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To: thackney

Based on what my customer near Williston has stated the huge boom has slowed down from what it was a year or two ago. You can actually drive into Williston now without it taking all day to go 20 miles. It may have to do with the fact that people have found employment back where they originally came from. However, he said the biggest thing is they do not have any place to put the new oil after they get it out of the ground. There is only so much storage capacity, pipeline capacity, or the speed at which a tanker car can be loaded. Therefore, why drill more holes in the ground, it will just flood the market even more.


2 posted on 12/23/2013 6:14:06 AM PST by woodbutcher1963
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To: woodbutcher1963
The growth in the oil production rate does not seem to be slowing down.

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4 posted on 12/23/2013 6:19:09 AM PST by thackney (life is fragile, handle with prayer)
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To: woodbutcher1963
Well, there are 189 rigs drilling today. While that isn't as many as a couple of years ago (218), keep in mind that these rigs are constructed to walk from wellhead to wellhead on a multiwell pad. Not only does that save time and money, more wells are drilled more quickly with fewer rigs.

Williston shunted a lot of the heavy truck traffic around town to the west, and that has freed up the highways in town considerably.

As far as storage, pipeline, tanker capacity, it grows to fill the need, and North Dakota is producing more oil than ever.

If the market was flooded, we wouldn't still be drilling. There are likely another 20 years of development drilling in the Bakken and Three Forks alone, and those are just two of the oil bearing formations in the Williston Basin.

16 posted on 12/23/2013 1:22:04 PM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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