Bakken Shale

Bakken Shale ImageThe Bakken shale is primarily an oil play. It straddles the US border with Canada and runs through two states – North Dakota and Montana – and two Canadian provinces – Saskatchewan and Manitoba. The US Geological Survey estimates there are 3.65 billion barrels of recoverable crude oil in the Bakken, which would make it the largest oil field in the US outside Alaska. The Bakken is located in the Williston Basin, but not all of the basin includes the Bakken.

The Sanish-Three Forks area is located below the Bakken shale zone and is potentially another new oil reservoir. Brigham Exploration Co. has been active in this area. Natural gas is also found in some parts of the Bakken. The USGS estimates there is about 2.0 trillion cubic feet of gas and another 150 million barrels of natural gas liquids. Major players in the Bakken include EOG Resources, Continental Resources, and Enerplus Resources.

Bakken Shale Map

Bakken Shale News

Forum: US unconventional plays still profitable at $80/bbl oil or less

Oct 31, 2014

The US currently dominates global upstream capital spending, and producers in many unconventional plays can still make a profit with futures prices for benchmark light, sweet crude oil fetching a price less than $80/bbl, a Wood Mackenzie Ltd. senior analyst told an oil breakfast forum hosted by consulting firm Decision Strategies.

PwC: US oil, gas transaction value hits 10-year high in 3Q

Oct 29, 2014

Driven by a rise in billion-dollar deals, midstream activity, and interest in upstream shale plays from foreign buyers, mergers and acquisitions in the US oil and gas industry reached the highest levels in the past decade during the third quarter, according to a quarterly report from PwC US Energy Practice.

Energy Transfer, Phillips 66 in pipeline JVs

Oct 29, 2014

Energy Transfer Equity LP, Energy Transfer Partners LP, and Phillips 66 have formed joint ventures to develop two crude oil pipelines that together will connect the Bakken/Three Forks play in North Dakota with the US Gulf Coast.

NBP launches open season for Bakken Header Supply Lateral project

Oct 27, 2014

Northern Border Pipeline Co. (NBP), Houston, launched a month-long nonbinding open season to gauge shipper interest in a pipeline project to transport natural gas from the Bakken area of North Dakota into the NBP system.

Crude-by-rail safety standards call for better tank cars, reduced speeds

Oct 21, 2014

The US Department of Transportation has proposed new rules for transporting crude by rail that are designed to lessen the frequency and consequences of train accidents by reducing the speed of trains, improving tank car standards, and setting more-robust testing and classification guidelines for crude cargoes.

Ethanol rail safety

Oct 20, 2014

Ethanol producers argue vast differences exist between the potential safety hazards posed by rail shipments of ethanol and the safety hazards posed by rail shipments of crude oil, and they dispute findings of a federal study comparing the two.

Groups sue to block California refinery expansion

Oct 20, 2014

Environmental groups have petitioned a California superior court to stop Alon USA Energy Inc. from moving forward with a plan to expand existing receiving and processing options for North American shale light crude oils at its 70,000-b/d Bakersfield refinery.

Dallas-Ft. Worth area presents lessons in enduring economic growth for shale regions

Oct 16, 2014

The birthplace of the shale revolution-the Barnett shale in North Texas-may well hold the key to enduring economic success for communities experiencing the newfound growth associated with unconventional resource development across the US.

Combination of Whiting, Kodiak, to create top Bakken producer

Oct 16, 2014

The recent acquisition of Kodiak Oil & Gas Corp. by Whiting Petroleum Corp. is set to create the largest producer and most active driller in the Bakken-Three Forks tight oil play.

ARM unit to build Bakken-Three Forks crude gathering system

Oct 15, 2014

Asset Risk Management’s wholly owned subsidiary ARM Midstream plans to build a crude oil gathering system in the Bakken shale and underlying Three Forks formation.

AMP acquires Costar Midstream for $470 million

Oct 15, 2014

American Midstream Partners LP (AMP), Denver, has acquired Costar Midstream LLC from Energy Spectrum Partners VI LP and Costar management for $470 million. The deal closed Oct. 14.

Groups sue to block California refinery expansion

Oct 10, 2014

Environmental groups have petitioned a California superior court to stop Alon USA Energy Inc. from moving forward with a plan to expand existing receiving and processing options for North American shale light crude oils at its 70,000-b/d Bakersfield refinery.

Natural Resource Partners to expand Williston assets

Oct 6, 2014

Natural Resource Partners LP (NRP), Houston, has agreed to acquire nonoperated working interests in oil and gas properties in the Williston basin’s Bakken-Three Forks play from an affiliate of Kaiser-Francis Oil Co. for $340 million. The deal, effective Oct. 1, is expected to close in November.

EIA: US industrial gas demand to rise 4% in 2015

Oct 3, 2014

Relatively low prices of natural gas have contributed to steady increases in US industrial gas consumption since 2009, especially as a feedstock for chemical production.

NGSA forecasts lower winter gas prices on a combined analysis

Oct 1, 2014

In its 14th annual Winter Outlook assessment of the natural gas market, the Natural Gas Supply Association (NGSA) expects downward price pressure on the natural gas market compared with last winter.

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