Tax exemption for oil wells outside North Dakota core areas approved by Senate

As North Dakota’s oil patch matures, lawmakers are eyeing ways to tap into what lies beyond the Bakken. A new bill passed by the Senate aims to spur drilling in lesser-known formations by offering a temporary tax break—cutting the extraction tax from 5% to 2% on qualifying wells. The measure also proposes a study of long-running tax exemptions for low-producing “stripper” wells, which now make up nearly half the state’s total. It’s a debate that blends geology, economics, and long-term fiscal strategy. Jeff Beach with the North Dakota Monitor has the full story; bill details can be found below.