That puts the following story into perspective. The Dickinson Press is reporting that pipeline companies continue to "lay big bets on a big oil future in the Bakken."Consider that since 1980, the world has produced just under 900 billion barrels of oil -- and its proved reserves actually went up by just over 1 trillion barrels in that time.Let's parse that last sentence. Since 1980 -- 35 years -- the world has produced less than 900 billion barrels of oil. During that time global reserves actually went up by 1 trillion bbls.
Does anyone remember the estimated crude oil reserves in the Bakken alone? Five hundred (500) billion bbls. A lot of companies are going to go bankrupt or otherwise disappear but the Bakken oil is not going to go anywhere, and operators are not going to forget how to frack. And with less than 60 active rigs and 1,000 wells drilled to depth but not completed, and production still at one million bopd, it's not difficult to see that if push comes to shove, North Dakota can easily get to two million bopd.
In the 1804 Industrial Park west of Williston, TransCanada bought a 30-acre parcel to stage material and pipe for its Upland Pipeline project, and Energy Transfer Partner bought a 50-acre parcel to stage material and pipe for its Dakota Access pipeline.
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A Note to the Granddaughters
The other day I mentioned how seriously Texans take their sports. Yesterday evening our oldest granddaughter participated in another cross-country meet. In her "heat," there must have been somewhere between 100 and 200 girls. It looked like there were about five schools competing. Overall, she took 19th in her heat, and appeared to have taken 2nd place in her school. In the immediate Grapevine area, it appears the girls' team from Colleyville that is the team to beat. It appeared that the entire Colleyville girls' team led the entire heat across the finish line.
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