeited. It would also give producers the chance to suspend some production until market fundamentals improve, according to Lynn Helms, director of North Dakota’s Department of Mineral Resources.
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