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Linn Energy, LLC (LINE) Message Board

  • rlp2451 rlp2451 Apr 29, 2013 2:50 PM Flag

    Rune Likvern Strikes Again

    New analysis posted on The Oil Drum today.

    Is the Typical NDIC Bakken Tight Oil Well a Sales Pitch?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Well.....then any good reason for this $4.4 Billion Statoil buy?

      "Tight oil reservoirs are being developed with similar methods as shale gas and liquids with long lateral wells that are hydraulically fractured, and have similar production profiles. Commercial tight oil extraction is a relatively new activity and has increased significantly the last couple of years. The oil produced from the Bakken and Three Forks formations is a light crude quality. Oil production from Brigham’s assets in Bakken has low CO2 emissions.

      Brigham has demonstrated strong operational capabilities by adapting new technology in horizontal drilling and hydraulic fracture stimulations to develop the tight oil resources in the Williston Basin. Brigham has drilled 88 consecutive producing North Dakota wells, with an average early 24 hour peak production rate of approximately 2,800 boe per day. The company currently operates 12 rigs in the area and aims to drill approximately 140 wells per year.

      “We are impressed by the performance and technological prowess demonstrated by the employees of Brigham and look forward to further responsible development of these world class assets. We will build on Brigham’s good neighbor program and continue to engage with local authorities and communities in the Williston Basin area,” says Bill Maloney, Executive Vice President for Statoil in North America.

      Statoil will continue to build upon Brigham’s operational capability, and will maintain the Austin location. Retention plans for employees are in place. Statoil will emphasize safety, efficiency and business continuity during the integration period.

      Statoil is committed to leveraging its technological competence, project execution skills and financial capability to secure continued high operational performance and value creation. The Brigham transaction also provides Statoil with approximately 430 miles (690 kilometers) of oil, natural gas and water transportation systems centrally located in the Williston Basin

    • WHO CARES!


      FIRST explain what STATOIL actually did.

      While he IS very knowledgable.

      ............until you or some else can explain why the company that he worked for for 19 years...STATOIL.....went out and did the exact opposite of what he warns about..(LOL)...

      ....and they (STATOIL) BOUGHT a BAKKEN-PURE-PLAY (BEXP), and have since TRIPPLED their OIL production in the Bakken/three seems to be JUST MORE CHATTER with maybe some added bakken data.

      Maybe you can ask him to explain that?

    • Why would any rational person be bothered with a collective which has always been wrong?

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