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  • North Dakota Petroleum Council - Industry News
    official data is still being compiled according to the RMOJ s database Mountrail and Dunn County accounted for about 63 of the Bakken drilling in the state Although an estimate and factoring in 640 spacing vs 1 280 spacing total horizontal hole drilled not including vertical in these two counties for the year is in the neighborhood of around 485 miles In another first the Bakken was the top oil producing formation in the state since 1951 accounting for 43 of the states total In previous years the Ordovician Red River was the top producing formation Now in second place the Red River produced 17 239 458 bo or about 27 of the states total in 2008 The top producing company in 2008 continues to be Burlington Resources BR who reported production totals of 12 106 151 bo from 163 active wells 92 of this production is coming from the Ordovician Red River primarily from the Cedar Creek Anticline in Bowman County where the company is exploiting the horizontal Red River BR is also active in the Bakken play where they produced just over a million barrels of oil from 33 wells A year earlier BR was credited with a yearly total of 12 690 287 bo The second largest producer in the state is EOG Resources EOG the current king of the Bakken Jumping up six places from 2007 EOG extracted 8 613 534 bo and increase of 493 or 7 160 745 bo compared to the 1 452 789 bo produced in 2007 All of EOG s production is coming from the horizontal Bakken primarily from Parshall Field in Mountrail County Latest production figures for this field which locates in the overall area of 151 155n 89 91w reveal that in December this field yielded 1 398 352 bo from 108 active wells including confidential wells The majority of these wells are operated by EOG which discovered this field in 2006 Continental Resources CR dropped from 2nd place to third place even though their production increased by over 26 In 2008 CR produced 6 505 653 bo an increase of 1 358 939 bo as opposed to the 5 146 714 bo produced in 2007 Like BR 71 of CR s production is coming from the Red River while 25 of it is being produced from both the Bakken and to a lesser degree the Three Forks Coming in at 4 is Hess Corp Hess The company extracted 5 490 629 bo for the year up 1 300 759 bo compared to 2007 For the first time since the company drilled the discovery well in the Williston Basin 58 years ago Hess produced more oil from the Bakken than the Madison 2 428 465 bo or 44 of the Hess production came from the Bakken with the remaining coming from the Madison Devonian Duperow Heath Ordovician Red River Sanish Silurian Spearfish Charles Stonewall and Deadwood The bulk of Hess s production is still coming from Nesson Anticline in

    Original URL path: http://www.ndoil.org/news/industry_news/north-dakota-breaks-all-time-oil-production-record-for-2008/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    oil already exists in the Bakken Formation shale and operators can produce it using similar horizontal drilling and hydraulic fracturing technologies they use to produce natural gas from other shales There is little surface disruption and no need to heat large quantities of material to produce oil In contrast oil shales have never been subject to the temperatures and pressures needed to convert kerogen and bitumen into oil Geologists refer to this difference between oil shales and shales that can produce oil directly as thermal maturity To obtain oil from such sources operators must apply heat water and chemical diluents to convert kerogen and bitumen into oil either above ground or in situ Shell Oil Company is currently researching a method to produce liquid oil from oil shale where no mining is required by heating the oil shale within the ground at depth Ultimate Recovery from the Bakken Shale Proved reserves are only a small part of the oil that is likely to be produced from the Bakken in the future In April 2008 the United States Geological Survey USGS published a geology based probabilistic assessment of the undiscovered technically recoverable oil resources in the Bakken Formation USGS estimated that the Bakken Formation may contain from 3 1 to 4 3 billion barrels of technically recoverable crude oil with the most likely average mean being 3 65 billion barrels By comparison total U S crude oil inputs to refineries were 5 5 billion barrels in 2007 The USGS estimates like any other estimate of technically recoverable but unconventional resource may represent only a small percentage of in place resources As recovery technologies and reservoir knowledge improves the recovery factor can increase raising estimates of technically recoverable resources Residential Heating Fuel Prices Slow Their Descent Residential heating oil prices dipped lower during the period ending March 2 2009 marking their seventh consecutive week of falling The average residential heating oil price decreased 1 3 cents per gallon last week to reach 222 0 cents per gallon a drop of 133 0 cents per gallon from this same time last year Wholesale heating oil prices rose 5 8 cents per gallon to reach 135 8 cents per gallon 159 0 cents per gallon lower than the same period last year The average residential propane price sagged another 1 8 cents per gallon from last week to reach 227 4 cents per gallon This was a decrease of 33 0 cents from the 260 4 cents per gallon average for this same time last year Wholesale propane prices fell 1 3 cents per gallon dipping from 77 1 cents to 75 8 cents per gallon This was a decrease of 93 3 cents from the March 3 2008 price of 169 1 cents per gallon Diesel Prices at Lowest Point Since February 2005 Following a one week drop the national average price for regular gasoline climbed 2 5 cents to reach 193 4 cents per gallon The price was still 122 8 cents

