North Dakota production is now up to 156K bpd as of May. It's risen 13.6% over the first 5 months of the year.
--> LINK <--
Texas is definitely getting nervous.
If I did my math right, at that rate it'll reach 200K bpd by May or June of next year.
Though I think they may soon be bumping up against local pipeline capacity limits. _________________ Abundance - what a concept!
Zeng said increasing the Bakken’s recovery rate by just 1 percent would produce an additional 2 billion to 4 billion barrels of oil, which would be worth between $200 billion and upwards of $400 billion at current oil prices.
The study
Research by members of UND’s Geology and Geological Engineering department will study the properties of the Bakken Formation, which stretches across parts of western North Dakota and eastern Montana, and look for ways to recover more oil trapped in the dense shale almost two miles beneath the surface.
The research project is scheduled to begin in October. It is funded by a $1 million federal grant from the U.S. Department of Energy that was announced Wednesday by North Dakota’s congressional delegation.
Zeng is coordinating the research project. William Gosnold and Richard LeFever of UND’s Geology and Geological Engineering department also will be involved in the project.
Geological structure
The study will look at the geological structure of the Bakken Formation and take a quantitative measurement of the magnitude and direction of pressure on the formation by examining rock samples.
It also will look into how and where to conduct horizontal drilling to attain the best results and how best to fracture the formation so oil trapped in rocks flows into horizontal wells.
[...]
And in the meantime, the aforementioned Three Forks/Sanish prospect seems to be getting a lot of attention lately.
MDU Resources pleased with ND drilling well
MDU Resources pleased with first well in Three Forks-Sanish Formation of North Dakota county
July 29, 2008: 10:33 AM EST
NEW YORK (Associated Press) - MDU Resources Group Inc. said it's pleased with early results of drilling in an area of Mountrail County called the Three Forks-Sanish formation.
MDU said its subsidiary, the Fidelity Exploration & Production Company, recently completed its first well to test the formation. A company statement said the well's average production over the past five days was 634 barrels of oil a day.
MDU President Terry Hildestad said that if the Three-Forks-Sanish formation proves to be a separate reservoir from the Middle Bakken shale, it will open new opportunities.
The Three Forks-Sanish formation comes from sand and porous rock directly under the Middle Bakken, which is two miles under the surface in western North Dakota and holds billions of barrels of oil.
MDU said Fidelity's interest in the Bakken includes more than 65,000 acres in Mountrail and Burke counties.
Northern Oil and Gas Announces Significant Bakken Discoveries
Monday, July 21, 2008
[...]
Northern is currently participating in Continental Resources' Skachenko 1-31H well in Dunn County, ND. The well is a direct offset to the Bice 1-29H, also drilled by Continental. The Bice well - announced in late May - is among the first Three Forks/Sanish discoveries in the region.
"Northern's first Three Forks/Sanish well is significant in that, if successful, it provides an additional opportunity to grow reserves and production in what we believe is another prolific oil resource within our leasehold position," Reger added.
Since our last earnings release we completed six significant single-lateral Bakken oil and gas producers in the Sanish field. Initial production rates from these six wells range from 1,719 BOEs per day to 3,245 BOEs per day with an average of 2,550 BOEs per day per well. We hold an average working interest of 81% and an average net revenue interest of 66% in the six new Bakken producers.
We plan to test the somewhat deeper three Forks formation in the Sanish field late in the third quarter of 2008. In the partial field we participated in 11 new Bakken wells during the second quarter. The new producers brought our net average production from Parshall to 5,000 BOEs per day in June up from approximately 3,000 BOEs per day in March.
Joined: Sep 17, 2005 Posts: 174 Location: The Netherlands
Posted: Sat Aug 16, 2008 7:42 am Post subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
skeptik wrote:
OilFinder2 wrote:
If I did my math right, at that rate it'll reach 200K bpd by May or June of next year.
To put that in perspective, that's the same as 4 or 5 top producing wells from Texas or Saudi back in the Glory days....
Well sure, but it will also earn you 22 million dollars a day at the lowest price ($110/bbl) possible. In those glory days 200K bpd would earn you a lot less. _________________ The man who moves a mountain begins by carrying away small stones.
Joined: Sep 25, 2005 Posts: 1985 Location: Waiuku, New Zealand
Posted: Sat Aug 16, 2008 3:04 pm Post subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
bl00k wrote:
skeptik wrote:
OilFinder2 wrote:
If I did my math right, at that rate it'll reach 200K bpd by May or June of next year.
To put that in perspective, that's the same as 4 or 5 top producing wells from Texas or Saudi back in the Glory days....
Well sure, but it will also earn you 22 million dollars a day at the lowest price ($110/bbl) possible. In those glory days 200K bpd would earn you a lot less.
Revenues might be 22 million a day. What are the costs?
Joined: Nov 18, 2004 Posts: 1085 Location: Central Texas
Posted: Sat Aug 16, 2008 7:13 pm Post subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
MattS wrote:
PeakOiler wrote:
Where is the positive slope in the graph after 1986? I don't see it...
