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New USGS oil and gas assessment for Bakken and Three Forks formations boosts estimates of recoverable oil two-fold, natural gas three-fold

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The United States Geological Survey (USGS) released an updated oil and gas resource assessment for the Bakken Formation and a new assessment for the Three Forks Formation in North Dakota, South Dakota and Montana, resulting in a two-fold increase in the estimated technically recoverable oil, and a three-fold increase in estimated natural gas.

Oil 257
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BNSF expands Bakken oil rail transport capacity to 1M barrels per day; overcoming shortage of pipeline capacity

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BNSF Railway (BNSF) has increased capacity in 2012 to enable the railroad to haul one million barrels of oil per day out of the Williston Basin in North Dakota and Montana. One million barrels of oil per day would represent about 16-17 unit trains of 100 tanker cars each (60,000 barrels per train). Earlier post.).

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.

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Saskatchewan and Montana Partner on Major Carbon Capture and Storage Project

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Saskatchewan Premier Brad Wall signed a Memorandum of Understanding with Montana Governor Brian Schweitzer to work together on the development of one of the largest international carbon capture and storage demonstration projects to date. The estimated of the total cost of the project in Canadian dollars is $270 million (US$231 million).

Montana 150
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Calumet’s Montana Renewables became the largest SAF producer in North America in Q2

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reported that ramp-up of unit operations was completed during the second quarter, making its Montana Renewables subsidiary the largest producer of sustainable aviation fuel (SAF) in North America (approximately 30 million gallons per year). The Great Falls refinery in Montana produces both SAF and RD using Topsoe HydroFlex technology.

Montana 150
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USGS to update Bakken Formation oil assessment based on new geological information; potential for greater recovery

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The US Geological Survey will update its 2008 estimate of undiscovered, technically recoverable oil and gas in the US portion of the Bakken Formation, an important domestic petroleum resource located in North Dakota and Montana. — Secretary of the Interior Ken Salazar. Source: USGS. Click to enlarge. billion barrels.

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Quantum Energy and Bilfinger Westcon partner to develop multiple refineries in the North Dakota-Montana Bakken formation

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The design plan includes the capturing the CO 2 released form the facilities for use in Enhanced Oil Recovery (EOR) throughout the Bakken. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution. Bilfinger Westcon Inc. Bilfinger Westcon Inc.