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Night view of H&P drilling the Bakken. The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of the Parshall Oil Field in 2006, and peaked in 2012, [1] [2] but with substantially less growth noted since 2015 due to a global decline in oil prices.
By the end of 2010, Bakken oil production rates had reached 458,000 barrels (72,800 m 3) per day, thereby outstripping the pipeline capacity to ship oil out of the Bakken. [131] [130] By January 2011 Bloomberg News reported that Bakken crude oil producers were using railway cars to ship oil. [130] In 2013, there were new rail shipments of WCS ...
MarEn Bakken Company LLC is an entity owned by MPLX LP (an affiliate of Marathon Petroleum) and Enbridge Energy Partners L.P. [89] Bakken Holdings Company and Phillips 66 also co-own another part of the Bakken system, the Energy Transfer Crude Oil Pipeline which runs from Patoka to storage terminals in Nederland, Texas. [7] [89]
For instance, Continental Resources, the play's leading producer, boosted its production and reserves last year by 58% and 54%, respectively, while Kodiak Oil & Gas, another major Bakken driller ...
EOG Resources (NYS: EOG) is the largest oil producer in North Dakota, with more than 49,000 barrels of oil equivalent per day as of the end of 2010. With 600,000 net acres in the Bakken shale, EOG ...
No doubt the Bakken has become a game-changer for U.S. energy production. But while the North Dakota oil boom gets referenced a lot, you may not know what's going on. Here are ten charts that tell ...
It was Bakken crude oil carried by train that caught fire in the deadly 2013 Lac-Mégantic rail disaster in Quebec. Part of the disaster at Lac-Mégantic has been blamed on the fact that much of the highly volatile Bakken oil was mislabeled as lower risk oil and was being shipped in substandard tank cars not designed to contain it. [71]
Oil production out of North Dakota's Bakken Shale continues to surge higher. The play is now expected to hit daily oil production of more than a million barrels of oil sometime early next year.