Bakken Shale in the US - Oil Shale Market Analysis and Forecasts to 2020 by rgunnam

VIEWS: 82 PAGES: 2

More Info
									Bakken Shale in the US - Oil Shale Market Analysis and Forecasts to 2020

GlobalData’s new report “Bakken Shale in the US - 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.

For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Bakken-Shale-in-the-US-Oil-
Shale-Market-Analysis-and-Forecasts-to-
2020&ReportType=Industry_Report&coreindustry=ALL&Title=Oil_~_Gas

Bakken Shale Emerging As A Major Oil Producing Area In The US
The Bakken shale has fast emerged as one of most promising oil and gas producing
areas in the US. The production from the US Bakken shale increased from 9.3 MMboe
(Million barrels of oil equivalent) in 2004 to 70.9 MMboe in 2009, at an average annual
growth rate (AAGR) of 40.6%. The production in the play is expected to continue to
increase to touch 211.4 million barrels in 2020, at an AAGR of 9.9%.

Huge Potential Attracts Greater Activity In The Bakken Shale Play
The Bakken shale play in the US has recently seen tremendous growth in the
development of oil, gas and natural gas liquids. The 2008 assessment by the United
States Geological Survey (USGS) - stating that the North Dakota and Montana Bakken
shale formation holds 3.0-4.3 billion barrels of undiscovered, technically recoverable oil
has made the shale one of the most lucrative destination for oil and gas players. Further,
in a recent study, the North Dakota Industrial Commission (NDIC) stated that the
expected ultimate recovery from the Bakken and Three Forks combined is
approximately 4 billion barrels of oil, restating the potential of the play.
With increasing crude oil prices, the oil assets have attracted increased interest from the
oil and gas companies and the Bakken shale will continue to draw increased level of
activities over the next few years. The major companies plan to drill approximately 841
gross (391.8 net) wells, investing over $2.6 billion in the play in 2010.

For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Bakken-Shale-in-the-US-Oil-
Shale-Market-Analysis-and-Forecasts-to-
2020&ReportType=Industry_Report&coreindustry=ALL&Title=Oil_~_Gas
North Dakota Experiencing A Significant Increase In Production
The increasing production from the Bakken shale has significantly increased the overall
production in North Dakota which has emerged as the fourth largest oil producer in the
US. The oil and gas production from the North Dakota Bakken shale formation increased
from 0.8 MMboe in 2004 to 55.2 MMboe in 2009 at an AAGR of approximately 84.7%.
The shale’s contribution to the overall oil production in North Dakota has also
significantly increased from 2.0% in 2004 to 58.3% in 2009.

Increased Production Mandates Development of Midstream Infrastructure
The increasing production from the Bakken shale will also lead to the increased
development of midstream infrastructure in the region. Enbridge is already looking at
options to expand the capacity of its Williston Basin Feeder pipelines by 115,000 barrels
per day. The project could cost up to $300m. In addition, the governors of North Dakota
and Montana are also trying to convince TransCanada to expand its Keystone XL
pipeline. Other midstream companies also have plans to expand the midstream
infrastructure in the region.

For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Bakken-Shale-in-the-US-Oil-
Shale-Market-Analysis-and-Forecasts-to-
2020&ReportType=Industry_Report&coreindustry=ALL&Title=Oil_~_Gas

Visit our report store: http://www.globaldata.com/reportstore

Contact Information:
Rajesh Gunnam
rgunnam@globaldata.com
+914066166782

								
To top