BISMARCK, N.D. – State and industry officials have formed a group intended to help oil and gas producers recover from falling crude prices due to meager demand amid the coronavirus outbreak.
State Mineral Resources Director Lynn Helms announced the Bakken restart Task Force on Wednesday as the number of oil wells in the state has decreased by more than 40-percent in recent weeks and oil production hit its lowest level in five years.
Helms says the group is focused on proposals for regulatory relief, economic stimulus, tax relief and low-cost financing.
The group is scheduled to meet weekly.
