Skip to comments.Wow, North Dakota, Thatís a Lot of Oil
Posted on 03/20/2013 7:04:57 AM PDT by jwsea55
It's no secret that North Dakota has been in the middle of an oil boom since about 2008, but a new chart from the North Dakota Industrial Commission, Department of Mineral Resources, shows just how steep the increase has been.
As of 2006, the state was only producing about 100,000 barrels of crude oil per day, putting it on par with other mid-tier oil producing states like Kansas, Colorado and Montana. But new hydraulic fracturing techniques and the opening of the massive Bakken formation to drilling changed all that, and as of January 2013 the state was producing an average of 770,000 barrels of crude per day, for a total of 23,834,000 barrels per month. That's double the amount the state was producing just two years ago.
(Excerpt) Read more at finance.yahoo.com ...
Obama's payoff to Warren Buffett.
Time to get some tree-huggers up there to stop the rape of mother Gaia.
That’s a serious amount of oil. The existing Keystone pipeline and the proposed (and currently blocked) Keystone XL pipeline (for the Alberta oil) both go via North Dakota. This find, by itself, would justify pipeline expansion.
North Dakota Field Production of Crude Oil
Nonsense. UP and CN move most Bakken oil.
in general, Minnesotas rules are already more stringent than Wisconsins, and they could become even stricter under proposals being debated by the state Legislature.
They won't find a lot of trees to hug. But they have plenty of other ways to make fools of themselves.
Maybe they can get up there while it's still well below freezing and run around naked to protest global warming...
And they are ...
Union Pacific and Canadian National railroads.
Buffy owns Burlington Northern Santa Fe
(I’m just giving out names, I don’t know who is doing the hauling)
What % of this crude oil is being produced from Federal land?
The Williston Basin is only about six-and-a-half percent federal lands in the Bakken assessment, Pollastro pointed out, but there are a lot of tribal lands.
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The number of drilling applications submitted to federal land managers in western North Dakota has grown so large that Bureau of Land Management officials in other states have been asked to shoulder some of the load.
BLM employees in Great Falls are reviewing permits, verifying royalty amounts and working on mineral estate agreements to help their North Dakota colleagues dealing with the Bakken oil boom.
The Dickinson BLM office is projected to review more than 800 applications this year.
Continental Resources is constructing a 14-well drilling pad along the Missouri River near Williston, N.D. The company has planted 500 trees surrounding the property.
And who owns most of UP? Why I believe it is Warren Buffett so it is a blatant payoff.
Those of us actually in North Dakota know what the waits are for oil unit train crossings along the BNSF mainline.
(Reuters) - Union Pacific Corp (UNP.N), the largest publicly held U.S. railroad, said it it expects to quadruple the amount of oil it carries this year from the Bakken shale formation in North Dakota to U.S. Gulf Coast refineries.
Or are the quadrupling from 10 barrels to 40 a year. Yeah sarcastic but percentage changes are meaningless without a base.
just not under the name Union Pacific
Union Pacific is a completely different company.
It looks like you may have grabbed that statement from an article a few years ago.
Did it come from something more recent?
That was in 2011, it has expanded over the last year.
How about this?
“...BNSF Railway ships the bulk of oil out of the Williston Basin, which holds the Bakken formation. Over five years, the railroad saw oil shipments soar 7,000 percent, to 88.9 million barrels, the company reported in September. Union Pacific (UP) and Canadian National Railway are other major beneficiaries...”
There were plenty of local Omaha area articles, national articles, and reports on UP, BN and other rail shippers connected to UP over the last year.
Thanks for that info. Most everything I’ve seen talked about BNSF and a bit for CNR. I guess UP is getting some of the action as well. If you ever come across anything discussing volume, I would be interested in seeing it. Although with Shale oil formations, volumes are climbing so fast it is easy to be significantly out of date even at only a year old.
I have read a couple places that UP was well placed for all the sand requirements the hydraulic fracturing uses. They are fairly specific in the technical requirements and most sand sources are not effective.
I am hoping the boom continues, as we (siblings and I) still own the mineral rights to a section near Souris.
Just signed a new lease, still no oil though!
I finally found a bit of comparison, for what it is worth.
Berkshire Hathaway’s (BRKA) rail, BNSF, is probably enjoying the biggest boost; it controls 82% of capacity for oil in the booming Bakken field in North Dakota.
Warren Buffet said on one of the Business shows (CNBC) BN was building tank cars and rail was cheaper than a pipeline to move oil around.
Also using rail to move oil is more flexible. Pipelines don’t have the flexibility of moving the different grades of oil to the refineries that have the need for that specific grade of oil.
Plus the end products of the oil are mostly moved around by rail.
Buffet has stated he is not against the pipeline being built.
I think some on here are simplifying this situation and running without knowing more of the facts.
Will Buffet make money if the pipeline is built? Yes. If is is profitable to transport oil by rail now, and it is very profitable, then it will still be profitable to do it when the pipeline is in place.
No pipeline will be able to carry ALL of the oil EVERYWHERE it needs to go.