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

EIA: BAKKEN RIGS PRODUCING 50% MORE OIL IN FIRST MONTH ONLINE

Apr 16, 2014

Operational efficiency is improving across the Bakken-Three Forks tight oil play. US Energy Information Administration

Bakken leader Continental Resources drills deeper into Three Forks formation

Apr 16, 2014

The Bakken-Three Forks tight oil formation is already one of the top producing oil plays in the US, but leading operator Continental Resources Inc. believes there may be even more oil in place than previously thought in deeper benches of the Three Forks formation.

ConocoPhillips raises estimates on Eagle Ford recoverable resources, production

Apr 11, 2014

ConocoPhillips has increased its estimated resource base in the Eagle Ford play to 2.5 billion bbl of oil in place from 1.8 billion bbl, as well as its estimated production from current volumes to more than 250,000 boe/d by 2017.

WoodMac: Bakken capex to top $15 billion in 2014

Apr 7, 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.

WoodMac: Bakken drilling, completion capex to top $15 billion in 2014

Apr 2, 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.

EIA: Tight oil production pushes US supply to more than 10% of world’s total

Mar 26, 2014

US tight oil production averaged 3.22 million b/d in the fourth quarter of 2013, pushing overall US crude oil production to more than 10% of the world’s total production, up from 9% in fourth-quarter 2012, according to the US Energy Information Administration.

WoodMac: US tight-oil market ‘too robust to bust’

Mar 25, 2014

A drop in global oil price levels or a significant widening of the differential between global oil prices and inland realizations are just two of the ways the North American tight-oil boom could go bust, according to a recent analysis from Wood Mackenzie.

Second small diesel refinery planned for North Dakota

Mar 21, 2014

Quantum Energy Inc. (QEI), Tempe, Ariz., said it has secured land for the construction of a 20,000-b/d grassroots hydroskimming refinery in North Dakota’s Williston basin Bakken shale region.

Hiland looks to expand Bakken crude pipeline

Mar 18, 2014

Hiland Crude LLC has launched an open season to solicit shipper interest for crude oil transportation on an expanded version of its Double H Pipeline, currently under construction in the Bakken shale. An initial open season in 2012 filled its 50,000 b/d base capacity.

New York county puts freeze on Bakken crude

Mar 12, 2014

Government officials in Albany County, NY, have issued a moratorium on Global Partners LP’s plans to increase the processing of Bakken crude oil at the Port of Albany pending a public health investigation by the county’s health department.

EIA: Harsh winter affected US heating expenditures, oil production

Mar 11, 2014

Worldwide liquids fuels consumption will increased by 1.2 million b/d this year and by 1.4 million b/d in 2015, according to the latest outlook from the US Energy Information Administration. In last month’s Short-Term Energy Outlook (STEO), EIA projected that global oil demand would climb by 1.3 million b/d in 2014 and 1.4 million b/d in 2015.

Enbridge receives NEB approval for Line 9B reversal

Mar 7, 2014

Enbridge Pipelines Inc. received permission from Canada’s National Energy Board to proceed with its Line 9B Reversal and Line 9 Capacity Expansion project. NEB approved the project with conditions, allowing Enbridge to operate all of Line 9 in an eastward direction, moving crude from western Canada and the US Bakken shale to refineries in Ontario and Quebec.

Lagging pipelines create US gulf light sweet crude glut

Mar 3, 2014

North American pipeline capacity did not adapt quickly enough to rapidly growing crude oil production, resulting in supply bottlenecks. Now that a build-out is under way, a glut of light sweet crude will likely emerge on the US Gulf Coast.

DOT emergency order covers Bakken crude transportation by rail

Feb 26, 2014

The US Department of Transportation issued an emergency order requiring shippers to test Bakken crude oil to ensure it is properly classified before being transported by rail. The Feb. 25 order also prohibits transportation of crude in the lowest-strength packing group.

ExxonMobil replaces 103% of 2013 production

Feb 21, 2014

ExxonMobil Corp. replaced 103% of its oil and natural gas production last year with additions to reserves, mostly of crude oil and other liquids.

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