Monday, May 14, 2012

Great Article From England on the Bakken Boom

Link here, thanks to a reader.

Also, there are sixteen (16) photos in the photo gallery at the (London) Guardian
Williston is now the fastest growing micro-city in America. Some projections suggest that the town, which a few years ago had a population of 10,000, could soon be home to 100,000.

Koeser can't quite envisage that. He has been mayor for 18 years, and can't see Williston growing beyond 50,000. But he acknowledges the area is in for tremendous change.
I can't see a Williston population of 100,000 either but if the new number, 900 billion bbls of original oil in place, is accurate, this changes everything. The previous "number" was in the neighborhood of 300 billion. At eight percent primary recovery rate (some companies are shooting for twelve percent), this translates to 72 billion bbls. The most "optimistic" estimate of primary recovery is currently 24 billion bbls. The USGS estimates around 4 billion bbls of recoverable oil.

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