Posted on 06/17/2008 12:11:30 PM PDT by upsdriver
BISMARCK — A single successful oil well tapped below the Bakken shale formation in western North Dakota has spurred speculation that a separate — and perhaps rich — oil-producing reservoir may be buried in the state’s oil patch.
Enid, Okla.-based Continental Resources Inc. says its new oil well in Dunn County produced an average of about 700 barrels of oil a day during its first week of production last month.
It was Continental’s first well in the Three Forks-Sanish formation, said Harold Hamm, the company’s chairman. The formation is made up of sand and porous rock directly beneath the Middle Bakken, which lies two miles under the surface in western North Dakota and holds billions of barrels of oil.
(Excerpt) Read more at minotdailynews.com ...
When North Dakota enters the union, it will be the 58th state.
My computer must be slow today. ;-(
Drill it boys!!!
Now about those refineries.....
I live in Minot. Oil and oil related support companies are BOOMING in this area. New shops springing up all the time in this once sleepy little town.
700 barrels per day. 300 wells. 210,000 barrels per day from all wells.
American consumption: 20,000,000 barrels per day. Bakken production: 1.05%
It’s a start, but there is a long way to go.
BENEATH the Bakkan?
With the amount of energy and nukes here in North Dakota, we could be one of the richest, most powerful countries in the world. Instead, we are merely one of 57 average states. I say we should secede from the union.
Is this the same Bakken field that has been covered on FR for the past few months.
OK, it’s not offshore...there aren’t any polar bears or caribou around...the local population isn’t opposed to the drilling...how on earth are the Democrats going to stop this now?
But he does know were OPEC is. Once he's president and North Dakota is producing millions of barrels a day, OPEC will invite him to be part of their exclusive club. This is great news!
Maybe South Dakota will take you back now!
Would you know if any of the oil growth is affecting or coming from the Bottineau/Souris area?
Howdy, neighbor! I live west of Minot. I know what you mean, it is exciting times for the state. There is no economic slow down here.
btw, welcome to FreeRepublic!
At $140 per barrel and 700 barrels a day, the well will pay for itself in less than 2 months.
LOL!! Nah, South Dakota is beneath us!:)
200,000 x $90 dollars a barrel would make soem folks in that area real rich, there would be plenty of jobs and lots of new construction, so the amount of oil is a small part of the equation. You point AND mine is that drilling in 20 places and getting 1.05% at each location would help in our oil needs AND create some great jobs. There might even be some tax revnues from all this captialism.
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