BEXP: Conference Presentation

This is the presentation made by BEXP at Enercom conference in Denver last week. The amount of information is incredible; I don't know where to begin. Maybe I'll have time Monday to sort through all this.

However, note that BEXP is suggesting takeaway capacity for oil in North Dakota could be as much as 800,000 barrels/day in 2014 (slide 37, appendix). [Current, reasoned, general expectations are that daily production, currently around 300,000 bopd will level off at 400,000 bopd. June production hit an all-time high of 315,278 bopd. In May, production averaged 298,000 bopd. The increase in June represents a 5.7 percent increase -- in just one month.]

Look at the thickness of the Upper Three Forks Sanish compared to the Middle Bakken, slide 39, appendix).

BEXP estimates as many as 555 wells over 13 years in proven areas with an average NPV of $9.4 million/well (almost $5 billion), slide 34. Regardless of the value of these wells, this is just one company in the Bakken estimating almost 600 wells and drilling for 13 years. This explains all the activity in Williston, suggesting companies plan to be there for a very long time.

A Story Out of the Mideast About the Bakken

This story is from an English website out of the Mideast. Following Enbridge's recent announcement to double capacity, one of their reporters filed this story.

Note: somehow I accidentally deleted this comment. This comment should have been published:

Anonymous has left a new comment on your post "A Story Out of the Mideast About the Bakken":

Bruce, you’re site is so complete, thorough and organized I stopped posting back in June of 2010. Somehow you missed a 08/30/10 blurb about the Bakken Shale oilfield from The National in Abu Dhabi entitled, “A new US oil rush could rock OPEC” that is really old old news, except for this “gem” at the end of the article.

“ The effects of that have rippled around the world, weighing not only on North American gas prices but also on international markets for the liquefied natural gas now shipped across oceans from states such as Qatar. OPEC producers would do well to remember that; the next threat to oil price stability may come not from market speculation or renewable energy but from a new North American oil rush.” tcarlisle@thenational.ae

For the full article see my 8/30/10 post on the IV HES BB at
http://www.investorvillage.com/smbd.asp?mb=4307&mn=253&pt=msg&mid=9458325

Good Luck and Good Investing. HLW3333 08/30/10

 I posted a reply in the comment section below. This whole thing has gotten very confusing. Sorry. I will try to do better in the future.