Elsewhere someone asked how to generate a PDF of a screen shot of the GIS map server.
It's incredibly easy: simply choose the area of the map you want to take a "photo" of, and then click on "Generate PDF" on the sidebar on the left on the GIS map server.
It may take a few minutes to complete, so just sit back a few minutes and see if the PDF will generate. You have to allow pop-ups.
I've tried map servers for oil and gas from other states, and none of them are as easy to use as the one from NDIC. I am very impressed.
Friday, September 30, 2011
The Face of the Bakken in the Wall Street Journal -- Bakken, North Dakota, USA
Locator: 10010OBAMA.
Updates
November 26, 2016: flashback. This post was originally posted back in 2011, and then tagged for follow-up in 2016. Now I have tagged it for 2021. Note that back in 2011, President Obama said that a battery would be developed that would equate to 130 miles per gallon.
We now have EVs that can go 200 miles on one charge. Miles per gallon / battery conversion here. The 2017 Chevy Bolt is rated at around 120 MPGe. Almost there.
Original Post
Link here. This is the WSJ's weekend interview; a big thank you to Chris for alerting me to it.
Harold Hamm, the Oklahoma-based founder and CEO of Continental Resources, the 14th-largest oil company in America, is a man who thinks big. He came to Washington last month to spread a needed message of economic optimism: With the right set of national energy policies, the United States could be "completely energy independent by the end of the decade. We can be the Saudi Arabia of oil and natural gas in the 21st century."Not only riding the wrong horse, he's riding with the wrong posse.
"President Obama is riding the wrong horse on energy," he adds. We can't come anywhere near the scale of energy production to achieve energy independence by pouring tax dollars into "green energy" sources like wind and solar, he argues. It has to come from oil and gas.
How much oil in the Bakken?
How much oil does Bakken have? The official estimate of the U.S. Geological Survey a few years ago was between four and five billion barrels. Mr. Hamm disagrees: "No way. We estimate that the entire field, fully developed, in Bakken is 24 billion barrels."
If he's right, that'll double America's proven oil reserves.
"Bakken is almost twice as big as the oil reserve in Prudhoe Bay, Alaska," he continues. According to Department of Energy data, North Dakota is on pace to surpass California in oil production in the next few years. Mr. Hamm explains over lunch in Washington, D.C., that the more his company drills, the more oil it finds. Continental Resources has seen its "proved reserves" of oil and natural gas (mostly in North Dakota) skyrocket to 421 million barrels this summer from 118 million barrels in 2006.The president's reaction:
When it was Mr. Hamm's turn to talk briefly with President Obama, "I told him of the revolution in the oil and gas industry and how we have the capacity to produce enough oil to enable America to replace OPEC. I wanted to make sure he knew about this."
The president's reaction?
"[President Obama] turned to me and said,
'Oil and gas will be important for the next few years. But we need to go on to green and alternative energy. [Energy] Secretary [Steven] Chu has assured me that within five years, we can have a battery developed that will make a car with the equivalent of 130 miles per gallon.'"
Mr. Hamm holds his head in his hands and says, "Even if you believed that, why would you want to stop oil and gas development? It was pretty disappointing."I've tagged this note for follow-up in October, 2016, five years from now.
Oil and Gas: The Long View
From Merrill Lynch, published in September (2011) issue of the CFA Institute:
The overall pattern in global oil consumption growth shown in Figure 5 is formidable. The forecast is for an average increase of 1.4 million barrels per day through 2015, compared with the average increase of 1.1 million barrels per day over the past 25 years. Even considering some of the efficiency gains, a deceleration in the rate of growth in consumption does not seem likely.The reference to the Bakken:
Of the various emerging market countries, th dominant player is China. Over the forecast period, China will account for 32 percent of the overall growth in consumption or 2.6 million barrels of oil per day. In fact, the growing demand in China is averaging close to 500,000 barrels per day, which is a growth rate of about 5 percent a year. Other Asian countries account for 23 percent of the overall growth in consumption, and the Middle East accounts for 19 percent.
Much of the growth in oil demand in China is a result of strong demand for cars and light commercial vehicles. Figure 6 shows the sales of cars and light commercial vehicles in Western Europe, North America, and China from 1998 and estimated through 2015. The Western European automobile market was fairly flat, declined during the financial crisis, and is enjoying some recovery now. The North American market suffered an even bigger decline during the crisis but has had an impressive recovery.
The most interesting fact, however, is that China’s car market now exceeds 20 million vehicles per year. It is expected to continue to grow through 2015. To sustain this level of growth, oil demand will need to be 350,000 barrels per day per year. Oil demand in the Middle East is also rapidly expanding. In fact, the expectation is that annual demand in the Middle East will expand by about 300,000 barrels per day per year.
I say that because both the oil sands of Canada and the Bakken and Eagle Ford shales in the United States have tremendous potential. With the oil shales, the development will take 10 to 15 years, and although it is not prolific in terms of individual well production, it is highly economic production that is economically better than $50 a barrel. The estimateThe article is eleven pages long with some very interesting statistics. Perhaps more later.
is that 2 million barrels per day could be developed from those two oil shale sources, in addition to an incremental 1.5 million barrels from the Canadian sands.
For Investors: SeekingAlpha On Bakken Oil Plays -- Bakken, North Dakota, USA
Link here.
Nothing new that regular readers didn't already know.
Some investors just keep accumulating shares.
Nothing new that regular readers didn't already know.
Some investors just keep accumulating shares.
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