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Wow, North Dakota, Thatís a Lot of Oil
The Exchange - Yahoo Finance ^ | March 19, 2013 | Tim Sprinkle

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 ...


TOPICS: Business/Economy; Government; News/Current Events; US: North Dakota
KEYWORDS: bakken; energy; northdakota; oil; usoilreserves

1 posted on 03/20/2013 7:04:57 AM PDT by jwsea55
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To: jwsea55
About 75% of North Dakota's crude oil is transported out of the state via truck and railroad, limiting the amount that the state can extract at any given time due to weather and capacity constraints.

Obama's payoff to Warren Buffett.

2 posted on 03/20/2013 7:11:37 AM PDT by OrioleFan (Republicans believe every day is July 4th, Democrats believe every day is April 15th.)
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To: jwsea55

Time to get some tree-huggers up there to stop the rape of mother Gaia.


3 posted on 03/20/2013 7:12:23 AM PDT by Rennes Templar (Business owners work harder! You have to support millions.)
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To: jwsea55

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.


4 posted on 03/20/2013 7:23:24 AM PDT by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: jwsea55
Image and video hosting by TinyPic">

North Dakota Field Production of Crude Oil
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPND2&f=M

5 posted on 03/20/2013 7:24:07 AM PDT by thackney (life is fragile, handle with prayer)
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To: OrioleFan

Nonsense. UP and CN move most Bakken oil.


6 posted on 03/20/2013 7:24:54 AM PDT by bigbob
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To: jwsea55
Keep an eye on this. Under the radar the Greeneys are going after the sand needed for fracking:

in general, Minnesota’s rules are already more stringent than Wisconsin’s, and they could become even stricter under proposals being debated by the state Legislature.

http://www.sctimes.com/article/20130320/NEWS02/303200015/Neighbors-differ-silica-mining-Minnesota-sand-rules-stricter-than-Wisconsin

7 posted on 03/20/2013 7:29:29 AM PDT by DManA
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To: bigbob
Union Pacific doesn't have track in the Bakken area.

http://www.up.com/aboutup/reference/maps/system_map/index.htm

8 posted on 03/20/2013 7:30:52 AM PDT by thackney (life is fragile, handle with prayer)
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To: Rennes Templar
"Time to get some tree-huggers up there to stop the rape of mother Gaia."

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...


9 posted on 03/20/2013 7:31:34 AM PDT by Baynative (Lord, keep your arm around my shoulder and your hand over my mouth.)
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To: bigbob
UP and CN

And they are ...

10 posted on 03/20/2013 7:32:57 AM PDT by InterceptPoint
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To: InterceptPoint

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)


11 posted on 03/20/2013 7:33:51 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: thackney

What % of this crude oil is being produced from Federal land?


12 posted on 03/20/2013 7:34:03 AM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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To: bigbob

13 posted on 03/20/2013 7:35:33 AM PDT by thackney (life is fragile, handle with prayer)
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To: jwsea55

14 posted on 03/20/2013 7:39:12 AM PDT by PJ-Comix (Beware the Rip in the Space/Time Continuum)
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To: Graewoulf

Not much.

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.

http://www.aapg.org/explorer/2008/06jun/potential.cfm

- - - - - - - - - -

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.

http://billingsgazette.com/news/state-and-regional/montana/other-states-aid-with-bakken-drilling-applications/article_a4a311d5-ca29-5eb9-a2bf-479330b6b5e2.html#ixzz2O5hp6GdY
March 18, 2013


15 posted on 03/20/2013 7:40:24 AM PDT by thackney (life is fragile, handle with prayer)
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To: Baynative
There are some tree, planted by the oil companies.

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.

http://billingsgazette.com/news/local/trees-surround-drilling-pad-near-williston/image_fc1d55e3-67b9-5220-99c7-f7706482e3b0.html#ixzz2O5iRAdNH

16 posted on 03/20/2013 7:42:45 AM PDT by thackney (life is fragile, handle with prayer)
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To: bigbob
What do you do, just make this crap up as you go along?

Burlington Northern in North Dakota

17 posted on 03/20/2013 7:43:22 AM PDT by Michael.SF. (Obama lied, Stevens died.)
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To: bigbob

And who owns most of UP? Why I believe it is Warren Buffett so it is a blatant payoff.


18 posted on 03/20/2013 7:49:48 AM PDT by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: Michael.SF.

Those of us actually in North Dakota know what the waits are for oil unit train crossings along the BNSF mainline.


19 posted on 03/20/2013 7:51:29 AM PDT by Last Dakotan
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To: thackney
Old Warren does control Burlington Northern and other local rail routes throughout the area; just not under the name Union Pacific. A short clip from a recent article:

(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.

20 posted on 03/20/2013 7:55:52 AM PDT by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: RJS1950
So they carry it on another railroad's track?

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.

21 posted on 03/20/2013 8:03:56 AM PDT by thackney (life is fragile, handle with prayer)
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To: RJS1950

It looks like you may have grabbed that statement from an article a few years ago.

http://www.reuters.com/article/2011/07/22/usrail-oilshipments-idUSN1E76L18M20110722

Did it come from something more recent?


22 posted on 03/20/2013 8:08:17 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

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...”

http://news.nationalgeographic.com/news/energy/2012/11/121130-north-dakota-oil-trains/

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.


23 posted on 03/20/2013 8:16:27 AM PDT by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: RJS1950

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.


24 posted on 03/20/2013 8:23:09 AM PDT by thackney (life is fragile, handle with prayer)
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To: Last Dakotan
I am sure you do! Lot of oil and slow moving trains.

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!

25 posted on 03/20/2013 8:28:06 AM PDT by Michael.SF. (Obama lied, Stevens died.)
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To: RJS1950

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.

http://online.barrons.com/article/SB50001424052748704836204578340393403522294.html?mod=BOL_twm_fs#articleTabs_article%3D1
MARCH 9, 2013


26 posted on 03/20/2013 8:28:24 AM PDT by thackney (life is fragile, handle with prayer)
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To: bigbob

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.


27 posted on 03/20/2013 8:49:33 AM PDT by OrioleFan (Republicans believe every day is July 4th, Democrats believe every day is April 15th.)
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To: OrioleFan

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.


28 posted on 03/20/2013 1:10:38 PM PDT by BookaT
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