Kyle Meintzer Financial Advice
North Dakota Oil Strike
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Contributors to this thread:
RUPE 11-Apr-08
blue wolf 11-Apr-08
RUPE 11-Apr-08
Sixby 11-Apr-08
K.Cummings 11-Apr-08
Boots 11-Apr-08
JTV 11-Apr-08
gadan 11-Apr-08
JTV 11-Apr-08
blue wolf 11-Apr-08
blue wolf 11-Apr-08
Driver 11-Apr-08
Two Feathers 11-Apr-08
Frank Booth 11-Apr-08
JTV 11-Apr-08
gflight 11-Apr-08
JTV 11-Apr-08
Norseman 11-Apr-08
From: RUPE
11-Apr-08
Watch out, Texas! Get back California, Louisiana and Alaska! North Dakota and Montana are on track to knock all of you off your high horses as the oil capital of the United States.

According to a government report published today that has stunned the energy biz, a thin layer of rock known as the Bakken Shale, located a couple of miles under the Badlands, holds up 4.3 billion barrels of recoverable oil, making it the single largest oil reservoir that federal scientists have ever assessed.

At today’s price of $110 per barrel, that puts the value at $475 billion, give or take a few bill, or more than enough to make people think ND stands for North Dallas. Or maybe that’s New Dhabi.

The U.S. Geological Survey only assessed the Bakken Shale in U.S. boundaries, so the full extent of the find, which stretches north into the Canadian provinces of Saskatchewan and Manitoba, will ultimately be larger. Already the estimate for “technically recoverable” oil – or that which is exploitable using current technology -- is 25 times higher than the last time the USGS surveyed the area, in 1995.

Around 105 million barrels of oil had been produced from the Bakken through the end of 2007, so the idea that energy producers may get 40 times that amount has brought a lot of attention to the area’s top drillers and leaseholders. Investors pushed stocks like EOG Resources and Continental Resources to all-time highs in the past two weeks in anticipation of the report’s publication.

The USGS said in in its press release that its new Bakken estimate is larger than all of its other oil assessments of the lower 48 states and is the largest "continuous" oil accumulation it has ever assessed. It said a "continuous" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest continuous oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an estimate of 1 billion barrels of technically recoverable oil.

Government geologists said they worked with North Dakota Geological Survey, a number of petroleum industry companies and independents, universities and other experts on the project.

From: blue wolf
11-Apr-08

blue wolf's Link
Good news....

here's a link for a little more from Minot Daily News.....

From: RUPE
11-Apr-08
"Watch Dick Cheney purchase North Dakota in the coming days."

I have to admit that was funny!

From: Sixby
11-Apr-08
Yup Rupe it really was.

From: K.Cummings
11-Apr-08
I just saw on CNN that GWB just declared war on ND. All American troops will be "re-deployed" from Iraq to ND immediately.

After all, all "Bush wars" are "all about oil."

Nancy Pelosi has vehemently spoken out against this action, stating that ND insurgents would surely retaliate against any occupation by US troops in ND.

Pelosi has also threaghtened to cut all funding for this "redeployment" stating that "although we fully support our troops, we will NOT now, nor will we EVER take part in any attempt by the Bush administration to reduce our dependency on foreign oil."

:>)

KPC

From: Boots
11-Apr-08
Global warming means North Dakota is going to be the future Miami Beach.

Cant drill there.

OTOH, if Obama somehow won, he will be under pressure to drill off Florida and Anwar.

Damned if ya do and damned if ya dont!

From: JTV
11-Apr-08
Now GET AT IT !!!! Start Drillin' ......Jeff

From: gadan
11-Apr-08
I'm with Bowclan...some environmentalist wacko is gonna shut it down. They have more environmental lobbyists in DC than cherry trees.

From: JTV
11-Apr-08
And that enviro wacko is going to be a DEMOCRAT ......Jeff

From: blue wolf
11-Apr-08
Soooooo...

Rupe posts some POSITIVE ENERGY NEWS...

Thread turns into usual bunch of old WOMEN pizzin and moanin.....bunch of sharp tongued old dried up biddies is all you all are....

Whine and snivel......cry..cry..bitch..bitch....topping each other with all bad crap.......

Never anything positive...NEGATIVITY....

Ain't no wonder why so many former posters are gone..or post only rarely.....

Sorry bunch you all have turned into for sure........

Or maybe you were born that way...

In today's modern urban society....I think it's possible for many to go from cradle to grave without ever being tested...or attaining manhood.......

carping..whining bunch of women...with few exceptions.....

From: blue wolf
11-Apr-08

blue wolf's embedded Photo
blue wolf's embedded Photo

From: Driver
11-Apr-08
Fairly old news.The Bakken formation is very thin so they drill down to it and turn the drillstem horizontal and drill a mile or so. They've been doing this for years. Bakken crude is a really cool looking oil when it comes out of the ground it almost looks like you could put it in your engine as compaired to most crude that's heavy black thick stuff. They're drilling for it as fast as they can get rigs. Anyone want a job? I think worms corner is starting out at about $22-$25 hour.

From: Two Feathers
11-Apr-08
So how do we get all this oil refined? I thought refining was still a problem here in the USA.

From: Frank Booth
11-Apr-08
Driver- does that translate into more gas per gallon of oil extracted?

From: JTV
11-Apr-08
Refining is still a problem.....held back by the environmentalist left.....Jeff

From: gflight
11-Apr-08
We don't run the refineries we have near to capacity. No point building more if you don't use them.

From: JTV
11-Apr-08
The Dem's wont let the refineries expand(new jobs included), such as at the Amoco Refinery in Hammond,In......Jeff

From: Norseman
11-Apr-08
I was just out there this week in the Sydney Mt, Watford City, Kildeer ND area. There are big drill rigs going up everywhere. There is really not much in that area of NW North Dakota. I am sure it will be a big shot in the arm for the local town economies.

The good thing is that most of the area is private ranching so there is no "environmental resource" type areas where the Greenies can get up in arms about.

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