Friday, June 24, 2011

Unconventional Oil: 1 Million Bbls Per Day Within Five Years -- Bakken, Niobrara, and Eagle Ford

Link here.
Unconventional oil production from the Bakken, Eagle Ford, and Niobrara plays is expected to approach 900,000 b/d in 2015 and exceed 1.3 million b/d by 2020, a consultant forecast.
Purvin & Gertz Inc. estimates current oil production from the Bakken, Eagle Ford, and Nobrara plays at 350,000-400,000 b/d.
The Bakken formation is in North Dakota and Montana, the Eagle Ford is in South Texas, and the Niobrara is in Colorado and Wyoming.
Geoff Houlton, a vice-president with Purvin & Gertz in Houston, told OGJ that shale oil production likely will help offset US oil import volumes in coming years.
Increasing supplies of light, sweet crude from shale oil plays are expected to reduce oil imports of similar quality crude into the Gulf Coast by greater than 500,000 b/d by 2016, he said.
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2 comments:

  1. AnonymousJune 24, 2011 at 6:21 PM

    Way too low an estimate. Not even close.

    anon 1

    ReplyDelete
  2. Bruce OksolJune 24, 2011 at 6:44 PM

    I was thinking the same thing. The Bakken alone should be approaching that within five years.

    ReplyDelete

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