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.

Thursday, October 13, 2011

North Dakota Bakken Shale infrastructure projects reach $3 billion mark.

About $3 billion worth of infrastructure projects are on the drawing boards in North Dakota's Bakken Shale play to monetize the natural gas produced in association with oil, which otherwise would be lost to flaring, operators and state officials said in interviews.

About 134,000 Mcf/d, or almost one third of the gas produced in North Dakota, is flared because of the lack of infrastructure to take the gas away or otherwise monetize it, Bruce Hicks, assistant director of the Oil and Gas Division of the North Dakota Industrial Commission said in an interview Monday.

Hicks said it is currently uneconomical to capture the gas produced in association with Bakken Shale oil production, given the dearth of gas-related infrastructure in the 17,000-square-mile region.



Source: Platts News

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