by Paula Dittrick, OGJ Senior Staff Writer, OGJ, Jun 24, 2011
Unconventional oil production from the Bakken, Eagle Ford, and Niobrara plays is expected to approach 900,000 b/d in 2015 and exceed 1.3 million b/d by 2020, a consultant forecast.
Purvin & Gertz Inc. estimates current oil production from the Bakken, Eagle Ford, and Niobrara plays at 350,000-400,000 b/d.
The Bakken formation is in North Dakota and Montana, the Eagle Ford is in South Texas, and the Niobrara is in Colorado and Wyoming.
Geoff Houlton, a vice-president with Purvin & Gertz in Houston, told OGJ that shale oil production likely will help offset US oil import volumes in coming years.
Increasing supplies of light, sweet crude from shale oil plays are expected to reduce oil imports of similar quality crude into the Gulf Coast by greater than 500,000 b/d by 2016, he said.
Purvin & Gertz released its base-case forecast in a study entitled “US Midcontinent Crude Oil Market Analysis,” which examined oil logistics and pricing. [Read more]
(Current production from the Eagle Ford is roughly 100,000 barrels per day of crude oil and condensate >> OGJ, May 6, 2011 or EPP press release May 3, 2011. Also, please see my post "BENTEK: Eagle Ford Crude Oil Production Expected to Grow Fivefold in Five Years," here. For maps of the Eagle Ford shale, please see here. For the map of North American shale plays from the U.S. Energy Information Administration/EIA, including the United States, Canada and Mexico, as of May 9, 2011, please see here. Operators increased North Dakota's Bakken production from less than 3,000 barrels per day in 2005 to over 230,000 barrels per day in 2010. The Bakken's share of total North Dakota oil production rose from about 3 percent to about 75 percent over the same period. North Dakota produced an average of 307,000 barrels of crude oil per day in 2010 and comprised about 5.6 percent of the nation's total crude production. The increase in U.S. crude oil production in 2010 was led by escalating horizontal drilling programs in U.S. shale plays---please see my post "United States: Oil Production from Shale Formations, 2005-2010 -- EIA," here. UPDATE: In its Twitter post on June 25th, Platts said, "About 50,000 b/d of Bakken crude oil not being shipped out of N. Dakota due to record flooding in Minot area: state official." -- D.R.)