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Monday, October 24, 2011

World Energy Power Swings Back to the US -- The (London) Telegraph

I buried this story in an earlier posting; on second thought, it needs a post of its own. 

This London-based newspaper mentions the Bakken near the top:
Less known is that the technology of hydraulic fracturing - breaking rocks with jets of water - will also bring a quantum leap in shale oil supply, mostly from the Bakken fields in North Dakota, Eagle Ford in Texas, and other reserves across the Mid-West.

"The US was the single largest contributor to global oil supply growth last year, with a net 395,000 barrels per day (b/d)," said Francisco Blanch from Bank of America, comparing the Dakota fields to a new North Sea.
Total US shale output is "set to expand dramatically" as fresh sources come on stream, possibly reaching 5.5m b/d by mid-decade. This is a tenfold rise since 2009.
And I remember folks saying the Bakken was hyped which was one of the reasons I started this blog. 
Total US shale output is "set to expand dramatically" as fresh sources come on stream, possibly reaching 5.5m b/d by mid-decade. This is a tenfold rise since 2009.
To put that into perspective, the US currently produces 5.5 million bopd, and imports 9 million bopd.

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