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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Showing posts with label North Dakota Oil. Show all posts
Showing posts with label North Dakota Oil. Show all posts
Thursday, October 13, 2011
Tuesday, August 9, 2011
Comparing Bakken Stocks
With the advent of horizontal drilling and hydraulic fracturing, shale formations have become viable sources of oil and natural gas. In fact, they're actually some of the hottest acreage positions onshore. There's been plenty of fuss about the shales in Texas, with the Eagle Ford, Haynesville, and Barnett boasting plenty of production from many companies.
One popular shale formation outside of Texas is the Bakken, located in North Dakota, Montana, and parts of Canada. This liquids-rich shale has attracted many companies looking to capitalize on high oil prices. Along with the Eagle Ford, the Bakken has emerged as one of the best onshore oil plays.
EOG Resources(NYS:EOG) is the largest oil producer in North Dakota, with more than 49,000 barrels of oil equivalent per day as of the end of 2010. With 600,000 net acres in the Bakken shale, EOG is set to produce in this area for a long time. EOG's acreage is mainly in North Dakota, but it has some land in Montana as well. Looking forward, EOG plans to operate 10 rigs in the area in 2011.
Source: Paul Chi, Motley Fool
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