North Dakota is one of the primary domestic sources for oil and natural gas. Going forward, the demand placed on the state's supply may increase as energy consumption is expected to continue in the coming years.
According to a study conducted by a number of state and industry officials, electrical demand in western North Dakota is projected to triple over the next 20 years. The rapid growth of residential and commercial development in the area coupled with emerging technology has increased the number of people using electricity. As a result, the region needs more energy to power its development.
On Tuesday, Governor Jack Dalrymple expressed satisfaction over the growth of his state and predicted even greater advancements in the future.
"We will continue to grow at a remarkable pace," Dalrymple said.
If energy consumption continues to increase, the demand for oil and natural gas will continue to grow and oilfield producers will be tasked with developing innovative solutions to speed up the extraction process. Building efficiency into all operations will require proper oilfield equipment such as artificial lift solutions, which can help producers extract oil quickly and safely.
The economic landscape is still very much uncertain. Areas like western North Dakota should continue to grow and add jobs, but if oil companies cannot supply adequate levels of energy, the area will struggle. This is not limited to North Dakota either. All over the country, commercial and residential development should be encouraged and oilfield producers should be taking proper measures to ensure they can meet growing demands.
To assist with their efforts, companies should partner with an oilfield technologies provider to acquire the right solutions to fit their needs.