Category: Shale Oil

North Dakota just released the Bakken September Production Data as well as the September Production data for all North Dakota . There was a suprisingly hefty increase in Bakken production in September, up 52,568 bpd to 1,120,031 bpd. North Dakota production was up slightly less, 52,394 bpd to 1,184,693 bpd. This means production outside the Bakken was down slightly. Bakken Barrels Per Day Increase These big increases happen ever so often and are usually followed by a not so large increase for a few months. I think there is some kind of reporting anomaly here. But as you can see the 12 month average increase gives a better indication of what is really going on. From the Director’s Cut : Aug Producing Wells = 11,565 Sep Producing Wells = 11,741 (preliminary)(NEW all-time high) 8,238 wells or 70% are now unconventional Bakken – Three forks wells 3,503 wells or 30% […]

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The number of rigs drilling for Bakken Shale oil in North Dakota has dropped sharply as a result of the decline in crude oil prices, a development that may affect Continue Reading

4711 Votes U.S. Shale Boom Masks Threats to World Oil Supply The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America , the International Energy Agency said. “The global energy system is in danger of falling short of the hopes and expectations placed upon it,” the IEA said today in its annual World Energy Outlook. “The short-term picture of a well-supplied oil market should not disguise the challenges that lie ahead as reliance grows on a relatively small number of producers.” Global oil consumption will rise to 104 million barrels a day in 2040 from 90 million barrels a day in 2013, driven by demand for transport fuel and petrochemicals in developing countries , the report said. To meet that growth and replace exhausted fields will require about $900 billion a year […]

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URL: http://www.rigzone.com/news/oil_gas/a/135905/Letter_From_North_Dakota_The_Oil_Party_Rocks_On Hess To Form MLP For North Dakota Oil, Gas Transport Assets Falling oil prices have spooked Wall Street and even parts of Texas. But in North Dakota’s booming oil patch, the crude-fueled party carries on. WILLISTON, N.D., Nov 13 (Reuters) – Falling oil prices have spooked Wall Street and even parts of Texas. But in North Dakota’s booming oil patch, the crude-fueled party carries on. Since June, the price of crude oil has fallen 30 percent to about $75 a barrel, raising fears that oil production would slow across the United States. But you wouldn’t know it here. The state’s economy remains the fastest growing in the nation, thanks to more than 1 million barrels of oil produced each day. Billions of investment dollars continue to flow to new wells, apartments and shopping centers, a bet that development of the state’s prolific Bakken shale formation, which the […]

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Fracking an oil well takes millions of dollars, thousands of pounds of horsepower and dozens of people, but the whole operation can be brought to a halt by a humble Continue Reading

Drone Image, Courtesy CSIRO Could drones be coming to the Bakken oil patch? It’s not such a far fetched idea. According to the Bismarck Tribune , the Federal Aviation Administration and six other states, including Texas, home of the Eagle Ford Shale , have recently been selected as test sites for integrating Unmanned Aircraft Systems (UAV) or drones into the general population. Modern drone technology can trace its origins back to the U.S. military in the late 1950s, but the concept of drones has been around since the 1800s. The commercial use of drones has been met largely with resistance from the FAA, however, the agency did grant ConocoPhillips permission to use drones in Alaska’s Prudhoe Bay oilfield, and in June of this year, granted a similar permission to British Petroleum. How Drone Technology Could Be Used in the Oil Patch With the green light from the FAA for testing in North Dakota, which for now is limited to agricultural applications, the […]

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GREELEY, Colo. (AP) — An accident at a hydraulic fracturing site in northern Colorado killed one worker and seriously injured two others Thursday, authorities said. The three men were trying to heat a frozen high-pressure water line at the oil or gas well site when it ruptured, Weld County sheriff’s Sgt. Sean Standridge said. One man was hit by a stream of water or fracking fluid and died from the impact. The accident happened near Mead, about 35 miles north of Denver, on the fourth straight day of frigid weather in the region. "The pipe was frozen and they were trying to heat it up to get it flowing again," Standridge said. The injured men were flown to hospitals, he said. The temperature in the area was about zero at the time of the accident, National Weather Service meteorologist Bob Kleyla said. Overnight, the temperature had dropped to minus […]

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Breathing space” in global crude oil markets ushered in by U.S. shale oil output doesn’t mean the glut will last forever, the IEA said in a Wednesday report.  The International Energy Continue Reading