Page 30 North Dakota Crude Oil Prices
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November 2011 • BAKKEN BREAKOUT
US delays massive oil pipeline from Canada WASHINGTON (AP) — The Obama administration said Nov. 10 it is delaying a decision on a massive oil pipeline until it can study new potential routes that avoid environmentally sensitive areas of Nebraska, a move that likely puts off final action on the pipeline until after the 2012 election.
Jan Feb Ma Apr r Ma Jun y Source: U.S. Energy Information Administration North Dakota Wells Producing 7 Jul Aug Sept Oct Nov Dec
The announcement by the State Department means Calgary-based TransCanada Corp. will have to figure out a way to move the proposed Keystone XL pipeline around the Nebraska Sandhills region and Ogallala aquifer, which supplies water to eight states. The State Department said it will require an environmental review of the new section, which is expected to be completed in early 2013.
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President Barack Obama said the 1,700-mile pipeline could affect the health and safety of the American people as well as the environment.
“We should take the time to ensure that all questions are properly addressed and all the potential impacts are properly understood,” Obama said in a statement.
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The decision on whether to approve the $7 billion pipeline “should be guided by an open, transparent process that is informed by the best available science and the voices of the American people,” Obama said.
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TransCanada Corp. is seeking to build a 36-inch pipeline to carry oil derived from tar sands in Alberta, Canada, to refineries on the Texas Gulf Coast. The pipeline would travel through Montana, South Dakota, Nebraska, Kansas and Oklahoma before reaching Texas.
3 Jan Feb Ma Apr r Ma Jun y Source: Industrial Commission of North Dakota, Oil & Gas Division Jul Aug Sept U.S. Natural Gas Wellhead Prices
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The Keystone XL pipeline would carry as much as 700,000 barrels of oil a day, doubling the capacity of an existing pipeline operated by TransCanada in the upper Midwest. Supporters say the pipeline to Texas could significantly reduce U.S. dependence on Middle Eastern oil while providing thousands of jobs.
Special session looks at oil, public works BISMARCK (AP) — North Dakota lawmakers finished their five-day special session Nov. 11 after endorsing a package of disaster aid and money to bolster public works in the state’s western oil-producing region.
The state Senate unanimously passed Senate Bill 2371, which covers flood relief and assistance to oil-and-gas-producing counties dealing with rapid development, on Nov. 10.
SB2371 will spend nearly $158.9 million from the general fund and $215.5 million from other state funds, and authorize the spending of a potential $235 million in federal funds.
Among other things, the new law will set up a rebuilders loan program for people whose homes were damaged by flooding, provide funding for infrastructure improvements to cities and counties, add four Highway Patrol troopers for western North Dakota, give $500,000 to Minot Public Schools for infrastructure, and put an additional $30 million in the oil impact grant fund.
Jan Feb Ma Apr r Ma Jun y Source: U.S. Energy Information Administration Jul Aug Sept Oct Nov Dec
The North Dakota Senate gave final approval to two health insurance measures and a bill that provides $2 million to Williston State College for dormitory security improvements, including cameras and improved lighting.
Dollars per Thousand Cubic Feet
Number of Wells Producing in Thousands
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