The magnitude of North Dakota's oil revolution is hard for outsiders to grasp. Superlatives fail to convey the speed and scale of the transformation and its impact on the economy of the state.
The fracking boom is upending the traditional petroleum geography of the United States. On current trends, North Dakota will overtake California as the third-largest oil-producer in the United States by the end of Q1 2012. Output is likely to exceed production from Alaska by the end of 2012 or early 2013. Only Texas will be producing more crude.
Yes, the Bakken is much more than just the local oil production. It was (and is) the tight oil/shale laboratory. It has made many "salt-of-the-earth" farmers millionaires (well-deserved). It has made new oil companies and and reinvigorated older companies: BEXP, Oasis, CLR. Quite incredible.
I may have posted this before; I forget. While in Williston earlier this autumn I ran into a 30-year-old male who came to Williston three years ago to do a bit of roughnecking. He planned to stay in the Bakken for one year or so.
He ended up staying and has his own company with 80 employees and could double the size if he wanted.
A lot of folks have done well in the Bakken laboratory.
The pioneers who preceeded us succeeded in their own labratory, against the elements and isolation with patience and hard work. Working through last winter I often wondered if I would have been tough enough to survive the conditions that the homesteaders suffered through. It is fitting that the new "pioneers" are succeeding with the same independant, can-do spirit.
I agree completely. You have no idea how much I respect the roughnecks, the truckers, the frac teams, the hotshot folks, the geologists, and everyone else helping to put in wells in the dead of winter at 5:00 p.m. (when it's as dark as midnight) and at midnight when it's as dark as it was at 5:00 p.m, but even lonelier and quieter.
"We compare the scope of this play to the Bakken and believe it will be transformational for the Mid-Continent region of the United States."
ReplyDeletehttp://phx.corporate-ir.net/phoenix.zhtml?c=196066&p=irol-newsArticle&ID=1642446
(A compliment to the Bakken.)
anon 1
Yes, the Bakken is much more than just the local oil production. It was (and is) the tight oil/shale laboratory. It has made many "salt-of-the-earth" farmers millionaires (well-deserved). It has made new oil companies and and reinvigorated older companies: BEXP, Oasis, CLR. Quite incredible.
ReplyDeleteI have had 2 vehicles repossesed in the past 6 years now I own a very profitable casing and laydown company! Love Love Love the state of the state!
ReplyDeleteCongrats. I hope it continues to go well for you.
ReplyDeleteI may have posted this before; I forget. While in Williston earlier this autumn I ran into a 30-year-old male who came to Williston three years ago to do a bit of roughnecking. He planned to stay in the Bakken for one year or so.
He ended up staying and has his own company with 80 employees and could double the size if he wanted.
A lot of folks have done well in the Bakken laboratory.
The pioneers who preceeded us succeeded in their own labratory, against the elements and isolation with patience and hard work. Working through last winter I often wondered if I would have been tough enough to survive the conditions that the homesteaders suffered through. It is fitting that the new "pioneers" are succeeding with the same independant, can-do spirit.
ReplyDeleteI agree completely. You have no idea how much I respect the roughnecks, the truckers, the frac teams, the hotshot folks, the geologists, and everyone else helping to put in wells in the dead of winter at 5:00 p.m. (when it's as dark as midnight) and at midnight when it's as dark as it was at 5:00 p.m, but even lonelier and quieter.
ReplyDelete