Posted on 12/03/2012 12:03:00 PM PST by nickcarraway
A U.S. oil producer announced developments at the Bakken oil field in North Dakota and Montana could be a "game changer."
Continental Resources, a U.S. producer focused on the Northern Plains, said about 1,000 barrels of oil flowed during a one-day test at its Charlotte 3-22H well in western North Dakota. The company said it was able to exploit the reserve using a 30-stage fracture stimulation technique in the northern shale play.
Continental said the 1,280-acre suit was the first in the play to yield production from three distinct horizons in the Bakken formation.
The company in 2010 said technology then suggested Bakken could yield about 24 billion barrels of oil equivalent. New developments in the play, however, have prompted it to raise its 2010 estimate 57 percent.
"This could be a real game-changer," Harold Hamm, chairman and chief executive officer at Continental, said in a statement.
Oil production in North Dakota has increased every year for the past four years. Much of the production is from the Bakken formation. The boom has overwhelmed existing transport infrastructure, prompting some companies to look to rail for Bakken oil deliveries.
Ping.
Obozo and the EPA will kill it.
You beat me to the punch.
Yep, you can bet the EPA and the Dept of non-Energy are burning the midnight to put the kebosh to this.
They will stop this if they have to kill every last person in North Dakota.
North Dakotans can take 'em.
There are more guns than people in NoDak, and everyone (including the wives and kids) know how to use them. Nothing could move without being shot.
And that's the way we like it!
Sounds like a new drilling rig going in just over the hill from me.
How are the locals reacting? Here in Wisconsin, the frack sand mining is unbelievable - and controversial for sure.
“Nothing could move without being shot.”
Hahaha. Love it.
bttt
Private owners are OK with it since its on their properties. There was an outcry when the drill lines started coming through but those screaming the loudest were exposed as outsiders and eventually quit crying.
The rig is pretty loud but it won’t be there for more than a few days or weeks at best. I can hear it here in the house a few hundred yards away but its a steady sound so it won’t keep me awake. They started about 6 AM this morning.
This is a really bad summary of the original statement by Continental Resources. They didn't claim the oil that could be produced was raised by 57%, they said the original oil in place estimate was increased by 57%, not the same thing.
Continental estimated in late 2010 that the Bakken field would eventually yield 24 billion barrels of oil equivalent (Boe), based on technology available at that time. This estimate included 20 billion barrels of oil and 4 billion Boe of natural gas, and assumed 577 billion barrels of original oil in place in the Bakken and TF1. With the addition of oil found in the lower Three Forks benches, which includes the TF2, TF3 and TF4, the Company now estimates the field has 903 billion barrels of original oil in place, a 57 percent increase.
http://phx.corporate-ir.net/phoenix.zhtml?c=197380&p=irol-newsArticle&ID=1763542
I don’t understand.
WHY would we use our OWN supply of oil? Let’s use the rest of the worlds oil supply and save ours.
Why are we so quick to deplete our own oil supplies? I saw we should be selfish. Use the worlds resources and save ours. That makes sense to me.
Meant to say
I say we should be
Never underestimate the technical ignorance and lack of arithmetic skills of the “real” news reporters employed by the State-run Media.
This is 'news' because it can be used to discredit the secession petitioners. Life just keeps getting better with the parasites in charge.
My contrarian view of this is that Obama plans to grow the government and the welfare state SO large and SO rapidly, he is absolutely going to need the additional revenue from this.
Enviros, prepare to meet the underside of the bus.
Patriots need to start reconnecting with the federal government's constitutionlly limited powers to put a stop to Obama's Constitution-ignoring socialistic agenda. Given that Congress has no Section 8, Article I power to regulate intrastate resources, Obama cannot sign into law any bill from Congress to regulate intrastate oil drilling imo.
Note that where the Commerce Clause (1.8.3) is concerned, using terms like "does not extend" and "exclusively," Thomas Jefferson had clarified that Congress has no business sticking its big nose into intrastate commerce; FDR's activist justices got the Commerce Clause wrong in Wickard v. Filburn.
“For the power given to Congress by the Constitution does not extend to the internal regulation of the commerce of a State, (that is to say of the commerce between citizen and citizen,) which remain exclusively (emphases added) with its own legislature; but to its external commerce only, that is to say, its commerce with another State, or with foreign nations, or with the Indian tribes.” –Thomas Jefferson, Jefferson’s Opinion on the Constitutionality of a National Bank : 1791.
Also, the Founding States made Sections 1-3 of Article I of the Constitution to clarify that all federal government legislative powers are vested in the elected members of Congress, not rogue federal agencies like the EPA. In other words, Congress has a monopoly on federal legislative powers whether it wants it or not. And Congress can't regulate the environment because the states have never delegated to Congress via the Constitution the specific power to regulate the environment.
So please tell me what I'm overlooking concerning constitutionally indefensible involvement by Obama and the constitutionally undefined EPA in North Dakota oil drilling.
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