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Linn Energy, LLC (LINE) Message Board

  • sandonthebeach47 sandonthebeach47 Nov 12, 2012 8:38 PM Flag

    Drilling the size of West Virginia

    How big is it?

    From NPR:

    "The Bakken oil field is one of the biggest energy plays in American history. The formation is the size of West Virginia, covering one-third of North Dakota. There are 201 drilling rigs here punching holes in the earth, more than anywhere in the U.S. other than Texas.

    Lynn Helms, the director of North Dakota's Department of Mineral Resources, is a slight man with a graying beard who obviously enjoys talking about the Bakken boom. He says he expects the rig count to reach 225 by year's end."

    "We are planning over the next two decades to drill and hydraulically fracture every square mile of that area. - Lynn Helms, director of North Dakota's Department of Mineral Resources"

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    • LOL.. The Marcellus covers the ENTIRE STATE of West Virgina, half of Ohio, and over half of Pennsylvania. Does size matter? I guess it does to some people.

      • 3 Replies to rlp2451
      • So?

        While this is correct:
        "The Marcellus covers the ENTIRE STATE of West Virgina, half of Ohio, and over half of Pennsylvania."....and you left out part of NY...
        It is NOT relevant BECAUSE that is NOT the area to be drilled, but is only the area in which the formation exists.

        Every square mile the size of those combined states is NOT going to be drilled.

        The Marcellus is spread out and does not have the activity of the Bakken, is mostly natural gas and not oil like the Bakken, and does not have even half of the number of layers of oil (or gas) bearing zones as in the Williston basin/ bakken/Three forks/ multiple benches of the three forks has.

        Those states are just an area that the Marcellus formation (and Utica) covers.

        The bakken is being developed so that the area is going to be DRILLED to a size of an area equal to the 40th state in the USA by land area....the size of West Virginia.

        That is pretty hard to imagine....especially for some.

        Try and understand the comment this time by Lynn Helms:

        "We are planning over the next two decades to drill and hydraulically fracture every square mile of that area. - Lynn Helms, director of North Dakota's Department of Mineral Resources"

        Try to focus on this:
        "every square mile of that area."

        That is not what is going on in the Marcellus.

        From NPR:

        "The Bakken oil field is one of the biggest energy plays in American history. The formation is the size of West Virginia, covering one-third of North Dakota. There are 201 drilling rigs here punching holes in the earth, more than anywhere in the U.S. other than Texas.

        Lynn Helms, the director of North Dakota's Department of Mineral Resources, is a slight man with a graying beard who obviously enjoys talking about the Bakken boom. He says he expects the rig count to reach 225 by year's end."

        "We are planning over the next two decades to drill and hydraulically fracture every square mile of that area. - Lynn Helms, director of North Dakota's Department of Mineral Resources"

        Sentiment: Strong Buy

      • what is this a civil war between marcellus and the bakken. Who really cares as long as they keep producing for the country.

      • Density – Mental bout physical in your case.

        Bakken is a layer cake and no one is sure they have the final count.

    • Hi Sand,

      Obama and the Progressives have a track record of being petty and vindictive. Something to keep in mind about domestic oil.

      Obama has dramatic cut permits and increased regulation to drill of Federal or the peoples lands.

      Obama does get away with say one thing while do the other because our press is clearly in the main dishonored.

      Energy: The Government Accountability Office tells Congress the Green River Formation out West contains an "amount about equal to the entire world's proven oil reserves." So why are we keeping it locked up on federal lands?
      Exploding the Big Lie pushed by President Obama that we can't drill our way out of high gas prices because we have but 2% of the world's proven oil reserves, Anu Mittal, GAO director of natural resources and environment, testified before Congress last week that just one small part of the U.S. is capable of outproducing the rest of the planet.

      .

      • 2 Replies to norrishappy
      • norris,
        But since you mentioned Green River,
        I think you may see some increased interest and maybe some development there also.

        There is such a boom in North Dakota, it seems that there will be faster development in other areas also.

        "This was interesting:
        'Green River Formation contains 3 trillion barrels of oil
        By Mark Wilcox

        May 15, 2012 --
        An auditor told Congress last week that the Green River Formation in Wyoming, Utah and Colorado contains about as much oil as the "entire world's proven reserves," making it the "world's largest deposits of oil shale."

        The formation is largely — about 75 percent — on federal Bureau of Land Management lands in the states, making it possible for the government to extract funding from the shale formation almost as well as the companies that may extract the oil.

        Anu Mittal, director of natural resources for the federal General Accounting Office, said the U.S. Geological Survey estimates 3 trillion barrels of oil in the 1,000-foot sedimentary rock formations under the three states. She said about half of the payload should be technically recoverable, "depending on available technology and economic conditions."

        The standard royalty rate for a company to extract oil on federal lands amounts to 12.5 percent, and has been in place since the 1920s, according to Secretary of the Interior Ken Salazar, who said he is studying how to up that royalty in the future.

        Assuming static prices of oil and equal distribution of recoverable shale, at about $100 per barrel, extraction of 75 percent of 1.5 trillion barrels of oil would net more than $14 trillion for the federal government, or about $2 trillion shy of the national debt...."

        Sentiment: Strong Buy

      • Oil and petroleum imports have fallen an average of more than 1.5 million barrels per day and domestic crude oil production has increased by an average of more than 720,000 barrels per day since 2008. As domestic drilling has expanded so has the number of oil and gas production jobs. According to the Federal Reserve Bank of St. Louis, job growth in these industries has risen 25% since January 2010.

        Now this is just cude oil and not NG. You won't be happy till there is a rig in everyones backyard.

 
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