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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Nicholas Thompson who wrote (9047)	3/17/2008 12:54:07 AM
From: nspolar	Respond to of 33421

"is there really any truth to it?" Read all the posts, do some searches and read all the news. And above all read between the lines. Think about what you read, carefully. Personally, I think there is likely 'some' truth to it. Some w/r to the fact there may be a lot of oil there, and even 'recoverable' oil. But again I doubt The Bakken trend will ever produce anywhere near the daily amount required to generate oil independence within the US, which would currently be on the order of 10 MBPOD or so. That is one hell of a lot of oil. Even in Saudi type fields the amount of capital investment required to attain that is quite large. In a Bakken type of formation it is about beyond belief, even given present technology. To understand all of this it is beneficial to have some oil patch expertise and knowledge, on the down hole side of things. Supplying that is beyond the scope of this board. The oil patch is littered with big hopes that never came to pass. There is one tight hole type field up here on the North Slope, wherein BP invested a sizeable amount of money, and projected fairly decent production rates. Never happened. Produced for a bit then quickly petered out. A BP development called Badami, so far to my knowledge a waste of capital. I am not directly involved in the down hole end of the business, but do know a bit about it. I did read a few articles about The Bakken, from the down hole side. Appeared to me there is one big natural problem, that is always difficult to over come, and that is lack of reservoir permeability. All the same it appears many fortunes are being made in The Bakken trend these days. Only been through that part of the country once, in late fall, just before winter set in. Was doing some work in the oil patch none the less. I liked it there, was nice in its own way. Later. TF