Right here in America there is a modern day oil & gas boom. Using a geology-based assessment methodology, the U.S. Geological Survey estimated mean undiscovered volumes of 3.65 billion barrels of oil, 1.85 trillion cubic feet of associated/dissolved natural gas, and 148 million barrels of natural gas liquids in the Bakken Shale Formation of the Williston Basin Province, Montana and North Dakota.

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Wednesday, September 14, 2011

Bakken oil shipping to get boost from rail terminal



NEW YORK, Sept 7 (Reuters) - Kansas-based Lario Logistics said it will open a 100,000 barrel-per-day crude-by-rail terminal in North Dakota's Bakken Shale oil area this month, a move that will boost the region's capacity to ship crude on railways by about 75 percent.
Lario's terminal, known as the Bakken Oil Express (BOE) and located near Dickinson, North Dakota, will serve oil shippers including the Wyoming-based True Companies, which hold oil and gas stakes in several North American regions, BOE managing director Steve Magness said in an interview on Wednesday.
"As production grows, rail is a medium and even long-term solution to get crude out of the area," Magness said.
North Dakota oil production has tripled in four years, reaching 380,000 bpd in June.  

Source: Reuters 
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