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Old 11-14-2011, 02:28 PM
 
20 posts, read 54,994 times
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1.Any ideas on how long the oil boom will last in the Dakotas?

2.How long has "the boom" been in affect? (when did it start?)

3.Does the winter cut down the amount of overtime available (frac; wireline; drivers) ?

4.During the winter months, does it seem as though workers leave for warmer areas of the country?

5.How long are the winter months....from when to when?

thanks in advance
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Old 11-14-2011, 02:56 PM
 
Location: North Dakota
394 posts, read 1,125,528 times
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1. If everyone knew that we would all be filthy rich. How much will a share of B of A be worth 10 years from now?

There are plenty of guesses. Most people I talk to, and read about say 20-30 years to completely develop the field. NOW that assumes no crashes like the 80's, and that is with current technologies.

2. There has been oil drilling in ND since the 50's. But the current boom has been going strong for 3 years, but especially the last 2 years, each year getting bigger.

3. Yes the cold weather cuts down on everything. If you can't see to drive it makes it difficult to get to work. I would say it cuts things down by about 30-40%.

4. Yes there will be a exodus come the first good storm, and extreme cold. There are a lot of people who will not be able to withstand it. Especially those without proper living conditions.

5. Winter can start as soon as Halloween, and go to as late as the end of April, but you will see fluctuations at the start of winter, and in the spring. The temps / weather are better in the beginning and the end of winter, with an occasional cold snap, and storm.
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Old 11-14-2011, 02:57 PM
 
581 posts, read 2,166,941 times
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Quote:
Originally Posted by Texastwin24 View Post
1.Any ideas on how long the oil boom will last in the Dakotas?

2.How long has "the boom" been in affect? (when did it start?)

3.Does the winter cut down the amount of overtime available (frac; wireline; drivers) ?

4.During the winter months, does it seem as though workers leave for warmer areas of the country?

5.How long are the winter months....from when to when?

thanks in advance

1. FOREVER - If the price of oil stays and the EPA doesn't shut down fracking this could last a while. Could be 60 years. 20+ years to drill it and 40 years of production. One thing to remember is that ND has had oil since HESS hit the Bakken well by Tioga in the early 1950's. There have been oil workers in this state since then. There was another boom in the 70's/80's but that busted because the technology was not yet here to get the field to produce. Those wells were vertical wells and not even a 50/50 chance of hitting oil. The wells now are horizontal and are fracked. 99.5% success rate.
2. Things started picking up in MT around 2000 in the Elm Coulee field. When I started in the oilpatch in 2004 there were 0 rigs in ND and 50 in MT. It really wasn't until 2008 that ND really kicked off. The past year has by far seen the most growth. 2008 had 100 rigs and $147 oil. Now there are 202 rigs and not even $100 oil.
3. No. Winter is busy. There is no mud or frost laws in effect. Probably more overtime becasue things break down when it's cold.
4. No. If they value their job.
5. Sept to May last year. This year winter is just setting in. I'd say April/May is when winter is done. It's been 20 degrees in May many times around here. Usually there is snow in NOV and it's not gone until April.


Bakken formation - Wikipedia, the free encyclopedia
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