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Keyword: bakken

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  • North Dakota economy booms,population soars(Wanna see what tapping our own oil reserves will do 4U?)

    03/17/2011 9:21:27 AM PDT · by bestintxas · 7 replies
    lucianne ^ | 3/17/11 | Dennis Cauchon
    North Dakota, the state with the nation's lowest unemployment rate, capped a decade of economic prosperity with dramatic population growth in its biggest cities. North Dakota's low unemployment rate and steady housing market helped towns like Fargo, pictured, grow dramatically. Fargo added nearly 15,000 residents to hit a record population of 105,549, the Census Bureau reported Wednesday. Its fast-growing neighbor of West Fargo added an additional 11,000 residents to reach a population of 25,830. Fargo has seen steady growth over the decade — the housing boom missed it — to reach a size that surprised city officials. "Above 100,000? Wow....
  • Why North Dakota Is Booming

    03/15/2011 8:20:03 AM PDT · by Tom Rounder · 47 replies
    New Geography ^ | 3-14-11 | Joel Kotkin
    Living on the harsh, wind-swept northern Great Plains, North Dakotans lean towards the practical in economic development. Finding themselves sitting on prodigious pools of oil—estimated by the state's Department of Mineral Resources at least 4.3 billion barrels—they are out drilling like mad. And the state is booming. Unemployment is 3.8%, and according to a Gallup survey last month, North Dakota has the best job market in the country. Its economy "sticks out like a diamond in a bowl of cherry pits," says Ron Wirtz, editor of the Minneapolis Fed's newspaper, fedgazette. The state's population, slightly more than 672,000, is up...
  • Billions of barrels of untapped U.S. Oil

    03/09/2011 12:57:59 PM PST · by Brad from Tennessee · 67 replies
    CNNMoney.Com ^ | March 9, 211 | By Steve Hargreaves
    HOUSTON (CNNMoney) -- In the grasslands of western North Dakota, one of the country's richest oil men is using a controversial gas drilling technology to develop what could be the biggest domestic oil discovery in the last 40 years. The oil lies underground in a shale rock formation stretching across western North Dakota, northeast Montana, and into Canada's Saskatchewan Provence known as the Bakken. EIA thinks it will produce 350,000 barrels a day by 2035, but most analysts think that estimate is far too low. . .
  • A Shale Of A Difference

    02/17/2011 5:26:09 PM PST · by Kaslin · 16 replies
    IBD Editorials ^ | February 17, 2011 | Staff
    Energy: The brightest hope for America's energy independence has been shut down by an Interior Department that says it wants to review the rules for leases. It really wants to kill off oil altogether. The game is this: Say that you want to find domestic oil and gas in a "smart" way, so you have to study things for a while. Then let enviros tie you up in court to block what you really don't want to do anyway, increase America's supply of domestic energy, keeping jobs and money here. On Tuesday, Interior Secretary Ken Salazar announced that the Obama...
  • Continental: Bakken's giant scope underappreciated

    02/17/2011 9:26:20 AM PST · by ckilmer · 6 replies
    Oil & Gas Journal ^ | By OGJ editors
    Print Email Save Share Continental: Bakken's giant scope underappreciated Feb 16, 2011 By OGJ editors HOUSTON, Feb. 16 -- The Bakken play in the Williston basin could become the world’s largest discovery in the last 30-40 years, a senior manager at Continental Resources Inc. said Feb. 16. Ultimate recovery from the overall play is now estimated at 24 billion bbl of oil, compared with US reserves of nearly 20 billion bbl, he told the NAPE Expo in Houston. The 24 billion bbl figure is five times the US Geological Survey’s 2008 estimate and compares with the 151 million bbl the...
  • Continental: Bakken's giant scope underappreciated {Oil Shale}

    02/17/2011 8:55:05 AM PST · by thackney · 35 replies
    Oil & Gas Journal ^ | Feb 16, 2011 | OGJ editors
    The Bakken play in the Williston basin could become the world’s largest discovery in the last 30-40 years, a senior manager at Continental Resources Inc. said Feb. 16. Ultimate recovery from the overall play is now estimated at 24 billion bbl of oil, compared with US reserves of nearly 20 billion bbl, he told the NAPE Expo in Houston. The 24 billion bbl figure is five times the US Geological Survey’s 2008 estimate and compares with the 151 million bbl the survey put forth as recently as the mid-1990s, said Jack Stark, Continental senior vice-president, exploration (OGJ, Apr. 21, 2008,...
  • New Drilling Method Opens Vast U.S. Oil Fields

