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Bakken Shale, 2011 - Oil Shale Market Analysis and Forecasts to 2020
The report also provides historical production in the Bakken shale (Montana and North Dakota) and the expected forecast production in the shale play to 2020
Bakken shale production from North Dakota accounts for nearly 88% of the total production from the Bakken Shale play in the US and has significantly outpaced the production from the adjoining state of Montana during 2010-2011. In North Dakota, the production from the Bakken play increased substantially from 49.5 MMboe to 85.6 MMboe at a growth rate of 72.8% during 2009-2010. The oil and gas production from the North Dakota Bakken shale formation increased from 30.3 MMboe in 2008 to 96.4 MMboe in 2010 at a CAGR of approximately 78.1%. Therefore, oil produced from the North Dakota state has contributed greatly to the overall production from the Bakken shale play in the US.
Major oil and gas companies such as Continental Resources have been undertaking activities to increase their production with the help of improved infrastructure and developmental facilities in the Bakken shale during 2010-2011.
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These producing companies have worked with many of the large pipeline companies to address the need for transiting the crude extracted from the producing wells to the end-user markets. Large transportation pipeline companies such as Enbridge Pipelines and BakkenLink Pipeline are evaluating the possibility of transporting crude from the Bakken oil play in the Williston Basin in Montana and North Dakota to a wide range of refinery markets in the US. The Enbridge Bakken pipeline project, or the “Bakken Pipeline Expansion Project: Berthold to Cromer,” promises to deliver 145,000bbl/d of crude oil from the Bakken shale to various refineries in North Dakota. The expansion project may further support the transport of crude oil from the Bakken shale at a rate of 325,000bbl/d. The whole expansion program is expected to be completed by January 2013. Similar projects in the Bakken shale play are expected to increase the productivity of the shale in future.
“Bakken Shale, 2011 - Oil Shale Market Analysis and Forecasts to 2020” analyzes the recent activities in the Bakken shale play in the US. The report details the initial production rates, number of wells drilled and cost per well in the Bakken shale formation. The report also provides historical production in the Bakken shale (Montana and North Dakota) and the expected forecast production in the shale play to 2020. The report details the major players in the play in terms of both acreage position and production and also details activities of top five companies operating in the Bakken shale. Major infrastructure developments and merger and acquisition activities in the shale are also discussed.
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