Monday, May 21, 2012

How Important Was The Bakken?

My world view is that the Bakken boom led the current energy boom in the United States. Others will have their own views, but mine won't change.

One of the reasons I started this blog was to offer another opinion to answer those who said the Bakken was over-hyped.

I can now quit blogging. I have reached the milestone I set for myself: to keep blogging until I saw this headline, or something similar:
"US Unconventional Liquids Production Could Mean Zero Net Oil Import"
Link here.
Production from unconventional liquids plays could result in the US becoming independent from oil imports before 2020, an analyst told attendees at an International Association of Drilling Contractors conference on onshore drilling.

Marshall Adkins, managing director of energy research for Raymond James & Associates, told conference participants, “You guys have gotten too good at getting oil out of the ground, and we are going to see some issues.”

US crude oil production is rising in the face of declining oil demand, Adkins said. He credited horizontal drilling and multistage hydraulic fracturing in North Dakota’s Bakken formation and the South Texas Eagle Ford shale with reversing a nearly 40-year-long decline in domestic oil supply.
Global oil prices look bearish. It looks like US could be energy independent in 6 - 7 years. 

Only two basins were mentioned, and of the two, the Bakken was first.

Anyway, I could quit blogging, but I won't. There are a few other Bakken milestones I want to see first before I quit blogging.

5 comments:

  1. Please don't quit. I love your blog :)

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    1. Thank you. No, I won't quit.

      I might quit for the evening. I posted 15 stand-alone posts today if I counted correctly, and updated several older posts. I have a few more in draft stage but too tired to finish them right now, maybe tomorrow.

      Regardless, I can't wait to see tomorrow's daily activity report.

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    2. I agree, please don't quit! I look forward to reading your blog daily. Not to mention turning others on to the blog. It's informative and educational. Kind of like a Costco of the Bakken.

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  2. Yeah right Bruce Oksol stop blogging about the Bakken. Never happen in this life and you will most likely blog about the Bakken and the Williston Basin in the next.

    Admit it Bruce like the rest of us you are a Bakkenolic. Of course you are more addicted because you were raised in Williston the heart of the Bakken.

    Keep up the awesome job you Bakkenolic!

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    Replies
    1. I can afford to put up so many posts because I'm not traveling. I don't look forward to traveling; I won't be able to blog as much.

      You have no idea how much I look forward to "opening" the daily activity report each evening.

      Off the top of my head, I think this is what I'm looking forward to most this year: a) the activity northeast of Watford City, the northeast corner of McKenzie County which seems to be the bull's eye of the Bakken; b) the activity around Belfield where Whiting might have another "Sanish"; and, c) the natural gas/oil gathering systems -- I guess what everyone is talking about now, the midstream activity.

      It seems folks are starting to get comfortable with growth: Dickinson might get a large crew camp; the Fryburg announcement; the story today that Target Logistics is growing in Williams County; and then the recent housing summit in Williston. Something tells me new estimates of the original oil in place (OOIP) and recovery rates might be driving this. Or not. Maybe I'm just irrationally exuberant this evening.

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