.... that single well from 2009, which produced 21 million cubic feet per day during its first month, after being “fracked” – a technique used to free shale gas – six times. In other shale gas reservoirs, companies use 18 fracks – and more – to cause even more gas to flow.Now if the folks in Washington would just recognize the new North American reality in energy, perhaps they could turn the economy around.
The overall estimates are early, and geologists cautioned against placing too much stock in numbers generated from relatively scant data. And though Apache said it believes wells in the Liard could be profitable at a well-head price of $2.57 (U.S.) per thousand cubic feet – not far from the current price of natural gas in the central U.S. – others said those predictions could prove optimistic. A single Liard well costs $35-million to drill and complete.
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 4-2012 | 2 | 10020 | 9705 | 963 | 19470 | 19470 | 0 |
| BAKKEN | 3-2012 | 31 | 9993 | 9745 | 1452 | 16431 | 16431 | 0 |
| BAKKEN | 2-2012 | 14 | 8871 | 9013 | 1879 | 13863 | 13854 | 0 |
| BAKKEN | 1-2012 | 30 | 8077 | 8371 | 1651 | 11987 | 11977 | 0 |
| BAKKEN | 12-2011 | 7 | 0 | 0 | 0 | 18015 | 17997 | 0 |
| BAKKEN | 11-2011 | 30 | 10114 | 10260 | 2070 | 15793 | 14238 | 1481 |
| BAKKEN | 10-2011 | 31 | 13223 | 13186 | 3299 | 21404 | 20283 | 1121 |
| BAKKEN | 9-2011 | 18 | 7617 | 8153 | 1647 | 11909 | 11671 | 238 |
| BAKKEN | 8-2011 | 17 | 5553 | 5578 | 1047 | 10318 | 7859 | 2459 |
| BAKKEN | 7-2011 | 27 | 7999 | 7690 | 1926 | 12922 | 12106 | 816 |
| BAKKEN | 6-2011 | 25 | 13226 | 13136 | 2601 | 22674 | 20757 | 1918 |
| BAKKEN | 5-2011 | 14 | 10887 | 10305 | 1926 | 16022 | 14374 | 1647 |
| BAKKEN | 4-2011 | 10 | 8475 | 8556 | 1546 | 10914 | 10233 | 680 |
| BAKKEN | 3-2011 | 13 | 4871 | 4961 | 704 | 4429 | 1025 | 3404 |
| BAKKEN | 2-2011 | 28 | 13910 | 14180 | 2549 | 19675 | 17040 | 2565 |
| BAKKEN | 1-2011 | 31 | 17569 | 17292 | 4411 | 23746 | 16500 | 7168 |
| BAKKEN | 12-2010 | 31 | 19563 | 19723 | 4617 | 27563 | 21739 | 5747 |
| BAKKEN | 11-2010 | 27 | 17370 | 17504 | 3908 | 16374 | 616 | 15691 |
| BAKKEN | 10-2010 | 27 | 13752 | 13657 | 2203 | 3863 | 0 | 3863 |
| BAKKEN | 9-2010 | 24 | 11194 | 11171 | 2397 | 8150 | 0 | 8150 |
| BAKKEN | 8-2010 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 7-2010 | 17 | 3794 | 3285 | 7599 | 1691 | 0 | 1691 |
Mark Curwin of Enbridge Energy said, "Well there's a large water body there and it makes sense frankly as your route pipelines to try and stay away from population centers as well as significant natural resources."November 26, 2013: Marathon to become biggest shipper on Sandpiper.
.... light crude production in North Dakota’s Bakken shale play has climbed 250 percent to 700,000 barrels per day, and could grow to as much as 1.2 million barrels per day in five years.
Enbridge’s future North Dakota feeder system project, known as the Sandpiper Project, will cost $2.5 billion and is expected to be in service in early 2016. The company said it expects the light crude takeaway capacity at the Bakken play to grow from 225,000 barrels per day to 580,000 barrels per day.
The 24-inch diameter pipeline will expand 600 miles from North Dakota to a mainline system terminal in Wisconsin.November 4, 2012: The Dickinson Press has an update on the Sandpiper pipeline, proposed pipeline from Tioga, ND, to Superior, WI, but I don't see anything new in the article.
Enbridge is in the early planning stages for the Sandpiper Pipeline, which could transport about 225,000 barrels per day, said Katie Haarsager, community relations adviser for Enbridge.
Enbridge’s current capacity in North Dakota is 275,000 barrels per day.
By the first quarter of 2013, it’s expected to expand to 425,000 barrels per day with the completion of the Bakken Expansion Program.
The Sandpiper Pipeline would be Enbridge’s largest project in North Dakota, but its size is not uncommon when compared to other Enbridge projects nationwide, Steede said.
