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Post new topic Reply to topic  [ 988 posts ]  Go to page Previous  1 ... 62, 63, 64, 65, 66
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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Wed Oct 28, 2009 6:17 pm 
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In addition to a new North Dakota statewide production record, we now have a new Bakken well production record!

8O :shock:

>>> Whiting Petroleum news <<<
Quote:
[...]

We recently completed three prolific oil wells in the Sanish field. On October 23, 2009, Whiting posted a new record initial production rate for a Bakken well. The Maki 11-27H flowed 4,345 barrels of oil and 2.5 million cubic feet (MMcf) of gas (4,761 BOE) per day during a 24-hour test of the Middle Bakken. The production rate was gauged on a 40/64-inch choke with a flowing casing pressure of 1,190 pounds per square inch (psi). The previous record was held by the Whiting-operated Richardson Federal 11-9H with an initial production rate of 4,570 BOE per day. The Maki well was fracture stimulated in 18 stages, 10 stages using sliding sleeves and eight stages using the "plug and perf" method. The Maki well was drilled in the northeast portion of Sanish field, approximately three miles north-northeast of the Richardson Federal well. Whiting holds a 76% working interest and a 62% net revenue interest in the Maki 11-27H.

[...]

These Bakken wells just keep getting better and better! 8O 8)

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 02, 2009 9:01 pm 
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Interesting discussion on the Bakken in TOD:
http://www.theoildrum.com/node/5928

Now, for the record, this guy here is guesstimating the Bakken can ramp up to 1 million bpd in the 2013-2015 time frame, but even I think that is optimistic. :shock: Maybe by 2015 at the earliest, but in 4 years??? No way. I would be stunned if it got to that much.

But at least Piccolo is now saying his own estimation last year on peak Bakken production was probably pessimistic.

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Sun Nov 08, 2009 7:34 pm 
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>>> LINK <<<
Quote:
Soaring ND oil production to get another boost
Posted In: Energy
By DALE WETZEL - Associated Press Writer - Associated Press
Sunday, November 8, 2009

North Dakota's already burgeoning oil production could soar another 50 percent next year as the state's capacity to export crude catches up with its ability to pump it, state regulators and industry officials say.

If oil prices stay above $60 a barrel and contemplated oil transportation projects become reality, the state could be producing 400,000 barrels of oil daily within five years, said Lynn Helms, director of the state Department of Mineral Resources.

North Dakota's current production now exceeds 230,000 barrels a day, which ranks the state behind only Texas, Alaska and California. The state's output supplies about 2 percent of the nation's domestic crude oil output.

It is expected to approach 350,000 barrels next year, an increase of more than 50 percent, because of a major pipeline expansion and the anticipated startup of a shipping terminal near Stanley that will be able to haul 60,000 barrels a day by rail to refineries near Cushing, Okla.

More expansion being planned by the pipeline companies Enbridge Inc. and Kinder Morgan Energy Partners LP would allow another boost that could put the state's daily production at 400,000 barrels, Helms said.

"Realistically, we could reach the ceiling within five years," he said. "We might be able to get there sooner, just depending on oil prices and drilling activity."

[...]

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 09, 2009 1:12 pm 
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For all those who crowed about the USGS's relatively low estimate of recoverable oil in the Bakken last year, here's a word from a guy who is one of the biggest drillers in this area:

>>> LINK <<<
Quote:
November 09, 2009 11:13 am
Hamm speaks about North Dakota formation

BISMARCK, N.D. (AP) - Billionaire oilman Harold Hamm believes North Dakota's oil reserves are double the federal government's estimates.

Hamm was the keynote speaker Monday at an energy conference in Bismarck. He said the U.S. Geological Survey's estimate of 4.2 billion barrels of oil in the Bakken shale formation could be "100 percent off."


Hamm is the chairman and chief executive officer of Continental Resources Inc., an independent oil and gas company based in Enid, Okla. His company was one of the first to tap the Bakken formation in North Dakota's oil patch 20 years ago.

The Bakken formation encompasses some 25,000 square miles in North Dakota, Montana, Saskatchewan and Manitoba. About two-thirds of the acreage is in western North Dakota.

Hamm also said he believes domestic reserves are growing, and not just in North Dakota.

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 09, 2009 1:21 pm 
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Billionaire, eh?
Wonder if he worries about the EROEI of his field? :P


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 09, 2009 1:53 pm 
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Chesapeake's CEO used to be a billionaire and never worried about EROI in life, that is, until he lost all those billions.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ac.ZepgPjAfI&refer=home


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 09, 2009 2:08 pm 
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You think it was bad EROEI that caused him to sell? :lol:
The stock dropped because they and others were too good at producing n. gas.
That and a couple of things called recession and demand destruction.
You may have heard of the current n. gas glut right now?
N. gas prices are very low. Storage is very full.

btw, don't worry too much about McClendon.
You won't see him at the food stamp lineup anytime soon.


