WoodMac: Bakken capex to top $15 billion in 2014

04/07/2014
Oil and gas industry analyst Wood Mackenzie Ltd. forecasts that operators in the Bakken shale will invest more than $15 billion on drilling and completions in 2014, second only to the Eagle Ford in the US Lower 48 states. The Bakken and Three Forks formations hold close to $118 billion in remaining value. WoodMac believes operators will recover more than 20 billion bbl of oil reserves throughout the life of these plays, despite concerns over infrastructure constraints. "We expect Bakken and Three Forks oil production to average 1.1 million b/d in 2014, growing to 1.7 million b/d in 2020," says Jonathan Garrett, Americas upstream research analyst for WoodMac. After analyzing twel...
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