Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bakken Crude May Account for 15% of Domestic Output by 2015

Jan. 24 (Bloomberg) -- Crude oil from the Bakken Shale in North Dakota’s Williston Basin will help account for nearly 1.2 million barrels a day, or 15 percent, of U.S. output by 2015, analysts from Raymond James said today.

The North Dakota rig count rose to a record of 166 in December and production has tripled since 2006, according to the state Industrial Commission Department of Mineral Resources. The analysts predict that will rise to almost 200 by 2013.

“Production growth out of the Williston Basin will have considerable implications for U.S. domestic oil supply,” the analysts, including John Freeman in Houston, said in the note. “Especially in light of the de facto moratorium in the Gulf of Mexico across all water depths.”

The Bakken is the primary formation targeted by producers in the Williston Basin, which covers parts of Montana, North Dakota, South Dakota and Saskatchewan.

More efficient drilling and falling costs will help boost production further, the analysts said. North Dakota output jumped 83 percent to 329,000 barrels a day in August from two years earlier, according to the latest state-level data from the Energy Department.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.