After less than a year of operation, the Dakota Access Pipeline is nearly full. There is more demand potential for it as the Bakken continues to expand production.
Prospects for the Bakken oil fields remain positive as 2018’s second quarter nears. As data from North Dakota’s Department of Mineral Resources indicates, an uptick in oil production could be on the horizon after a slight dip in December. This news comes as a boon to an already surging oil industry, which could be on the precipice of a record-setting year.
It has been a good year for the return of the Bakken oil fields, and 2018 promises to be even better. More importantly, the growth that is coming to North Dakota is a bit slower and steadier, suggesting it will be more broad-based and permanent.
A drilling accident last week near Quinton, Oklahoma put rig explosions in the spotlight nationwide. The accident took the lives of five workers.
There has been much talk about the Bakken’s decrease in production over the last couple of years, and just as much talk about the recent upward trends. Now, oil company executives are telling North Dakotan legislators that the Bakken is on the upswing, and there’s still more work to be done and more wells to be drilled.
The director of North Dakota’s Department of Mineral Resources, Lynn Helms, has an encouraging prediction. Namely, Helms is predicting that North Dakota’s Bakken Shale will have a 10% growth in oil and natural gas activity in the coming year, with continuing growth in the following two years, according to a recent article by NGI.
The oil and gas industry has a reputation for being dangerous. Combining heavy machinery with long hours and conditions that are difficult to predict can lead to less-than-safe situations. But what exactly do the figures say? Do they confirm this widely held assumption?
A U.S. senator from North Dakota is priming to take a big risk. John Hoeven, the senior U.S. senator from our state, is requesting a new estimate from the United States Geological Survey (USGS) for the amount of recoverable oil in the Bakken-Three Forks formation.