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Friday, February 24, 2012

Week 8: February 19, 2012 -- February 25, 2012

New estimate of original oil in place (OOIP) revised by CLR up to 900 billion bbls; well above 500 billion bbls; dwarfs Saudi's largest oil field with 170 billion bbls; could be top Bakken story of the year

Bakken production could increase by another 547,000 bbls between 2011 and 2016

CHK to stay in the Bakken; move closer to Dickinson; cozy up to WLL

Cracking the code on hyperbolic Bakken decline: DNR reports 60- and 90-day production better than 30-day production numbers

Potential proppant production in the Bakken

TransCanada said to be stockpiling pipe in North Dakota

UK oil imports exceed production -- first time since 1978

More Saudi oil could be diverted from Europe to India

Saudi not keeping up with demand despite pumping at highest level in 30 years -- Goldman Sachs

Saudi cuts production; doesn't tell anyone; estimates from an independent source

Oasis: crude-by-rail nameplate not being reached

India to surpass China as largest coal importer; China "blowing past" US in production

New bypass west of Williston will be paved by July, 2012 -- governor

Filloon's Bakken 4Q11 Update

Oasis trading at unadjusted basis of $11,000/acre; KOG at $20,000/acre

Corvettes being sold in Williston

Eight golden eagle deaths due to one windmill farm in California -- tipping point?

Wind farms in Wyoming on hold; "abandoned" projects not yet, but being talked about

6 comments:

  1. Take 900 Billion barrels in the ground times the recovery rate Leigh Price thought may be ultimately be possible and give our oil industry 170 years to fully develop the technology (first oil well drilled 163 years ago) and another 30 years to produce from the last well drilled you end up producing 450 Billion Barrels over the next 200 years.

    If my South Dakota math is correct that would be an average in excess of 6 million barrels a day for 200 years to produce all that oil. Wow, can that be right?

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  2. Bruce,

    Nice site! where can I get a map that shows the acre-spacing in Williams County? I have lease in the north at the Divide County line and would be interested in seeing where they are relative to existing spacing units.

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    1. Go to the NDIC web site:


      https://www.dmr.nd.gov/oilgas/


      At that site, on the sidebar on the left, click on "GIS Map Server."

      It will take a few moments to load.

      When you get to the map, explore it for awhile, zooming in and out to get the size of detail you want. Once you feel comfortable with it, go to the sidebar on the right, and open the folder called "Drilling/Spacing" by clicking on the yellow folder, and clicking on "Bakken." Then click on 1280- and 640-acre spacing and you will see the size of the spacing units in the Bakken.

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    2. Thanks, Bruce. You're a real asset to us newbe's out here!

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    3. If you run into problems with the GIS map server, let me know. I don't understand all of it, but I can get around pretty well. It's useful for a number of things.

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