BISMARCK, N.D. – The North Dakota Legislature is discussing a bill that could lead to expanded oil drilling outside of the state’s most productive oil-producing areas.
The House bill would reduce oil extraction taxes to two percent for the first 75,090 barrels of oil produced during the first 18 months of completion from a well drilled outside the Bakken and Three Forks formations.
Right now, the state maintains a five percent oil extraction tax and a matching oil production tax.
