The future of continued robust growth in railing domestic crude oil supplies has come into question following the Quebec oil tanker car derailment in July, but the transporters don’t see a slowing trend longer term.
Articles from Bakken Shale
Lightstream Resources Ltd. is expanding its well optimization budget in its Bakken Shale business unit by $25 million and is deferring some drilling activity in its Cardium Formation business unit, the Calgary-based company said.
After meeting with regional officials from the federal Bureau of Land Management (BLM) in Denver on Wednesday, North Dakota’s chief regulator for oil and natural gas production, Lynn Helms, said he is convinced that there will be BLM rules covering hydraulic fracturing (fracking) on federal lands (seeShale Daily,May 17).
Wyoming and North Dakota are stepping up statewide assessments of ways to cut down on the volumes of associated natural gas flaring at oil wellhead sites, but the economics for oil/gas operators in some cases are complicating the efforts.
Magellan Petroleum Corp. recently received permits from the U.S. Bureau of Land Management (BLM) to drill five wells on its leases at Poplar Dome in Roosevelt County, MT. The permits were the final requirement before the company can begin drilling for its CO2-enhanced oil recovery (EOR) pilot program.
Rail transport of oil is in for a long-term ride in moving burgeoning U.S. crude supplies and other liquids, according to Rick Bott, president of Oklahoma-based Continental Resources Corp., the largest producer in the Bakken Shale, where railroad shipments in recent months have accounted for more than 70% of the oil moved to market (seeShale Daily,July 11).
After capturing a healthy and growing share of Canadian natural gas consumption with shale production from the United States, exploration and production companies are poised to repeat the feat in oil markets.
At a torch-passing of sorts Wednesday, both outgoing and incoming CEOs for Marathon Oil Corp. had plenty to say about the Bakken and Eagle Ford shale plays, but new CEO Lee Tillman spoke more loudly about future opportunities during a second quarter earnings conference call in which results were said to be up sharply.