Data points:
- Financial adviser providing the commentary: Raymond James
- Williston Basin to reach 1.2 million bbls/day in 2015
- Recoverable oil estimate: 11 billion bbls
- Their analysts predict the Bakken will provide ~15 percent of total domestic oil supply by 2015
- Analysts predict just under 1.2 million bbls oil per day (they estimate 5 percent in 2010)
- Production will be driven by a) rig count; b) improvements in drilling time and completion techniques
- Bakken will have implications in domestic oil supply in light of the "permitorium"
Hello Texas. Lower the Rate and N.D. could be #1. good times.
ReplyDeleteRight now the three choke points or hindering factors: a) infrastructure, big pipelines taking oil out of North Dakota; b) infrastructure, small pipelines taking oil from pads (75% of ND oil is still trucked from well head; c) availability of fracking crews.
ReplyDeleteAnother minor factor -- weather -- ties in with (b) -- blizzards shut down trucks, though of the three, weather is the least of the problems.
Until infrastructure in place, many in ND feel the Bakken is being developed fast enough.
I still think ND leadership should take road trip to Tulsa to see how that area handled growth many years ago; I think Williston has that potential without the long-term population growth.