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A billion barrels and counting

May 1, 2014

One billion barrels recovered, how many more billion to go? Data released this week from oil companies drilling in the Bakken formation in North Dakota and Montana shows that the formation has......

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(17)

PoeticJustice16

May-04-14 12:55 PM

Biz-Trib

April 30, 2014

________________

A 20-year-old man died on a Continental Resources well site Monday.

Zach Buckles, an employee of Black Gold Testing, was found unresponsive on the well pad site 5 miles south of Williston, said Occupational Safety and Health Administration Area Director Eric Brooks. He was pronounced dead on the scene.

Black Gold Testing is a sub-contractor for Continental Resources. Buckles was working the overnight shift at the well site. He had been checking the gauges on oil and gas tanks on the site, Brooks said.

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PoeticJustice16

May-04-14 12:19 PM

(AP)

_____________________

Luke Allen, who moved to Watford City last summer, finds the pioneer spirit exhilarating.

"No matter what hour of the day, or day of the week, I can see the semis rolling. It's exciting to me. I can just feel it in the air. It's like that show 'Deadwood,' a bunch of guys in the Wild West, but it's people driving cars instead of riding horses."

willistonherald . com / news / the-promise-the-growing-pains-of-a-boomtown / article_1d84631c-d303-11e3-9322-0019bb2963f4 . html

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PoeticJustice16

May-04-14 11:11 AM

For the TeaPubs, this issue is Black and White. Pretty much every issue is.

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MyBadHairDayIsObamasFault

May-03-14 10:57 PM

"spill baby spill"

That's Obama's fault.

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MyBadHairDayIsObamasFault

May-03-14 10:57 PM

"Thanks, Big Oil."

Thanks, Obama. It's all his fault.

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PoeticJustice16

May-03-14 9:18 PM

Thanks, Big Oil.

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EarlyBird

May-03-14 6:51 AM

They need to start drilling more private interests and less state and fed interests. Get the money to the private sector so the state don't throw it down the drain in the stock market. One big tumble in the stock market and our billions of dollars of money from oil is gone. How ya like that, just like the last down turn the market took the Federal government had to prop the market back up to get peoples retirement funds back.

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wally1

May-03-14 1:12 AM

Myself I think our officials are only looking at money and status without the consequences #%$*s in my opinion

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MyBadHairDayIsObamasFault

May-02-14 10:08 PM

"Pipeline: Spill baby Spill

Oil tanker: Burn baby Burn

Sheeple: Learn babies Learn"

I forgot to mention, it's Obamas fault.

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MyBadHairDayIsObamasFault

May-02-14 10:00 PM

"Drill Baby Drill"

Pipeline: Spill baby Spill

Oil tanker: Burn baby Burn

Sheeple: Learn babies Learn

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FreedomRings

May-02-14 1:52 PM

My previous response was aimed at garr's latest addition here. Was sent to cyberspace it appears.

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FreedomRings

May-02-14 12:05 PM

Lord, you created this resource but why do you hate us so?

Drill Baby Drill

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EarlyBird

May-01-14 3:22 PM

The company organized by issuing stock in exchange for properties held by the Rican Corporation, United Properties Incorporated, Northwest Investment Company, and Leach and Kelsch. Both the Rican Corporation and United Properties, Inc., were founded in 1951. Leach and Kelsch, as a joint company and as individuals, acquired their holdings from 1936 to 1952. Three of the founders of North American Royalties—Thomas W. Leach, Frances Leach, and J.M. Kelsch—controlled more than 35 percent of the common stock at its issue in 1953. The company’s headquarters was in Bismarck, North Dakota.

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EarlyBird

May-01-14 3:21 PM

North American Royalties was founded in 1952 to invest in oil and mineral resource royalties. North American Royalties began operation at the end of the oil-wildcatting era, as independent oil operators declined during the 1950s and the industry consolidated under a few large operators. The company succeeded in this environment by expanding its interests nationally and by acquiring new royalty rights over land, which exist in perpetuity.

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EarlyBird

May-01-14 3:03 PM

Actually a Geologist named Thomas Witt Leach convinced Amerada to drill the Nesson anticline and they hit the Iverson #1 well. I knew Mr and Mrs Leach quite well, they were/are very generous people.

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muleskinner

May-01-14 8:36 AM

The global oil total daily demand is 88 million barrels. It doesn't stop.

A billion barrels of oil is 12 days of supply. It is gone, burned and used.

It has been 7 years now the Bakken has been drilled more than ever and finally 1 billion barrels.

7 years of production to meet 12 days of worldwide demand.

It is a chimera, not the answer for peak oil. Only wishful thinking, but it will work for a while, I suppose.

The only answer is to reduce consumption and maintain current inventories to meet supply and demand while reducing consumption incrementally. 20 oil wells pumping 50,000 barrels per day is what is needed, not 10,000 wells pumping 100 barrels per day. It will have to happen to prevent upheaval.

Rationing of oil will happen in the future.

A billion barrels is a large number, but not nearly enough.

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EarlyBird

May-01-14 8:04 AM

A billion barrels closer to the old broken down ND economy we all know and grew to love. Drill baby drill!!

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