Thursday, July 20, 2017

Update On Paving Project West Of Boomtown -- July 19, 2017

A little bit of local politics in the Bakken. Data points:
  • Madison Ridge development project
  • paving project
  • $2.3 million project
  • low bidder by $67,000: Knife River
  • Knife River says cannot finish project this year due to too much work
  • contract awarded to Northern Improvement; says they can finish the job this year
EIA Forecasts Record Production In 2018

From EIA:
U.S. crude oil production forecast to average 9.9 million barrels per day in 2018.
EIA forecasts that total U.S. crude oil production will average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016.
In 2018, crude oil production is expected to reach an average of 9.9 million b/d, which would surpass the previous record of 9.6 million b/d set in 1970. Most of the growth in U.S. crude oil production from June 2017 through the end of next year is expected to come from tight rock formations within the Permian region in Texas and from the Federal Offshore Gulf of Mexico (GOM).

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