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

BHI: US oil rig count rises for first time in 30 weeks

Jul 2, 2015

A sudden 12-unit jump in oil-directed rigs during the abbreviated week ended July 2 represented their first rise since Dec. 5, 2014, and helped lift the overall US drilling rig count for a second consecutive week, according to data from Baker Hughes Inc.

BHI: US rig count posts first increase in 29 weeks

Jun 26, 2015

Buoyed by respective rises in natural gas-directed and offshore rigs, the US drilling rig count gained 2 units during the week ended June 26 to reach 859 rigs working, marking its first increase in 29 weeks, according to data from Baker Hughes Inc.

Hess, GIP form Bakken midstream joint venture in $2.675-billion deal

Jun 22, 2015

Global Infrastructure Partners (GIP), an independent infrastructure fund manager, has agreed to acquire 50% interest in Bakken shale midstream assets belonging to Hess Corp. for $2.675 billion in cash.

Whiting reports high IP rates from Bakken, Three Forks

Jun 12, 2015

Whiting Petroleum Corp. reported some of industry's top initial production rates from both the Bakken and Three Forks formations in the Willison basin where the company controls 774,000 net acres and has identified more than 7,500 potential gross drill sites.

RJA: US rig count recovery will be led by three core unconventional plays

Jun 12, 2015

Raymond James & Associates revised its US rig count forecast, noting it expects a 2016 recovery will be disproportionately weighed toward horizontal drilling units in three shale plays: the Permian, Eagle Ford, and Bakken.

Statoil lets carbon dioxide contract for Bakken pilot

Jun 12, 2015

Statoil has let a major carbon dioxide supply and service agreement to Ferus LP of Denver to supply liquid CO2 to be used in a test well to evaluate potential production uplift and partially replace water in a large multistage hydraulic fracturing operation in a horizontal oil well.

Statoil focused on improving completions and doing tests during low-drilling period

Jun 11, 2015

Statoil ASA plans to use what one executive calls "low-activity time" to work on completion designs and to enhance recovery in its unconventional US plays, especially the Bakken of North Dakota and South Texas Eagle Ford. Statoil also holds operating and nonoperating assets in the Marcellus.

Bakken briefs

Jun 11, 2015

Economics incentivize deferring unconventional well completions

Jun 11, 2015

The market has responded with a steepened contango to incentivize storage of crude, and the relatively higher price for delivery a year from now had widened toward the end of the first quarter to as much as $9-12/bbl compared with the next month delivery.

EIA: US shale oil output to decline 91,000 b/d in July

Jun 9, 2015

Crude oil production in July from seven major US shale plays is expected to drop 91,000 b/d to 5.49 million b/d compared with June, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). The forecasted decline is up 5,000 b/d compared with June’s decline from May.

Dakota Prairie refinery delivers first diesel, mulls expansion

Jun 4, 2015

Dakota Prairie Refining LLC, a joint venture of MDU Resources Group Inc., Bismarck, ND, and its 50-50 partner Calumet Specialty Produces Partners LP, Indianapolis, has started the first sales of commercial diesel from production at its recently commissioned refinery in North Dakota.

American Midstream holding open season for Bakken gathering line

May 28, 2015

American Midstream Bakken LLC, a wholly owned subsidiary of American Midstream Partners LP, Denver, is conducting a binding open season for a proposed 50-mile Bakken crude oil gathering and transportation system in the core of McKenzie County, ND.

Low crude prices may thin, but not kill, US production, speakers say

May 18, 2015

Overseas competitors who were caught off-guard initially by rising US unconventional crude oil production have increased their own outputs now and can be expected to try and keep prices low to protect their global market shares, speakers at a May 12 Atlantic Council discussion said.

Quick supply change a vital factor in oil market recovery

May 18, 2015

Large among questions hanging over an oil market groping for balance is the behavior of short-fuse supply.

PwC: Low oil prices reduce 1Q M&A activity in US

May 18, 2015

Mergers and acquisitions (M&A) activity in the US oil and gas industry took a hit in value and volume during the first quarter compared with fourth-quarter 2014, as the drop in oil prices continued to impact companies' growth strategies, according to a report from PwC US.

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