How long before Bakken Oil will or can be developed in US?
by margie cocco
(sudbury, Ma usa)
Why wouldn't drilling for oil be smart for the US? Why shouldn't people be mad aware of this and fight the environmentalists - LOOK AT THE JOBS THAT WOULD DEVELOP?
Comments for
How long before Bakken Oil will or can be developed in US?
The first horizonatl Bakken was drilled across the fence line from the house I was raised in. The numbers are staggering. There is also the Three Forks Formation below the Bakken, which may be a better play. The horizonatal drilling/frac process are also opening up other reserves around the world.
If you assume that the reserve has one foot of recoverable oil it comes up to around 5 million barrels per section. The Bakken is assumed to be around 25,000 square miles, so you have about 1.25 E11 barrels, which would run the US for about 13.7 years at a rate of 25 million barrels per day.
If you want to know when will it be developed, they are some 80 rigs working in ND and E. MT. (baker-Hughes rig count). The problem is getting the oil to the major refineries. A new pipeline is planned from Canada to Texas, but they may not allow Bakken oil into that system.
More than I know............
Dec 18, 2009 Rating
Bakken truths by: Blue Eyed(ND)Indian
Drilling for Bakken Oil began in ernest in 2007. The USGS assessment of 3.6 billion BBLs was made in April 2008 (largest assessment ever made for a lower 48 land field ever by the USGS). When the assessment was made the initial production from a well was 200 to 300 bbls. per day with an estimated ultimate recovery of 185,000 bbls. per well. Since then,with rapidly increased technology, initial production rates have increased to the 2000-3000 bbls.per day range and with estimated ultimate recovery of 700,000 bbls per well and more. Production of crude oil in North Dakota from all formations in the Williston Basin has increased from 95,000 bbls.per day to around 250,000 bbls. per day by Dec. of 2009.
The lack of pipeline take-away capacity has slowed product
ion but expansion of facilities will increase export capacity in early 2010. Drilling time for the 20,000 foot wells(10,000' down-10,000' out) has improved from 60 days down to 20.
It should be mentioned that 23 to 27 horizons(individual formations) produce oil in the Williston Basin,only four of which have "tasted" the horizontal bit. All four thus far tested have shown prolific production characteristics.
And for all of you tempted to scream "Big Oil" you should know that all the risk and expense of developing this large American asset was taken by small oil companys who risked all to help bring this great country back to at least partial self sufficiency. It is interesting to note that the Obama administration sent 2 billion to help Brazil expand it's offshore oil development but no help or even encouragement to our own.
Who gets the money? The mineral rights owner(usually a rancher or farmer) gets about 20%, the State about 11%, the taxman a goodly%,the employees,merchants,equipment suppliers Etc.a percentage, the American people a percentage and the patriotic small oil companies get what's left.
Most of the work and expense of bringing this product to the American people lies ahead. A refinery must be built,pipelines laid,wells drilled etc. It could take 100 years to fully develope this huge oilfield.
In retrospect, a new USGS assessment must be made to include all the formation potential in this huge AMERICAN asset.
Dec 05, 2009 Rating
I'd like to know too by: Cindi
I'd like that info too. We're paying top dollar for imported gasoline, how abaout some US made product??
