Reports of record-breaking oil wells coming online in the prolific Bakken formation may not eliminate the sting of $4 gas. But at least there’s some satisfaction knowing the domestic oil industry is working to quench the nation’s huge thirst for energy.I remain inappropriately exuberant about the Bakken.
And unless oil prices suddenly plummet — something industry experts don’t expect anytime soon — drilling in Eastern Montana and western North Dakota is expected to continue at a brisk pace.
Brigham Exploration of Austin, Texas, has announced that a recently completed North Dakota well, known as Sorenson 29-32 #2H, produced a record 5,330 barrels of oil equivalent (a mixture of natural gas and oil) during a 24-hour test.
In Montana, Brigham Energy’s Johnson 30-19#1H well 12 miles northest of Fairview in Richland County produced 2,962 barrels during its 24-hour test, also a record.
Sunday, May 15, 2011
Another Bullish Story About The Bakken
Link here. From the BillingsGazette.com/Business.
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