Friday, January 1, 2016

Top Bakken Stories For 2015

Commentary: The slump in oil prices was clearly the big story for 2015. It dominated everything else and affected every other story in the Bakken. It was the 800-pound gorilla stomping on the Bakken.

I started to track the stories here but after awhile I simply gave up; way too many.  Despite the slump in oil prices, a lot of activity was still seen. This might have been the biggest "announced" story in North Dakota last year, but many folks are saying, "I will believe it when I see it."
In mid-December, a $3 billion MEG plant in Louisiana was announced; there's no reason why these kind of projects can't be built in North Dakota. So, we'll see.  

It seems like an eternity ago, but Mark Perry also visited the Bakken this past year:
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The List
Subject to Change

Top Story of The Year: slump in oil prices

The world: OPEC on the ropes
OPEC: retrenchment, recession, revolution?
US overtakes Russia as #1 fossil fuel energy producer in the world
Spectacular production!  the US officially gets on the top ten list of countries with proved oil reserves

The nation: US okays exporting crude oil after 40-year ban
This ship has sailed: US ban on crude oil exports has expired; Harold Hamm discusses; EIA data; commentary
The US increased its proved reserves estimate for sixth year in a row
Barnett natural gas shale reserves twice as large as originally estimated 
Greater sage grouse not placed on endangered list  

North Dakota: fracklog (DUCS)
A new term in the Bakken: fracklog
Are DUCs a big deal worksheet 
DUCs -- Rigzone analysis

North Dakota: resilient economy
Number of North Dakota millionaires jump 

Minnesota: raises one of nation's lowest minimum wage
The last time Minnesota raised its minimum wage was in 2005, from $4.90 to $5.25/hour

Most exciting operator in the Bakken in 2015: SM Energy
SM Energy to exit mid-Continent, close Tulsa office; focus on Bakken, Eagle Ford

Most surprising story of 2015: US okays exporting crude oil

The deals: OXY officially exits North Dakota
OXY sold its North Dakota acreage to Lime Rock Resources
Fidelity (MDU oil and gas division) back up for sale
the Bakken deals in 2015 
Statoil eyes EOG
Update on EPD bid to buy WMB 

Record price per acre:

Bakken operations, rigs: active rigs hit Bakken boom low
Fracklog at 1000+ -- SeekingAlpha

Bakken operations, production: Red Queen has not fallen off her treadmill
OXY USA calls it quits "for now" in the Bakken
Follow-up on a million-bbl Bakken well 
Halcon wells tracking well above 800,000 bbls EUR in the Fort Berthold prospect
Early use of ESPs in the Bakken
Mike Filloon on EOG's super-long, super-productive wells
Bakken is #1 in US for increased productivity per rig
Random update of the three oldest producing oil wells in North Dakota
All four top Bakken counties in the top ten oil producing counties in the US
In July, almost a year into the slump in oil prices:
In July, almost a year into the slump in oil prices, production increases 16% month-over-month in Texas; 3% in North Dakota
EOG's Riverview sets a new Bakken record

Bakken Operations, density: infill density
Oasis proposes up to 24 wells in several 1280-acre drilling units
QEP to request permission for 24 wells on each of two 1280-acre drilling units
White Butte Oil Operations: dual lateral; 320-acre spacing; huge wells 
"NC" now being used by drillers: "NC" means the well has reached TD, but is awaiting completion

Most exciting production prediction:

Bakken oil field story of the year:

Biggest story in takeaway capacity:

CBR: local Williston company receives first 100-unit train
Red River Stony Creek Rail Yard receives first 100-unit train
Amount of crude oil shipped by rail through Nebraska triples
New CBR loading facility, Palermo, North Dakota, about ready to begin operations
Bakken CBR to east coast refineries setting new records -- EIA
Bakken sets new record on amount of oil shipped to Californi
 
Pipeline: Pipeline "under the lake" approved
Ethane pipeline from Tioga to Canada to expand capacity
Native Americans put screws to pipeline companies
Under-the-lake pipeline approved
More oil is now gathered by pipeline than truck in western North Dakota -- a first 

Fracking: fracklog (DUCs) 
Increased volumes of fracking sand being ordered from suppliers
UNP sets frack sand shipment record
The octofrac
Halo effect, case study; Halo effect? Halo effect
Evidence of communication between wells 
MRO reports great success in re-fracking a stripper well
EOG reports a 63-stage frack; using almost 20 million lbs of sand
Another example: EOG used almost 20 million lbs of sand in a 50-stage frack; and, a 55-stage frack
How much fresh water being used in Bakken fracks? 

Flaring: rules relaxed

Natural gas: huge NGL capacity increase in the Bakken, an oil field
A wildcat natural gas well east of the Bakken  -- a million boe in the past three years

Refining: Dickinson refinery begins operations
MDU-Calumet Dickinson refinery begins production; and here;
Another refinery proposed for North Dakota; west of Belfield

Investment story of the year: bankruptcies
American Eagle files for bankruptcy
Samson Resources seeks bankruptcy protection 

The "Other" Williston Basin formations: the Madison

Bakken economy (too many to list): Legacy Fund tops $3.3 billion
Legacy fund finished 2015 at $3.4 billion dollars
North Dakota #1 in economic development -- US Chamber of Commerce
Four fourth year in row, North Dakota ranked #1 in economic well-being of children
The Williston Wire
Williston Wire
Update on the proposed $4 billion petrochemical plant in North Dakota; connecting the dots on this one; deal with CLR announced;
June: taxable sales and purchases hit new record in the Bakken
May: taxable sales and purchases hit new record 
Six of the top fifteen fastest growing counties in the US were in North Dakota last year
County approves $500 million shopping hub for Williston
The nation's third largest, and North Dakota's largest, veterinary clinic opens in Watford City
Capital Lodge, between Tioga / Ray to shut down
North Dakota to spend $40 million on US 2 & 85 between Williston, Minot
First drone manufactured in North Dakota rolled out
Dickinson's Menards biggest to date; Williston's Menards will be bigger
Williston's average wage tops $80,000, beating nation average of $72,000
$400 million urea fertilizer plant in the works for Beulah, ND

Miscellaneous: Katie Ledecky
Katie Ledecky named female athlete of the year -- a three-peat
Swammy names Katie Ledecky "Person of the Year" 

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