And The News For The Bakken Just Keeps Getting Better

Unless the federal government regulates fracking across the board, the Bakken continues to look very, very good.

How good? Read the article Don sent from Forbes magazine.

The Bakken is not mentioned but these plays are:

• the Arctic: the Dutch can't help but notice that Shell has given up drilling this year; the company has spent $5 billion (with a "b") so far "scratching the surface of the Burger A well; permits not in place to develop Beaufort wells (the "permitorium" problem); paid $2 billion (with a "b") back in 2008 for the rights to this debacle;
• the Gulf of Mexico: "BP's terminal experience" -- 'nuf said
• Canadian oil sands: "very tetchy local legislators"
• off-shore Brazil: MDW wrote this play off long ago; country won't risk white sandy beaches;
• Russia: "where the biggest unconventional challenge rests"; operators simply don't trust Russia -- Forbes
• China: the state oil companies will resist foreign intrusion (except for the technology)

There you have it. Not a pretty sight. Nor will it be a pretty sight if voters give the President a mandate to regulate fracking.

That $5 billion + $2 billion spent by the Dutch so far in the Arctic and nothing to show for it puts the QEP/Helis Bakken deal in perspective.