WSJ outlining the Bakken Boom

Posted by bakkenexpert

There is a good article and video in the Wall Street Journal Online about the Bakken oil boom.    There are some telling statistics about how the bakken region has brought economic prosperity to North Dakota and the companies operating in the region.

• The Bakken Shale had helped North Dakota oil production double in the past three years, surging to 80 million barrels in 2009
• Booming Bakken oil production has helped North Dakota escape the worst of the economic downturn. The state’s unemployment rate was 4.3% in December—more than five percentage points below the national level—and the state government projects a surplus for the current budget cycle.
• There are many operators who can acheived profitability with $50 a barrel oil,  down from $80 three years ago.    The improved drilling economics means that companies can expand their footprint with faster ROI in the region.

Below is the video:

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