Whiting Expands Bakken Position & Tests New Completion Designs in the Third Quarter

Cemented Liners & Slick Water Completion Results Looks Promising
Whiting Petroleum Bakken Acquisition Acreage Map - August 2013

Whiting Petroleum Bakken Acquisition Acreage Map – August 2013 | Click to Enlarge

Whiting Petroleum acquired additional Bakken acreage in North Dakota and Montana, and tested new completion designs in the third quarter.

Whiting is using cemented liners and higher sand volumes in the Missouri Breaks area. One well completed in August using this method and a slick water frack came online at rates approximately 75% better than an offset well.

The method was used again in the Hidden Bench area and yielded results almost 1,000 boe/d better than an offset plug and perf completion. [Read more…]

Bakken Banks See “Exceptional” Performance Compared To Other Shale Areas

Deposits Are Up More Than 50% Since 2010
Bank Deposits Rising

Bank Deposits Rising

Banks in Western North Dakota are doing better than their counterparts in other shale plays. That’s the primary discovery in a report released by the Minneapolis Federal Reserve Bank.

Bakken institutions have seen growth in deposits, construction, land development loans, and commercial & industrial loans. The same can be said for banks in Arkansas, Oklahoma, Pennsylvania, and Texas, but the increases are not as large as those experienced in the Bakken. [Read more…]

Effects Of The Bakken Felt In Great Falls, MT – Video

Wages Brought Back to Great Falls Fuel Economic Growth

The Bakken oil boom can be felt as far away as Great Falls, Montana. Wages are spent 5-7 times throughout a community and higher employment due to the oil boom is helping support the local economy.

Locals are also considering Bakken Job growth and the possibility that hiring new employees might be more difficult in the future.  It is how local companies deal with the changes that will make the biggest difference for future business.

Bakken Frack Crews are in Short Supply

Bakken Shale drilling has grown to well over 200 rigs working, but the number of hydraulic fracturing (fracking) service crews has not kept pace. The number of wells waiting to be completed in North Dakota has grown to 300 more than normal. The number is holding constant, which means we’re keeping up with the number of rigs working currently, but we won’t elimiate the backlog without additional completion crews.

If the backlog is diminished, North Dakota will continue its path of surpassing OPEC members in total daily production. The state surpassed Ecuador in November of 2011. If the state reaches 800,000 b/d it begin to challenge the ranks of the top 25 countries in the world. [Read more…]

North Dakota Rig Count Sets Record at 204 – November 2011

The North Dakota rig count reached an all time record on November 19, 2011, when the ND Oil & Gas Division announced there were 204 active rigs working in the state.

The overwhelming majority of rigs are targeting the Bakken and Three Forks formations. With oil prices holding strong and gas prices dropping through the fall, I expect we’ll potentially shoot through this record when a few gas directed rigs head our way.