North Dakota oil producers plan to drop rigs due to weaker prices, state regulator says

North Dakota oil producers plan to drop rigs due to weaker prices, state regulator says

HOUSTON — Oil and gas operators in North Dakota have indicated they plan to drop rigs and frac crews due to weaker oil prices, a move that is likely to impact output in the third largest U.S. oil producer, the state's Department of Mineral Resources said on Friday. Oil producers have started to slow output, dropping rigs, as prices have fallen below $65, the price required to break even. North Dakota breakevens have historically been in the $55 …