    Original URL path: http://www.ndoil.org/news/industry_news/the-bakken-formation-helps-increase-us-proved-reserves-of-oil/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    of growth between 2005 and 2007 was exploration which increased from 1 29 billion in 2005 to 4 26 billion in 2007 231 increase The category of processing and transportation increased from 391 million to 707 million 81 increase and the category of extraction and production increased from 2 44 billion to 3 26 billion 34 increase during the same time period When the numbers are separated according to direct and indirect impacts the report shows that direct impacts increased from 1 57 billion in 2005 to 3 10 billion in 2007 98 increase The indirect impacts increased from 2 55 billion in 2005 to 5 12 billion in 2007 101 increase Direct impacts are defined as the initial or first round effects of a project program or activity Secondary economic impacts result from subsequent rounds of spending and re spending that occur within an economy The sheer magnitude of the numbers contained in this report is truly amazing said NDSU Economist Dean Bangsund one of the study s authors Our researchers have conducted numerous impact studies of other business sectors in North Dakota and we ve yet to see such phenomenal growth in jobs and expenditures in just two years The entire state benefits from the taxes generated from the growth in oil and gas activity The industry provides substantial governmental revenues through tax collections royalty revenues lease bonuses and severance taxes The study shows that the petroleum industry paid 519 8 million in state and local taxes in 2007 These taxes were used to provide property tax relief and support for a variety of programs and services including education water development and centers of excellence funding These taxes have also contributed significantly to the state s budget surplus The oil and gas industry has also brought thousands of new jobs and economic prosperity to people all across the state The report shows that the petroleum industry created nearly 2 500 new jobs between 2005 and 2007 going from a total of 5 267 to 7 719 full time employees 47 increase These jobs generated an estimated 1 46 billion in direct personal income in 2007 Furthermore the report reveals that the industry created secondary employment impacts sufficient to support 38 500 full time jobs While this study is a snapshot in time the results suggest that recent increases in exploration processing and pipeline capacity and output and increases in crude oil and natural gas production have translated into substantial increases in gross business volume for the state Technology advancements and the potential of the Bakken shale and Three Forks formations continue to drive oil development in North Dakota Maintaining North Dakota s positive business climate is important to continue to attract the capital necessary to further develop the Bakken formation said Rick Ross Vice President of Operations Whiting Oil Gas The industry is facing many challenges right now such as commodity prices pipeline capacity challenging geology and high costs of drilling While we are likely to see highs

    Original URL path: http://www.ndoil.org/news/industry_news/economic-impact-of-petroleum-industry-doubles-in-size/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    Bakken Gear Documents Al Golden Scholarship Jobs Bakken Map Conservation Bakken Crude Properties Members Become a Member Committee Sign Up Oil PAC News Clipping Service Legislative Action Center Buyer s Guide Buyer s Guide Home News Center Industry News Industry News Town Hall Meetings were a Great Success Posted 11 26 08 Wed Oil and Gas Town Hall Meetings hosted in Bowman Watford City Killdeer Tioga Stanley and New Town exceeded expectations Nearly 700 interested citizens were in attendance among the six locations These individuals were the fuel that provided questions and input to help build a better understanding of the oil and gas industry in their respective locations The Bakken area has been demanding the use of new technologies to better extract the oil and gas reserves that it holds These Town Hall Meetings allowed people with an interest in the industry s advancing technology to learn why the Bakken is such a unique area and how this technology is changing the oil and gas industry in North Dakota State and local officials were also available to discuss the economic impact the oil and gas industry has on their local communities The North Dakota Petroleum Council the North Dakota

