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  1. Tight oil expected to make up most of U.S. oil production increase through 2040

    EIA’s recently released Annual Energy Outlook 2017 (AEO2017) Reference case projects that U.S. tight oil production will increase to more than 6 million barrels per day (b/d) in the coming decade, making up most of total U.S. oil production. After 2026, tight oil production remains relatively constant through 2040 in the Reference case as tight oil development moves into less productive areas and as well productivity decreases. Side cases with different resource and technology assumptions result in different tight oil and total U.S. oil production projections. U.S. production of tight oil has increased significantly since 2010, driven by technological improvements that have reduced drilling costs and improved drilling efficiency in major shale plays such as the Bakken, Eagle Ford, and the Permian Basin. Production from tight oil plays surpassed 50% of total U.S. oil production in 2015 when tight oil production reached 4.9 million per day (b/d). Tight oil production and overall U.S. oil production are expected to increase through around 2030 in the Reference case. In the Reference case, tight oil production from the Eagle Ford and Bakken—two of the largest tight oil regions in the country—begins to decline after 2020 and 2030, respectively. Production in the Permian Basin (which includes the Austin Chalk, Spraberry, Avalon/Bone Spring, and Wolfcamp plays) remains relatively high through 2040. Compared with the Eagle Ford and Bakken, the Permian Basin has more geographic extent and contains multiple stacked plays, providing drillers with more opportunities for continued long-term development. Two side cases included in the AEO2017 analysis apply alternative assumptions regarding technological advances and resource availability, which lead to very different projections for tight oil production. In the High Oil and Gas Resource and Technology case, which uses more optimistic technology and resource assumptions, tight oil reaches 11.0 million b/d by 2035, or 66% of total U.S. production, as higher well productivity reduces development and production costs, spurring additional resource development. In the Low Oil and Gas Resource and Technology case, which applies more pessimistic technology and resource assumptions than in the Reference case, tight oil provides less than half of total oil production after 2030, and total U.S. oil production in 2040 is well below its current level. Projected oil production in the United States is also sensitive to the path of world oil prices, as shown in two other cases. In the AEO2017 High Oil Price case, where world oil prices rise rapidly and are sustained at higher levels, oil production increases to 13.0 million b/d by 2021 before declining to 10.5 million b/d by 2040. Despite reaching a higher production level faster, total cumulative production through 2040 is lower in the High Oil Price case compared with the slow but steady production increase High Oil and Gas Resource and Technology case. In the AEO2017 Low Oil Price case, sustained low prices lead oil production to fall below 8 million b/d by 2022 and to gradually decline to 7 million b/d by 2040. Principal contributors: Faouzi Aloulou, Troy Cook

    Online Articles

    Online Articles

    Tue, 14 Feb 2017

  2. Oil and Gas: Pope Francis: Native people have rights over their lands

    Pope Francis insisted Wednesday that indigenous groups must give prior consent to any economic activity affecting their ancestral lands, a view that conflicts with the Trump administration, which is pushing to build a $3.8 billion oil pipeline over opposition from American Indians.

    Online Articles

    Online Articles

    Thu, 16 Feb 2017

  3. Oil and Gas: $2.8B deal latest land acquisition in energy-rich Permian

    An Austin-based driller said this week that it's buying about 71,000 acres of land in the energy-rich Permian Basin for $2.8 billion, becoming the latest energy company to make a major investment in the region.

    Online Articles

    Online Articles

    Fri, 10 Feb 2017

  4. Resource Energy bids for Samson Bakken assets

    Resource Energy Can-Am LLC, Denver, entered a stalking-horse agreement with bankrupt Samson Resources Co., Tulsa, to buy Bakken play properties in North Dakota and Montana for $75 million.

    Online Articles

    Online Articles

    Fri, 9 Sep 2016

  1. Enbridge-Marathon venture buys interest in Bakken Pipeline

    Online Articles

    Online Articles

    Thu, 4 Aug 2016

  2. Report: Production in Bakken , Eagle Ford drops slightly in January

    Production in the Eagle Ford and Bakken shale plays dropped slightly in January vs. December 2015, according to Platts Bentek, an analytics and forecasting unit of Platts.

    Online Articles

    Online Articles

    Mon, 7 Mar 2016

  3. Marathon Petroleum to join Bakken pipeline JV

    Marathon Petroleum has agreed to participate in the formation of a joint venture to invest in the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system.

    Online Articles

    Online Articles

    Wed, 3 Aug 2016

  4. EIA: Bakken oil output to remain below 1 million b/d in August

    Crude oil production in August from the Permian and Bakken is expected to remain below the benchmarks of 2 million b/d and 1 million b/d, respectively, according to projections from the US Energy Information Administration.

    Online Articles

    Online Articles

    Mon, 18 Jul 2016

  5. EIA: Bakken oil output to fall below 1 million b/d in August

    Crude oil production in August from the Permian and Bakken are expected to drop below the benchmarks of 2 million b/d and 1 million b/d, respectively, according to projections from the US Energy Information Administration.

    Online Articles

    Online Articles

    Mon, 18 Jul 2016

  6. Paradigm closes Bakken crude oil gathering agreement with XTO

    Paradigm Energy Partners LLC’s wholly owned subsidiary, Paradigm Midstream Services – ND LLC, has executed a crude oil gathering agreement with XTO Energy Inc. for Paradigm's Charlson Gathering System in the North Dakota Bakken shale play.

    Online Articles

    Online Articles

    Wed, 24 Feb 2016

  7. Paradigm to construct Bakken gathering system

    Paradigm Energy Partners LLC’s wholly owned subsidiary, Paradigm Midstream Services – ND LLC, has finalized an agreement with an undisclosed private company to construct a new gathering system to gather crude oil in North Dakota's Bakken shale play.

    Online Articles

    Online Articles

    Wed, 9 Mar 2016

  8. Shale oil production in Bakken , Eagle Ford grew slightly in June

    Oil production from the Bakken and Eagle Ford shale plays increased marginally in June vs. May, according to Bentek Energy, an analytics and forecasting unit of Platts.

    Online Articles

    Online Articles

    Mon, 3 Aug 2015

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