What does a US graph have to do with the Bakken? Now a graph from Montana or North Dakota might make sense on this topic....
The point was obvious. I shouldn't have to explain it. If you can't make the connection, that's your problem. _________________ About my avatar: Guess.
Posted: Sat Aug 16, 2008 9:38 pm Post subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
PeakOiler wrote:
MattS wrote:
PeakOiler wrote:
Where is the positive slope in the graph after 1986? I don't see it...
What does a US graph have to do with the Bakken? Now a graph from Montana or North Dakota might make sense on this topic....
The point was obvious. I shouldn't have to explain it. If you can't make the connection, that's your problem.
Well maybe we can all move Montana and North Dakota, succeed from the Union, declare ourselves initiating members of Organization of Petroleum Exporting States (OPES) and get invaded. Then we invite George W to set up some US military palaces, Green Zones, and start an occupation.
Joined: Mar 26, 2008 Posts: 1157 Location: Seattle
Posted: Sat Sep 06, 2008 11:22 pm Post subject: Re: Bakken (U.S.) formation oil discovery - 4 billion barrel
OilFinder2 wrote:
OilFinder2 wrote:
North Dakota production is now up to 156K bpd as of May. It's risen 13.6% over the first 5 months of the year.
--> LINK <--
Texas is definitely getting nervous.
If I did my math right, at that rate it'll reach 200K bpd by May or June of next year.
Though I think they may soon be bumping up against local pipeline capacity limits.
Well I got that right - though there's some expansions in the works. Some info:
ND: Bakken potential stunted by infrastructure
ND: Government and industry officials say Bakken potential stunted by lack of infrastructure
September 04, 2008
[...]
North Dakota set an oil production record in June, at 166,000 barrels a day. Helms said the state's pipeline, rail and refining capacity is about 189,000 barrels a day, with another 30,000 barrels being added by the end of the year through two additional rail shipping stations and a pipeline expansion project.
Helms said about 51,000 barrels of capacity will be added in 2010 with a planned $120 million pipeline expansion by Enbridge Pipelines North Dakota LLC.
"The state is doing everything it can, and we're aggressively pushing additional rail and pipelines," he said.
Harold Hamm, chairman of Enid, Okla.-based Continental Resources Inc., said his company is forced to ship about 3,000 of its 20,000 barrels of daily oil production from the Bakken by rail because of the lack of pipeline capacity. That adds several dollars to the price of each barrel, he said.
[...]
Jones said a big part of North Dakota's capacity problems comes from increased shipments of Canadian crude on existing pipelines. He said when the Keystone project comes on line next year it will "de-bottleneck" existing pipelines.
"(Canadian crude) will be freed up to go on the Keystone _ big time," Jones said. "That is a fundamental benefit."
The company also is planning a crude pipeline from Alberta to the Gulf Coast. The pipeline is slated for completion in 2012, and will run through Montana on its route south, Jones said. TransCanada is "entertaining interconnections" to North Dakota's oil patch with that pipeline, he said.
So, by the end of the year, according to the article they'll have 189,000 bpd + 30,000 bpd = 219,000 bpd capacity. That means, if they can drill fast enough, they can beat my May or June prediction by 6 months or so.
Then in 2010 another 51,000 bpd capacity will be added with the expanded Enbridge pipeline, bringing us to 270,000 bpd capacity.
After that it sounds like it'll be up to the whims of Enbridge if they decide to add those "interconnections" to the ND oil patch with their Alberta-Gulf Coast 2012-planned pipeline. Unless someone comes up with something else in the meantime. _________________ Abundance - what a concept!
Enbridge Pipelines (North Dakota) LLC ("EPND") owns and operates a 330-mile crude oil gathering and 620-mile interstate pipeline transportation system that gathers crude oil from points near producing wells in 36 oil fields in North Dakota and Montana. This system is commonly referred to as the Enbridge "North Dakota Pipeline System." The interstate portion of the North Dakota System extends in an easterly to southeasterly direction from the EPND Alexander pump station facility in McKenzie County, N.D., and continues to the Enbridge Clearbrook Terminal in Clearwater County, Minn.
The North Dakota System Expansion Phase 6 (NDSE6) will relieve the bottleneck and apportionment of pipeline capacity that shippers are currently experiencing on the EPND System, delivering Montana- and North Dakota-produced crude oil into the Enbridge Clearbrook Terminal in Clearwater County. EPND proposes to optimize its existing pipeline system through the installation of certain appropriate upgrades at existing pump station sites. These upgrades will enable EPND to transport an incremental 51,600 barrels per day (bpd) of crude petroleum from the Williston Basin of North Dakota and Montana to the Enbridge Clearbrook metering facility. From Clearbrook, such volumes have access to refining centers throughout the Midwest and beyond through connections with the Enbridge Lakehead System and Minnesota Pipeline.
North Dakota oil production up to 171,751 bpd in July (LINK, bottom of last page). That's up from 137,644 bpd in January. _________________ Abundance - what a concept!
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