One large project, called Sandpiper, described by Mike Moeller, director of Enbridge's North Dakota operations, would ship Bakken oil into a terminal at Clearbrook, Minn., 90 miles east of Grand Forks, and then pipe it on to Superior, Wis., where it would connect to other pipelines heading east and south.And this is new to me:
Yet another proposed pipeline costing up to $1.8 billion would transport Bakken crude 1,300 miles south to Cushing, Okla., another major terminal. The builder, OneOk, also plans a separate line that would be the first out of the Bakken field dedicated to carrying the valuable liquid components stripped out of natural gas.Link here to InsideClimate News/Dickinson Press.
Triangle Petro is going to have their own frac crew, don't forget about Liberty Resources - They frac Zavanna's wells..
Do whatever it takes to get your property to whom you want it to go before you die. If at all possible, don't let anything go through probate. Probate will tie things up for quite some time but that's a minor problem compared to the bigger problem. Having done title searches I can tell you it will take hundreds of hours to sort out who owns what minerals, and for lawyers those are billable hours. After three generations of North Dakotans, oil rights have been spread out among thousands, and the proportions have grown smaller and smaller. In many cases, one can almost guarantee that any potential for mineral rights will be lost in probate. You might as well assume most of your oil money will be lost in probate if you area a small player. Many would recommend a family trust.It is in the best interests of lawyers to have you put everything into a will. In fact, anything in a will is probated, to the best of my knowledge. And that's why lawyers tell you to make sure you have a will. You do not want your property to go through probate. One can find a way to transfer property to heirs without going through probate in almost every case. Most interesting is this: there is a way to have one's equities go to your designated heirs without going through probate.
The outage helped spur Gulf Coast spot-market prices for wholesale regular gasoline to $2.73 a gallon on Wednesday, up five cents from Friday. It also added support to gasoline prices at the New York Mercantile Exchange, which closed at $2.66 a gallon Wednesday, down from $2.69 Friday amid economic worries but on the rebound since Monday because of signs U.S. fuel demand is increasing, said Gene McGillian, a broker at Tradition Energy."GM's Opel To Close Car Factory in Germany," p. B9. This story was getting a lot of coverage earlier this year. Now it's a small story buried in the WSJ. After you read the story: any wonder why unions are failing in the US?
Meanwhile, Saudi Aramco is reviewing what to do with the huge amounts of so-called sour crude oil it has shipped to the refinery, said a person familiar with the company. The Saudis had agreed to supply Motiva with all the sour crude it needed for several months while it tested its expansion, because using only one type of oil made the start-up easier. Now the specter of millions of barrels of excess unrefined crude is having an impact on local oil prices in the U.S. Gulf Coast, one trader said.
The decision marks a critical step in GM's efforts to turn around its chronically money-losing European business, which has become the U.S. auto maker's biggest albatross since it emerged from bankruptcy three years ago. Opel is under intense pressure to slash excess capacity to help staunch its losses in the region's overcrowded and largely unprofitable auto market. Bochum, one of Opel's oldest and costliest sites, has long been viewed as a prime target for closure.Despite tariffs: "US Solar-Panel Demand Expected to Double," p. B9.
But the move to halt production in Bochum won't come as quickly as GM officials had hoped. As part of its negotiations with Germany's powerful labor unions, the auto maker said it was discussing holding off any compulsory layoffs in Germany until 2016, two years longer than its current labor agreement provides. GM could still pursue layoffs though negotiations with the union.
Intriguing to me is that there is downtown real estate still available in Jamestown, only about a mile from the college. In talking to the very sweet Cathy at the front desk, of the very comfortable Gladstone Inn & Suite's where I am staying, it is apparent that Jamestown is going through some changes. Located along Interstate 94, within a few hours of a major oil boom, a few other nearby job catalysts and with a charming downtown, the Buffalo City appears to be a town on the come.While eating dinner at Grizzley's, I had the opportunity to talk to a few truckers. Each of them made the point that Williston was a little wild right now, but that the money was flowing. One gentleman hauled fracking mud from Michigan, which he described as being used to water proof the piping used in the drilling process. He was quite knowledgeable about the process and believed that, from an environmental standpoint, the drilling companies were being very diligent about protecting the ground water, if nothing else to protect their golden goose.
The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.The refrain -- actually two refrains repeat:
Weekly applications are a measure of the pace of layoffs. When they drop below 375,000, it typically suggests hiring is strong enough to reduce the unemployment rate.I will stick with 400,000 -- it's easier to remember and gives a bit better cushion going forward.
... hiring has slowed, raising concerns about the pace of the recovery. Employers added an average of only 96,000 jobs per month in the past three months. That's down from an average of 252,000 in the previous three months.At fair and balanced C-Span:
The United States has regained less than 3.8 million, or 43 percent, of the 8.8 million jobs lost during and immediately after the recession.Graphically.
By moving houses out of the so-called "shadow inventory" and onto the market, the increase in foreclosures could be a drag on the fragile U.S. housing recovery.The private sector is doing just fine.
