Producers: CLR (2), Fidelity, Whiting, Hess, Oasis, and Hunt.
Fields: Green River, Bell, Alger, Dollar Joe, Parshall, and two wildcats.
One of the wildcats is a CLR wildcat south of Stockyard Creek, southeast of Williston.
The other wildcat, the Oasis permit, is north of Williston.
Interestingly, Fidelity's permit is in Green River. The Green River oil field is just north of Zenith oil field; the two fields share a common border. Remember Zenith? Yeah, that's where Empire Oil just paid $9,000/acre for five tracts.
Monday, April 4, 2011
Rigzone: The Bakken Helping to Make up the Deficit Due to the Permitorium -- Bakken, North Dakota, USA
Link here. From the Rigzone:
According to the Bismarck Tribune:
Harold Hamm, CLR/CEO opines there are 24 billion barrels of recoverable oil from the Bakken pool (Bakken and Three Forks formations).
A spill-related slowdown in the Gulf of Mexico could cut into oil production from the offshore basin for several years. But a number of emerging oil fields onshore, once thought out of reach, are helping the U.S. fill in the gap in the meantime.A very nice article.
Oil and gas companies, using techniques mastered in recent years to produce natural gas from shales and other dense rocks, are now having success extracting big quantities of oil from tight rock formations stretching from Texas to North Dakota.
The Bakken shale, for instance, could hold more than 4 billion barrels of undiscovered, technically recoverable oil -- a 25-fold increase over what could be recovered in 1995, according to the U.S. Geological Survey. Other emerging U.S. oil fields include the Granite Wash, from North Texas into Oklahoma.That number -- 4 billion barrels -- probably includes both the Bakken formation and the Three Forks formation. Regardless, it's a huge number.
According to the Bismarck Tribune:
Bakken production had been just 13 million barrels until 2004 but jumped 191 million barrels since then, records show.So, rounding, 200 million barrels so far from the Bakken. 4,000 million / 200 million = 20 years at current rates of production. Production is expected to increase significantly over the next few years however. But that fits the "Bakken analysis" which suggests new drilling will continue until 2030, and production from the Bakken will continue through 2100.
Harold Hamm, CLR/CEO opines there are 24 billion barrels of recoverable oil from the Bakken pool (Bakken and Three Forks formations).
Happy Anniversary: 60 Years in the Oil Patch, Williston Basin, North Dakota, USA
The Clarence Iverson well hit oil on April 4, 1951.
This is a nice review. Unfortunately it's a regional article and the link will probably break soon. If I get time, I will provide some data points from the article.
The most important takeaway: the Bakken formation overshadows every other pay zone in the Williston Basin, but Bakken technology will eventually be used for those other non-communicating formations.
This is a nice review. Unfortunately it's a regional article and the link will probably break soon. If I get time, I will provide some data points from the article.
The most important takeaway: the Bakken formation overshadows every other pay zone in the Williston Basin, but Bakken technology will eventually be used for those other non-communicating formations.
Heart of the Bakken: Another Record -- Snowiest Winter On Record for Williston, North Dakota, USA
It's official. Williston, North Dakota, set a new record for the most snow in any winter in its history: 95.1 inches. The previous record was 94.7 inches.
The year for the previous record was not given in this Bismarck Tribune story but it was probably pre-global warming days. [Update: yes, according to the Williston Herald, the previous record was set in 1895-1896 -- definitely before global warming.]
I can't make this stuff up. The linked article was posted one year ago, April 2, 2010. Most interesting are the UN sessions in 2008 concerned about less snowfall in the future due to global warming.
The most interesting thing about this story is the fact that Williston has never been known for snow. It's been known for very cold winters, but with regard to snow, Williston seldom gets much snow. I remember all my high school years wishing there was more snow to go snowmobiling, but not to be. There were a lot of nearly snowless winters.
Can't wait to see what next year brings.
The year for the previous record was not given in this Bismarck Tribune story but it was probably pre-global warming days. [Update: yes, according to the Williston Herald, the previous record was set in 1895-1896 -- definitely before global warming.]
I can't make this stuff up. The linked article was posted one year ago, April 2, 2010. Most interesting are the UN sessions in 2008 concerned about less snowfall in the future due to global warming.
The most interesting thing about this story is the fact that Williston has never been known for snow. It's been known for very cold winters, but with regard to snow, Williston seldom gets much snow. I remember all my high school years wishing there was more snow to go snowmobiling, but not to be. There were a lot of nearly snowless winters.
Can't wait to see what next year brings.
$120 WTI Oil? -- CNBC
Two talking heads on CNBC within the last hour, on two different segments, two different shows both suggested oil will go to $120.
One pundit noted there is some evidence of "demand destruction" or "pulling away from the pump." But he said that was good news: they will spend their money elsewhere. [Assuming they can get to there, as Tina Fey would say.]
It's good to remember that in his energy security speech President Obama was not concerned, noting that a $10 rise in a barrel of oil only translates to a 25 cent / gallon increase in the price of gasoline. And since gasoline is creeping up 20 to 40 cents, it appears that some folks are talking oil up to $120.
The increasing price of oil was related to a) weakness of the dollar; and, b) inflation. It was noted that disasters (Japanese nuclear reactor/earthquake), political events (Libyan "kinetic military action"), and improving global economy (China, India) might be playing a small role in the increasing price of oil.
Meanwhile, CNBC noted several times this morning that the spread between Brent and WTI was widening once again, after coming closer together last week.
One pundit noted there is some evidence of "demand destruction" or "pulling away from the pump." But he said that was good news: they will spend their money elsewhere. [Assuming they can get to there, as Tina Fey would say.]
It's good to remember that in his energy security speech President Obama was not concerned, noting that a $10 rise in a barrel of oil only translates to a 25 cent / gallon increase in the price of gasoline. And since gasoline is creeping up 20 to 40 cents, it appears that some folks are talking oil up to $120.
The increasing price of oil was related to a) weakness of the dollar; and, b) inflation. It was noted that disasters (Japanese nuclear reactor/earthquake), political events (Libyan "kinetic military action"), and improving global economy (China, India) might be playing a small role in the increasing price of oil.
Meanwhile, CNBC noted several times this morning that the spread between Brent and WTI was widening once again, after coming closer together last week.
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