Oil in North Dakota By larsonkat Period: Jan 1, 1950 to Jan 1, 2015 Oil in North Dakota Jan 1, 1951 First Oil Wells Drilled in North Dakota Jan 1, 1952 First Oil Boom Started Jan 1, 1953 Formation was Named the Bakken Jan 1, 1968 First Oil Boom Ended Jan 1, 1980 Second Oil Boom Started Mar 1, 1989 Exxon Valdez Oil Spill Jan 1, 1992 Second Oil Boom Ended Jan 1, 2005 Third Oil Boom Started Feb 9, 2005 Keystone Pipeline Proposed Jan 1, 2007 ND Ranks 8th in Oil Production Jan 1, 2008 ND Ranks 6th in Oil Production Jan 1, 2009 ND Ranks 4th in Oil Production Apr 20, 2010 BP Oil Spill Jan 1, 2011 Legacy Fund Created Jan 1, 2011 ND Ranks 3rd in Oil Production Jan 1, 2012 ND Ranks 2nd in Oil Production Apr 29, 2013 Flaring Legislation Changed Sep 1, 2013 Largest Oil Spill on US Soil Dec 30, 2013 Casselton Oil Spill Jan 1, 2014 Positive Environmental Impact Statement Released Apr 1, 2014 ND Projected to Reach 1 Million Barrels