Bigger, Better, Bakken: Petroleum Industry Optimism In North Dakota

With exports from the Bakken formation centered on western North Dakota already heading to Asian and European markets, the future for North American shale and onshore production, for at least the next two decades, appears promising.

In order to meet that growth in energy demand from onshore and offshore investments, approximately $580 billion per year—more than $12 trillion in total—would be required, according to the IEA.

For Hess, Biggs said, applying “lean capabilities” and having the ability to ramp production up from 130,000 barrels per day to as much as 200,000 bpd would take additional infrastructure by 2021.

 

 

 

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Source: Fair Field Sun Times

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