Wednesday, January 26, 2011

Analysts: Basin Should Reach 1.2 Million Bbls/Day in 2015 -- Bakken, North Dakota, USA

Link here.

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"