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Tue Nov 10, 2009 11:43 am 
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You think I'm worried about McClendon?

There was an article posted that said Billionaire Hamm thought there was a lot more oil to be found. Maybe so. But I assume the paper used the qualifier "billionaire" assume to give him credentials. My point about McClendon losing billions was to point out that being a billionaire does not mean one is smart. And, as you point out, the gas glut that befell McClendon and wiped him out, might just wipe out the billions held by Hamm, if past is any predictor, and if Hamm is right. Hopefully, he is going to diversify his portfolio for the coming oil glut.


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Tue Nov 10, 2009 12:33 pm 
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The only way Hamm is going to cease to be a billionaire is if the price of oil crashes to about $20 and stays there for years. But hey, you could be right - maybe all this new oil will create a massive glut and the price will crash. :lol:

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Tue Nov 10, 2009 12:45 pm 
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Just like the n. gas price crashed. :lol:

Oh, wait. :( Image


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 16, 2009 2:06 pm 
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Up up up and away!

Image

238K bpd in September!
OilFinder2 wrote:
Another new record! 8O :shock: 8O

231K bpd in August! 8O 8)

https://www.dmr.nd.gov/oilgas/stats/his ... dstats.pdf


And it's expected to reach 350K bpd next year.

Oil! :lol:

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Mon Nov 16, 2009 2:40 pm 
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Location: Austin, TX. The last oasis in the last free state.
Currently, what do folks think this field(s) will peak at max production? 1M bpd?


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 Post subject: Re: THE Bakken Thread (merged)
New postPosted: Sat Nov 21, 2009 5:33 pm 
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Looks like we might finally see activity step back up in the Montana side of the Bakken.

>>> LINK <<<
Quote:
Oil activity shows signs of more life in eastern Montana
By JO DEE BLACK • Tribune Business Editor • November 21, 2009

RICHLAND COUNTY — Oil well drilling rigs are moving back into the fields in eastern Montana, boosting local optimism about the economic future of the energy business in the area.

"Oil drilling in Montana had never entirely gone away, but our rig count was down to about two or three, and right now we are up to four or five," said Tom Richmond of the Montana Board of Oil and Gas. "The biggest operations all have wells to drill, and there are probably about a dozen active in that general area right now."

[...]


It also looks like there's a third target in this area, after the Bakken itself and the Three Forks-Sanish. Though this one sounds like it's probably a lesser target, even though it extends through the entire Williston Basin.

>>> LINK <<<
Quote:
Another new oil formation for ND?
By JAMES MacPHERSON - Associated Press Writer - Associated Press
Saturday, November 21, 2009

A crude-bearing cache known as the Birdbear, beneath North Dakota's already booming oil patch, can be tapped using new technology that would expand horizontal drilling to parts of the state that have never seen it, geologists believe.

The Birdbear is a thin oil formation — only a few feet — locked within muddy limestone and dolomite more than 2 miles underground, immediately beneath the rich Bakken shale and Three Forks-Sanish formations in North Dakota, said Julie LeFever, a geologist with the state Geological Survey in Grand Forks.

"If the Bakken and Three Forks don't work out, here's another target," LeFever said.

Denver-based Whiting Petroleum Corp. already has about 50 horizontal wells aimed at the Birdbear in Billings and Golden Valley counties in southwestern North Dakota, said John Kelso, a company spokesman. The wells there produce up to 400 barrels daily, compared with the company's Bakken or Three Forks wells that can top 2,000 barrels daily, he said.

[...]


And last, but not least, the head of the ND Dept of Natural Resources has an interesting projection:

>>> Optimistic future <<<
Quote:
[...]

15,000 new wells projected

"We project that approximately 15,000 new Bakken and Three Forks wells will be drilled over the next 15 to 20 years and that production will grow to 350,000 barrels per day or higher," Helms said.

[...]

As mentioned in my post above, 350K bpd is expected by somewhere around the end of next year, so he's obviously being conservative with his number in the article above. If his 15,000 wells turns out to be in the ballpark after 15-20 years, and if we assume average per-well production, taking into account declines from older wells, is just 50 bpd, that would give us an additional 750K bpd (assuming all 15K wells remain in production, of course). If technology and secondary/tertiary recovery efforts bump that up to 100K bpd, that's 1.5 million bpd. And I assume he's only talking about the North Dakota Bakken.

No wonder the article was titled "Optimistic Future." :)

_________________
PO. Peak Optimism - when installed natural gas is more than sufficient to maintain installed natural gas. Plus some oil, hydropower, solar, wind, coal and nuclear thrown in for good measure!

Fun new game for peak oilers to play! It's called Follow the Prospects!


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