    02/16/2011 1:14:34 PM PST · by george76 · 43 replies
    ap ^ | February 10, 2011
    A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude. Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day -- more than the entire Gulf of Mexico produces now. ... In the Bakken formation, production is rising so fast there is no space in pipelines to bring the oil to...
  • Concho Resources, JinkoSolar Lead IBD 50’s 4 Energy Stocks

    02/13/2011 8:45:51 AM PST · by Slyscribe · 1 replies
    IBD's Capital Hill ^ | 2/12/2011 | Ed Carson
    Oil prices have come off recent highs, but remain above $85 a barrel. That provides plenty of margin for domestic oil plays Concho Resources (CXO) and Northern Oil & Gas (NOG). Chinese solar products maker JinkoSolar(JKS) likely delivered another of triple-digit profit and sales growth. El Paso Pipeline Partners (EPB) has enjoyed solid growth amid relatively low natural gas prices. All four are part of the IBD 50, the high-powered list of superior stocks based on fundamental and technical factors.
  • New drilling method opens vast oil fields in US

    02/10/2011 11:22:08 AM PST · by Weird Tolkienish Figure · 60 replies
    A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
  • New permit record 1,676 oil, gas drilling permits issued in 2010

    01/05/2011 5:03:33 AM PST · by upsdriver · 22 replies ^ | January 5, 2011 | By ELOISE OGDEN, Regional Editor
    BISMARCK - North Dakota's oil patch is setting more records with 1,676 new permits issued for oil and/or gas wells drilling in calendar year 2010, according to Bruce Hicks, assistant director of the N.D. Oil and Gas Division in Bismarck. That is more than 1,000 permits more than were issued in calendar year 2009 when 623 permits were issued. In 2008, the division issued 1,043 permits. The previous record was set in calendar year 1981 when 1,098 permits were issued, Hicks said Tuesday. "It appears 2011 will set another permitting record," Hicks said. "It is anticipated that between 160 to...
  • APNewsBreak: ND oil patch may double production

    01/02/2011 5:10:05 PM PST · by Titus-Maximus · 84 replies
    Yahoo Finance ^ | 1/2/2011 | James Macpherson
    APNewsBreak: ND oil patch may double production APNewsBreak: Officials say North Dakota's oil patch poised to double production ap * Share * retweet * Email * Print James Macpherson, Associated Press, On Sunday January 2, 2011, 3:30 pm EST BISMARCK, N.D. (AP) -- Government and industry officials believe North Dakota's oil patch contains more than twice the amount of oil previously estimated and that the state's already record crude production will double within the decade. If the forecast is correct, North Dakota could leapfrog in a few years from the fourth-biggest oil producing state to No. 2, trailing only Texas....
  • Drill, North Dakota, Drill

    10/11/2010 5:16:10 PM PDT · by Kaslin · 23 replies
    IBD Editorials ^ | October 11, 2010 | Investors Business Daily staff
    Recovery: While states like Nevada wallow in recession, tiny North Dakota becomes the first state rated as expanding by a leading service. Could it be the state's burgeoning energy industry? The recession — induced by Democrats and activists meddling in the housing market through the Community Reinvestment Act and then whistling past the bad-loan graveyard of Fannie Mae and Freddie Mac — officially ended in June 2009, according to the National Bureau of Economic Research. For much of the country, mired in a jobless recovery with job losses so great and prospects so bleak that it will take decades just...
  • Montana Gets Second Chance at Bakken Oil

    09/22/2010 9:48:21 AM PDT · by thackney · 11 replies
    Big Sky Business Journal ^ | Sept 22, 2010 | Evelyn Pyburn
    Even though it hovers at the western edge of the Bakken, Baker, Montana is being focused upon as “the hub of the Williston Basin.” Baker is where oil companies are headquartering and where pipelines are intersecting. What’s happening in the Bakken and the resurgence of eastern Montana oil fields dominated much of the discussion at the recent Montana Petroleum Association (MPA) Conference in Billings. “The whole industry has sparked up,” said Dave Galt, MPA Executive Director, because of ever improving technology that allows more production from wells once considered depleted. The industry is once again, “interested in investing in Montana,”...
  • Enbridge to expand Bakken Pipeline

