Talk about a big news day. I believe this is about the fifth stand-alone posting I've done so far today. If this is the first one you happen to read, be sure to scroll down to see the others. When you get to Bull Butte field update, you will have reached the first posting of today.
According the WSJ today:
- Oil-drilling activity in the U.S. has accelerated to a pace not seen in a generation as energy companies, oilfield contractors and landowners rush to exploit newly profitable sources of crude.
- Data points:
- Number of oil rigs, highest since at least 1987
- 818 rigs today; nearly double last year's count; 10 x the number that were drilling in the late 1990s
- Not enough crude to alter global oil-supply picture, it could offset declining output in Alaska and Gulf of Mexico
I believe the word "Bakken" is mentioned only once in the article, but near the end:
Large, oil-focused companies such as Anadarko Petroleum Corp., Occidental Petroleum Corp., and ConocoPhillips are also ramping up their drilling programs from California to North Dakota to Texas.OXY is now in North Dakota, and, of course, COP is here through its BR subsidiary.
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