    Original URL path: http://www.ndoil.org/news/industry_news/town-hall-meetings-were-a-great-success/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    08 Wed December 20 2007 Brian Johnson Enbridge Pipelines ND 2625 Railway Avenue Bismarck ND 58703 RE Support of increased pipeline capacity Expansion 6 Dear Mr Johnson The North Dakota Petroleum Council represents nearly 150 companies involved in all aspects of the oil and gas industry including oil and gas production refining pipeline transportation mineral leasing consulting legal work and oil field service activities in North Dakota South Dakota and the Rocky Mountain Region The Petroleum Council represents 29 of North Dakota s top 40 oil producers who account for approximately 80 of the nearly 39 million barrels of oil produced in North Dakota in 2006 The North Dakota Petroleum Council supports the proposed pipeline expansion of the Enbridge North Dakota Pipeline System Oil production in North Dakota continues to increase and it appears that the current expansion will be at capacity before the project is completed We anticipated continued growth in the state s oil production and this pipeline expansion is a critical upgrade to the infrastructure that carries the crude oil to markets outside the state The Petroleum Council encourages Enbridge and regulators to continue to implement more stringent penalties and regulations to reduce the amount of air

    Original URL path: http://www.ndoil.org/news/industry_news/support-of-increased-pipeline-capacity-expansion-6/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    day Today the state has 34 rigs drilling new wells and 3 420 operating wells producing 101 400 barrels per day Oil production in the state has not averaged more than 100 000 barrels a day since May 1998 This is good news for North Dakota The 100 000 barrel per day milestone is significant because it represents new jobs and growing economic investment says North Dakota Governor John Hoeven The Governor continued North Dakota s oil industry has added more than 1 000 direct and in direct jobs over the past two years throughout western North Dakota as a result of new oil and gas activity Job Service North Dakota still has more than 150 jobs waiting to be filled These new high paying jobs have brought new families and business opportunities into North Dakota Strong crude oil prices and new technology have generated renewed interest in North Dakota s Williston Basin in recent years and it s resulting in higher oil production We anticipate the state s oil production to stay above 100 000 barrels per day for the foreseeable future Drilling a new well today costs as much as four million dollars up nearly a million dollars

    Original URL path: http://www.ndoil.org/news/industry_news/production-tops-100000/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    Johnson Enbridge North Dakota 2625 Railway Avenue Minot ND 58703 RE Support of increased pipeline capacity Dear Mr Johnson The North Dakota Petroleum Council represents 110 companies involved in all aspects of the oil and gas industry including oil and gas production refining pipeline transportation mineral leasing consulting legal work and oil field service activities in North Dakota South Dakota and the Rocky Mountain region Petroleum Council members accounted for 78 of the nearly 36 million barrels of oil produced in North Dakota in 2005 The North Dakota Petroleum Council supports the proposed pipeline expansion of the Enbridge North Dakota Pipeline System and encourages Enbridge to evaluate the potential of reversing the Enbridge North Dakota Enbridge Saskatchewan Link to add capacity to move Williston Basin crude oil to market In addition the North Dakota Petroleum Council supports the Governor s initiative suggesting an increase in the quality restriction on the Enbridge North Dakota Pipeline System from 23 degree API gravity to at least 24 or 25 degree API gravity Implementing a higher quality restriction on the pipeline will allow more crude oil to flow through the pipeline It will also provide some assurance that if Williston Basin producers pay for

    Original URL path: http://www.ndoil.org/news/industry_news/support-of-increased-pipeline-capacity/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    Gas Town Hall Meetings Posted 11 26 08 Wed OIL AND GAS TOWN HALL MEETINGS These six meetings will provide a framework for a conversation about the oil and gas development in western North Dakota communities with local state and industry leaders Communities included in this project are Bowman Watford City Killdeer Tioga Stanley and New Town The agenda provides for 90 minutes of information between meeting participants A light meal and coffee will be available TOWN HALL MEETING SCHEDULE Tuesday February 12 2008 Watford City ND Time 12 Noon Central Time Location Outlaws Restaurant Killdeer ND Time 6 PM Mountain Time Location Buckskin Restaurant Friday February 22 2008 Bowman ND Time 12 Noon Mountain Time Location Sweetwater Golf Course Clubhouse 2 miles south one mile east of Bowman Monday February 25 2008 Tioga ND Time 12 Noon Central Time Location Farm Festival Building Hwy 40 Stanley ND Time 6 PM Central Time Location Stanley Elementary School Tuesday February 26 2008 New Town ND Time 12 Noon Central Time Location 4 Bears Casino Ballrooms AGENDA Welcome Vicky Steiner ND Association Oil and Gas Counties 5 Minutes County Payment Improvements Kelly Schmidt State Treasurer 5 Minutes Local and County Issues Brad

    Original URL path: http://www.ndoil.org/news/industry_news/oil-and-gas-town-hall-meetings/ (2016-05-01)
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