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fuppenswein 8 posts  |  Last Activity: May 7, 2014 5:30 PM Member since: Feb 23, 2011
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  • Continental’s Role:
    Refiners have used rail to take advantage of U.S. domestic oil that was about 15 percent cheaper than imports for more than two years since the start of 2011, according to figures compiled by Bloomberg. Accessing cheaper inland supplies through rail made it more profitable to pay transportation costs that are higher than by pipeline.

    Continental Resources Inc. (CLR), the most active driller in the Bakken shale, is transporting 75 percent of its crude in rail cars, Harold Hamm, chief executive officer of the Oklahoma City-based company, said at the Houston conference. The company boosted its reliance on rail because of a lack of pipeline capacity in North Dakota, according to a U.S. filing.

    “The good thing about it is it goes to the market faster and directly where you want it and it doesn’t have to go the pipeline route,” Hamm said.

  • May 7, 2:41 PM EDT

    FEDS ISSUE EMERGENCY ORDER ON CRUDE OIL TRAINS
    BY JOAN LOWY
    ASSOCIATED PRESS

    WASHINGTON (AP) -- The Transportation Department is issuing an emergency order requiring that railroads inform state emergency management officials before moving large shipments of crude oil through their states.

    The department also is urging railroads to use the most protective type of rail tank cars to ship the oil and to avoid, when possible, using older model DOT-111 tanks cars. Those are easily punctured or ruptured in accidents, even at slow speeds.

    The emergency order follows a warning two weeks ago from outgoing National Transportation Safety Board Chairman Deborah Hersman that the department risks a "higher body count" as the result of fiery oil train accidents if it waits for new safety regulations to become

  • Reply to

    Bomb trains will ruin CLR

    by fuppenswein May 5, 2014 1:58 PM
    fuppenswein fuppenswein May 5, 2014 3:01 PM Flag

    HOw much of CLR Bakken crude is transported by bomb trains? 70%, 80%, 90%? lets get some facts

  • fuppenswein by fuppenswein May 5, 2014 1:58 PM Flag

    Bomb trains - that is what the oil trains from the Bakken is called. 92000 old out -of-date 101-wagons - bombwagons - carry the explosive Bakken crude, which is extremely explosive like gasoline due to the high content of methane and other gas liquids.

    CLR putting Americans at risk of death.

  • Derailed CSX train carried Bakken oil; over 800 bbls spilled Source: Reuters - Thu, 1 May 2014 05:32 PM
    'Author: Reuters
    By Patrick Rucker

    LYNCHBURG, Virginia, May 1 (Reuters) - The CSX Corp train that derailed and erupted in flames in Lynchburg, Virginia, was carrying crude oil from the Bakken shale in North Dakota, the kind of oil involved in several other fiery derailments over the last few months, the railroad said on Thursday.

    State emergency managers estimated that a total of 30,000 gallons (831 barrels) of crude oil had leaked into the river, creating a sheen up to 9 miles long, according to Bill Hayden, a public information officer with the Virginia Department of Environmental Quality.

    The U.S. Department of Transportation warned a few months ago that Bakken oil could be more flammable than other types of crude, and the incident is likely to add to calls for tougher regulations on the testing and transporting oil by rail, a booming business that has grown suddenly with the emergence of shale oil in placed like North Dakota.

    It was the sixth fiery derailment to occur in North America since a runaway train in Lac-Megantic, Quebec, derailed and exploded, killing 47 people last July. At least three of those involved oil from the Bakken, which is much lighter and therefore more flammable than most other

    The accident occurred on the day U.S. regulators submitted a long-stalled proposal for tougher rail car design standards to the White House for review. The measure could raise costs for shippers and may require phasing out older cars.'

    I expect CLR to increase costs for rail transportation by $5-10 per barrel of oil - a severe reduction of future profits.

  • Reply to

    Bakken Oil Train derails and burns in Virginia

    by fuppenswein Apr 30, 2014 3:53 PM
    fuppenswein fuppenswein Apr 30, 2014 4:04 PM Flag

    Multiple CSX rail cars carrying crude oil derailed, caught fire Wednesday afternoon in Virginia
    ASSOCIATED PRESS
    1:50 PM, Apr 30, 2014
    8 mins ago
    LYNCHBURG, Va. - Authorities were evacuating numerous buildings Wednesday afternoon after several CSX tanker cars carrying crude oil derailed in downtown Lynchburg, Va., and caught fire along the James River, city officials said.

    The city of Lynchburg on its website posted that the fire department was on the scene and urged motorists and pedestrians to avoid the area. It tweeted that the tanker cars were carrying crude oil and that three or four of them were breached. The city said 13 or 14 tanker cars were involved in the derailment.

    No injuries were immediately reported, the city said.

    Photos and video show several black tanker cars lying on their sides, angled off the train tracks, huge flames and massive amounts of black smoke.

    The city said on in a news release on its website that CSX officials were working to remove the portion of the train that is blocking workers from leaving Griffin Pipe Foundry located in the lower basin.

    A phone message left by The Associated Press with the Lynchburg Police Department wasn't immediately returned.

    Lynchburg is a city of about 77,000 people in the foothills of Blue Ridge Mountains. It is home to Liberty University and several others and is located about halfway between Baltimore and Charlotte, N.C.

  • Limitations on CLR oil transport pending

  • I wishCLR had bought sand mines like EOG and other Bakken companies. CLR have to put a surplus of half a million dollars for each well just for expenses for sand.

FB
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