Nearing a New Record, But Not Quite There Yet -- Bakken, North Dakota, USA

177 active rigs today.

USGS To Begin New Assessment of Bakken/Three Forks Starting October, 2011 -- Two-Year Study --

Link here (regional links break early and break often).

Interior Secretary Ken Salazar says there's "significant new geological information" and new oil drilling technologies since the government did its last study in 2008.

That assessment estimated up to 4.3 billion barrels of crude could be recovered using technology at that time. The agency called it the largest continuous oil accumulation it has ever assessed.

This will be interesting. This is where we stand now with estimates:

• USGS: 4.3 billion barrels
• Whiting: 12 billion barrels
• CLR: 24 billion barrels

The 2008 USGS survey of the Bakken Formation in North Dakota and Montana can be found here (a PDF document). When you get to the link, click on the PDF icon on the left. Note: the USGS says this survey was only of the Bakken Formation: the upper, middle and lower members.

Keystone Pipeline Re-Opened After Recent After 500-Barrel Spill

Link here.

Spill occurred May 7, 2011.

The oil release happened at the Ludden Pump Station, where 30 personnel have been on-location to contain the escaped oil. Three hundred of the 500 spilled barrels of oil have been recovered, and three hundred cubic yards of contaminated soil will be removed and replaced with clean soil and gravel.

The oil spill was caused by a damaged three-quarter-inch fitting, and TransCanada has re-inspected all similar fittings at all of its pump stations in the United States and Canada, installing stronger fittings where appropriate.

Energy Company Offering To Sell 10,000 Net Acres In SW North Dakota -- Sale To Conclude Over Next 20 Days

PDF file here.

Hallador Energy selling 90% of its working interest in 10,000 net mineral acres in southwest North Dakota, specifically the northeast corner of Slope County (and a bit in Hettinger County). The company will retain 10% of the acreage.

The "data room" is currently open and will remain open through June 3, 2011. Sales are expected to conclude June 8, 2011.

Oasis Earnings Transcript -- Bakken, North Dakota, USA

Oasis 1Q11 earnings transcript.

Seven rigs.

Two dedicated frac crews now; hoping to get third dedicated frac crew this summer (but questionable if that will happen).  I assume some of the bigger operators have three dedicated frac crews, but this the first time I have read of any North Dakota Bakken company to plan for three such crews.