    08/26/2010 10:12:20 AM PDT · by thackney · 6 replies
    Calgary Herald ^ | August 24, 2010 | Dina O'Meara
    Enbridge plans to expand its Montana to Saskatchewan light oil pipeline to accommodate growing production from prolific Bakken and Three Forks formations, the Calgary-based company said Tuesday. The $543 million project, forwarded by affiliates Enbridge Energy Partners on the U.S. side and Enbridge Income Trust in Canada, will boost volume on the line by 145,000 barrels per day to 325,000 bpd. Burgeoning production from the light sweet crude play prompted the latest expansion of the Bakken pipeline, which runs from Montana, through North Dakota, into Saskatchewan to Cormer, Manitoba. "We are confident that this series of expansions will relieve much...
  • North Dakota No. 3 for drilling

    07/31/2010 9:49:35 AM PDT · by thackney · 34 replies
    The Calgary Herald ^ | July 31, 2010 | Herald News Services
    North Dakota overtook Oklahoma this week as the third most active state in drilling for oil and natural gas, according to data published by Baker Hughes Inc. The number of North Dakota rigs exploring for and producing oil and gas jumped by two to 128, Baker Hughes said. Oklahoma fell by nine to 123, the biggest drop among the states. Oklahoma is home to the oil delivery hub for the U.S. Midcontinent. Drilling in the Bakken Shale in North Dakota's Williston Basin helped make the state the fourth-largest oil producer as of March.
  • The Silence of Crickets Over the Bakken Formation

    05/02/2010 9:58:16 AM PDT · by Whenifhow · 56 replies · 1,297+ views ^ | 5-2-2010 | Terresa Monroe-Hamilton
    Very little has been written about the Bakken Formation and the rich oil reservoir just beneath it in western North Dakota. This recently discovered oil depository potentially holds 1.9 billion barrels in the Three Forks-Sanish formation. For years, the oil industry have known about this oil field, but it was too costly to explore and the technology was not yet available. That is all changing now. The question is whether the EPA, environmentalists and our oppressive government will allow the exploration and harvesting of this tremendous resource that would greatly aid the US in their need for cheap, accessible energy...
  • US Oil [stunner from an e-mail]

    04/25/2010 6:13:37 AM PDT · by Clint Williams · 31 replies · 4,078+ views
    e-mail ^ | 4/10/10 | unknown
    Subject: US oil Wake up America - - - makes you wonder what we are waiting for!!!!   More oil kings having solid white gold Mercedes built with American money????        OIL Here ' s an interesting read, important and verifiable information : About 6 months ago, the writer was watching a news program on oil andone of the Forbes Bros. was the guest. The host said to Forbes, "I am going toask you a direct question and I would like a direct answer; how much oildoes the U.S. have in the ground?" Forbes did not miss a beat, he said,...
  • Green Washington Wants Less-efficient Fuel - You can’t make this stuff up. (EPA out of control)

    04/05/2010 7:24:10 AM PDT · by opentalk · 31 replies · 1,050+ views
    NRO ^ | April 05, 2010 | Henry Payne]
    On April 1, the Obama administration’s EPA issued final rules forcing automakers to increase their vehicles’ fuel economy by 40 percent in five years. The next day, the very same EPA favorably reviewed an ethanol fuel mandate that would force autos to get up to 5 percent worse fuel economy. You can’t make this stuff up. Follow us here. By the same date — 2015 — that the new 35.5 mpg EPA mandate is due to go into effect, oil companies are also mandated by Congress to double the amount of corn ethanol use (from 2007 levels) to 15 billion...
  • Rig count reflects oil boom in North Dakota

    03/15/2010 10:27:55 AM PDT · by thackney · 10 replies · 633+ views
    Bismark Tribune ^ | March 11, 2010 | Brian Gehring
    North Dakota topped the century mark in the number of active oil rigs this week for the first time since February 1982. There were 102 active rigs as of Wednesday. The state is still below the all-time high of 146 rigs that came in October 1981, said Ron Ness, president of the North Dakota Petroleum Council. Ness said the numbers are a positive for the future of the North Dakota oil industry. Ness said improvements in technology have allowed rigs to be more productive and efficient with the advent of horizontal drilling. “That’s the real story,” he said. Ness said...
  • Montana Bakken Moves Forward

    03/15/2010 10:24:57 AM PDT · by thackney · 10 replies · 726+ views
    Investopedia ^ | 3/15/10 | Eric Fox
    Although most of the oil and gas exploration and development activity in the Bakken Shale so far has been on the North Dakota side, the next few years may see a pick up in activity on the Montana side, where several exploration and production companies are planning test wells and assembling acreage. Looking North Rosetta Resources (Nasdaq:ROSE) has 239,000 net acres under lease in the Alberta Basin in the Cut Bank field. The company has drilled three test wells here to date and has been encouraged by the results. Rosetta Resources has found pay at several different formations besides the...