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Deep freeze disrupts crude flows in oil sands and Bakken shale
Deep freeze disrupts crude flows in oil sands and Bakken shale A deep-freeze in Canada and Northern U.S. is disrupting oil flows, causing a surge in crude prices just as American stockpiles are declining. With temperatures from North Dakota to Northern Alberta below zero Fahrenheit (-18 Celsius), TC Energy Corp.’s Keystone pipeline was shut on […]
Oil Price War Claims Another Victim
Oil Price War Claims Another Victim The oil price war has already claimed its first victim. Whiting Petroleum Corp. (NYSE: WLL), once the largest oil and gas producer in North Dakota’s Bakken Shale, has filed for Chapter 11 bankruptcy becoming the first major shale producer to do so in the current year. Whiting has cited the “severe […]
The Bakken Hit A New Record In 2018, But It’s A Bad Sign For The Industry
The Bakken Hit A New Record In 2018, But It’s A Bad Sign For The Industry The insanity continues in the United States second largest shale oil field as the fundamental economics go from bad to worse. While it is true that the shale industry doesn’t look as dire as it did back in 2016 […]
Energy Transfer, Banks Lost Billions by Ignoring Early Dakota Access Pipeline Concerns
Energy Transfer, Banks Lost Billions by Ignoring Early Dakota Access Pipeline Concerns Roughly four years ago, Energy Transfer Partners (ETP) filed a federal application to build a 1,172 mile oil pipeline from North Dakota’s Bakken shale across the U.S. to Illinois at a projected cost of $3.8 billion. Before that application was filed, on September 30, 2014, […]
Why Investors Should Beware Of The Bakken
Why Investors Should Beware Of The Bakken It’s the beginning of the end for the Bakken Shale play. The decline in Bakken oil production that started in January 2015 is probably not reversible. New well performance has deteriorated, gas-oil ratios have increased and water cuts are rising. Much of the reservoir energy from gas expansion […]
Fracking Fraud
Fracking Fraud Photo by Jacques del Conte. Hucksters for high volume hydraulic fracturing with horizontal drilling, the intensely industrial process by which x percent of natural gas and oil are mined in the United States today, loudly tout multiple benefits of the practice. Fracking reduces dependence on imports of crude oil. It generates jobs, profits […]
Bakken Decline Rates Worrying For Drillers
Bakken Decline Rates Worrying For Drillers I have been supplied an Excel spreadsheet of all North Dakota wells back to 2006, thanks to Enno Peters and Dennis Coyne. I only used the data back to 2007 however. This is a wealth of information if we want to know how many wells came on line in […]
North Dakota county feels Bakken boom ebb away as oil falls
North Dakota county feels Bakken boom ebb away as oil falls (Reuters) – Just over a decade ago, this sleepy farming community on the fringe of North Dakota’s Bakken shale formation hosted the state’s first horizontal oil well to be hydraulically fractured, or fracked, helping set in motion an economic revolution that shook the world. […]
Bakken, Let’s Do The Math
Bakken, Let’s Do The Math There has been considerable dispute over how many new wells required to keep production flat in the Bakken and Eagle Ford. One college professor posted, over on Seeking Alpha, figures that it would take 114 rigs in the Bakken and 175 in Eagle Ford to keep production flat. He bases his […]
Peak Oil Review – 25 December 2014
Peak Oil Review – 25 December 2014. Mid-Week Update Oil futures have been volatile this week, swinging $1-2 a barrel on the latest news. New York crude closed Wednesday at $55.84 a barrel and London at $60.24, about where they have been for the last ten days. This week the up swings came from better […]
Bakken New Wells Producing Less Confirmed – Peak Oil BarrelPeak Oil Barrel
Bakken New Wells Producing Less Confirmed – Peak Oil BarrelPeak Oil Barrel. It is has now been confirmed. The first measured 24 hour production from Bakken wells is a very good predictor of the future production of that well. And it has also been confirmed that new wells with higher well numbers are producing a […]
Guest Post: Calculating The Breakeven Price For The Median Bakken Shale Well | Zero Hedge
Guest Post: Calculating The Breakeven Price For The Median Bakken Shale Well | Zero Hedge. A lot of data has been thrown around recently concerning the Bakken shale wells of North Dakota in an attempt to figure out the necessary oil price required to break even on the investment. In order to get a clearer […]
