Bakken Shale boom lifts North Dakota fund

摘要

Houston—North Dakota’s Legacy Fund, which went into effect last year, has taken in more money than anticipated due to galloping production from the Bakken Shale oil field there and higher oil prices this year, State Treasurer Kelly Schmidt said May 17. The fund, which was created by a ballot initiative in 2010 and took effect last July 1, now contains about $353 million, Schmidt said. With $44.8 million deposited into the fund earlier this week for May, the total puts North Dakota well ahead of its earlier target of accumulating $600 million by June 30, 2013.