Frac jobs waiting to be done reach 500 in Bakken. Good news for TPLM subsiiary "Rockpile." Maybe they reach full use of two units quickly and value of Rockpile grows even faster than predicted.
"In nine months, oil production in the Bakken rose by 100,000 barrels per day. But it could hit another milestone a lot sooner because of the way drilling and fracking is going in North Dakota.
May was another record breaking month for the Bakken oil play as oil production hit an all time high of 810,000 barrels per day. "It is exciting to break the 800,000 barrel a day barrier," said Department of Mineral Resources Director Lynn Helms.
Helms says drilling rigs are doing an outstanding job of drilling quickly. But the list continues growing to 500 wells waiting to be fracked.
Helms commenting on the number of wells to be drilled - huge demand for RockPile................
April 22, 2013 2:00 am • Tribune editorial
As the weather warms, the rig count in western North Dakota will begin to climb again. Department of Mineral Resources Director Lynn Helms says he has signed 530 orders for multi-well drilling pads, and another 334 are close to being approved. That translates to nearly 6,000 additional wells in the next three years — more than are currently producing in the state — and a huge bump up in production.
I look forward to hearing the sound of the cash register ringing big time for TPLM over the
next several years!!! I would not be surprised to see RockPile eventually spun off as a
gift to TPLM shareholders given it's current revenue & management team.