Wednesday, August 24, 2011

CNBC Video From The Bakken -- CNBC SPECIAL -- North Dakota, USA

Update

I will use this post to update and add new CNBC video links regarding the Bakken. Here's one with Harold Hamm, CLR/CEO, and the "face of the Bakken," http://www.cnbc.com/id/44671299.

Original Post
Because of the anticipated interest in the Bakken after today's extensive coverage coming from North Dakota, I will post all CNBC-related information here, as well as include some links that first-time visitors might be interested in.

CNBC video here.

Another CNBC video clip here.

And another here

Article: Unemployed go to North Dakota.

Net Bakken acreage by producer.

Mike Filloon's four-part series on the Bakken: Part 1, Part 2, Part 3, and Part 4.

Apparently Jim Cramer flew into the Killdeer site by helicopter.

Seeking Alpha: Jim Cramer and the Bakken; several interviews; this one with Harold Hamm, CLR/CEO:
CEO Harold Hamm discussed Continental's (CLR) role in the Bakken and the extent and impact of the find. The fact that there was ample oil in the region was well-known, but it took a special kind of horizontal drilling to access the resources; "We broke the code," Hamm said. He verified estimates that there are 24 billion barrels of oil potentially in the Bakken, and 85% of the drilling still needs to be done. The company is working on infrastructure to transport the oil, and until the pipeline system has been completed, rail has been the method of choice. Hamm is not worried about fluctuations in oil prices, because the company hedges $2 billion a year worth of oil. "We have so much drilling to do here," Hamm said.
Mike Filloon discussing Jim Cramer and the Bakken trip:
Jim Cramer of "Mad Money" has done a very good job of helping the average investor take control of their investments. I do not generally watch his show, but yesterday he was in Killdeer, North Dakota. It is likely the population is larger than its last census of 751 people, as the oil companies are moving workers in from all over the United States to work the Bakken shale. If you don't know where it is, you are not alone. The top U.S. oil companies know where it is at, and that's what matters.
Mr. Harold Hamm, the CEO of Continental (CLR) had several things to say about the progression of the Williston Basin. He stated estimated ultimate recovery (EUR) of 600 MBoe is expected from each Bakken well. This is important as it was a recent upgrade from the previous estimate of 518 MBoe. Mr. Hamm also stated that Eco-Pads will be used by almost all Bakken producers going forward. In a nutshell, it allows for more than one well to be drilled from one location. This significantly decreases down time, as the rig does not have to be moved from location to location. Mr. Hamm also stated that "only 15% of the Williston Basin has been drilled" and claims "24 billion barrels can be recovered in the play."
How busy was the Bakken when Jim Cramer visited?

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