tag:blogger.com,1999:blog-1149283829854298377.post6383342915893994886..comments2024-03-28T00:16:36.326-05:00Comments on The Million Dollar Way (The Bakken Oil Blog): Estimates of Bakken Recoverable OilBruce Oksolhttp://www.blogger.com/profile/10952652803684625738noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1149283829854298377.post-46431989405453428662013-02-18T09:53:24.034-06:002013-02-18T09:53:24.034-06:00the USGS revised estimate will be something shy of...the USGS revised estimate will be something shy of Hamn's 24B Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-61493279145829172612013-02-18T09:16:04.620-06:002013-02-18T09:16:04.620-06:00Thank you. It really is quite amazing.
This is w...Thank you. It really is quite amazing. <br /><br />This is what I find most interesting: there are alternative "plays" in the US: the Utica, and the Eagle Ford, particularly. I believe the Eagle Ford will provide a better return on investment; I don't know the environmental pushback and challenges in Ohio/the Utica. <br /><br />I would think there is legitimate concern that drillers might migrate to those areas (the Eagle Ford and the Utica) but the tea leaves (based on continued CAPEX planned by drillers for the Bakken; and services, such as BNSF) suggest there is as much interest as ever in the Bakken, despite these "competitors. <br /><br />I suppose the all the infrastructure put in place over the past five years in the Bakken is starting to yield huge dividends. <br /><br />By the way, back to your original comment/the original post: there's quite a wide gap between 3 billion, 6 billion, and 24 billion. Even if Harold Hamm is half right, he would be estimating 12 billion bbls of recoverable oil. Bruce Oksolhttps://www.blogger.com/profile/10952652803684625738noreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-76745458401903900112013-02-18T08:44:08.228-06:002013-02-18T08:44:08.228-06:00A while back I copied the NDIC’s data for Bakken-o...A while back I copied the NDIC’s data for Bakken-only production to a spreadsheet so I could do some analysis and prep my own graphs. Hey, I’m an accountant - we do things like that. I only copied the data back to ’96 and not ’53, but those monthly amounts are really small, like around 10K per month with a high of 100k for a few months. <br /><br />I calculate the total of Bakken-only production at 527,844,985 barrels. Call it 0.5 billion.<br /><br />At that rate, there is *only* 13 times more oil to extract that has been done to date assuming the NDIC estimate of 6.5B you cite. With Hamm’s suggestion of 24B, there are 48 barrels to go for every one that has been extracted.<br />James Ulvoghttp://outrunchange.com/noreply@blogger.com