MonDak Energy Alliance Update -- Bakken, Williston, North Dakota

The Williston Herald provided an pdate from the MonDak Energy Alliance at their annual (?) meeting Wednesday (Feb 23, 2011) meeting in Williston.  (regional links break early and break often)

As usual, some numbers rounded.

Infrastructure

State government has budged $1 billion for infrastructure in western North Dakota: includes $230 million for state roads; $140 million for county and township roads.

Projects Update

Trenton Railport project

• 270-acre terminal site in Trenton, North Dakota
• Expected to be operational by end of year

Rangeland Energy (Sugarland, TX)

• A bulk storage plant and terminal will be constructed at Epping, North Dakota

Target Logistics

• Update on man-camps with 750 units in Williston, Tioga and Stanley (all North Dakota)

Videos of the Heart of the Bakken -- Williston, North Dakota

Great videos of the heart of the Bakken, Williston, North Dakota.

It's really an incredible site for those who enjoy travelogues. 

This will be linked at the "Welcome" tab at the top of the blog.

Barron's Energy Picks in the Bakken

The link is here, but it requires a subscription.

The story has been posted in a comment here.

BEXP Quadruples Net Income Year-Over-Year -- After-Tax Earnings Quintuples

BEXP reported net income for 4Q10 was $13.8 million ($0.12 per diluted share) versus net income of $2.5 million ($0.03 per diluted share) for the same period last year.

BEXP's after-tax earnings in 4Q10 excluding the loss on the early redemption of our Senior Notes due 2014 and unrealized mark-to-market hedging losses were $25.4 million ($0.21 per diluted share) as compared to our after-tax earnings in the fourth quarter 2009 excluding our unrealized mark-to-market hedging losses were $3.8 million ($0.04 per diluted share). 

Link here.

North Dakota Now Exceeds Libya's Oil Production

That may not be entirely accurate (that North Dakota now exceeds Libya's oil production) but I bet I'm not far off.

OGJ reports that:

Due to the continued violence sweeping the country, Libya’s oil production has decreased by 75% to around 400,000 b/d from the normal 1.6 million b/d, according to Paolo Scaroni, Eni SPA chief executive officer. 

I would assume that when the story was written some oil that was still in the pipeline has now been offloaded. With the continued conflict, production is dropping further. In addition, it's been my experience that folks try to put the best face on things, and there may be a bit of exaggeration that Libya is still producing even that much oil.

North Dakota is producing about 365,000 bopd. Production is being artificially restricted for any number of reasons, and it's very possible North Dakota is closer to the 400,000 bopd threshold than Libya is each day the conflict continues.