Page 20 ■ Thursday, March 1, 2012
OF LOCAL NEWS AND INFORMATION.
The Bismarck Tribune and
are your #1 sources for local news and information. As we continue to evolve and grow, we look forward to engaging with our audience in every way we can – in print, online, mobile, tablet, classifieds, niche products and more. As the BT Media group, we are proud to be your source for all of these powerful and emerging marketing opportunities.
NATION & WORLD
Permian Basin of West Texas seeing oil boom like Bakken
DALLAS (AP) — The Permian Ba-
sin of West Texas is experiencing an oil boom, leading some of the region’s top oilmen to predict that Texas oil pro- duction will double within fi ve to seven years.
Oil drillers over the last eight years
have found that the dense oil rock of the basin surrounding Midland and Odessa responds well to hydraulic frac- turing, releasing lush yields. Total oil production last year in Texas averaged more than 1 million barrels per day for the fi rst time since 2001. “Right in the basin, we could get up
Call 250-8 210 or 1-888-557-2250
to 2 million barrels a day,” Jim Henry of Midland-based Henry Resources told The Dallas Morning News for an article in its Sunday’s edition. “I’ve been totally surprised by the amount of oil we’re fi nding out in the shale zones,” Scott Sheffi eld, chairman and chief executive of Irving-based Pi- oneer Natural Resources Co., told the newspaper.
“We have 30 billion barrels of new
oil discoveries,” said Tim Leach, chair- man and CEO of Midland-based Con- cho Resources. “It can be hard to get your mind around that. The cloud on the horizon is the per-
sistent drought that has gripped the region. Hydraulic fracturing, or “frack- ing,” requires massive amounts of wa- ter to pump into the ground under high pressure. Drillers also worry about the pros-
pect of tax increases and limits placed on land use by the presence of such endangered species as the dunes sage- brush lizard. But as long as crude oil prices re-
main high, around $100 per barrel, drilling will remain profi table. Similar booms are under way in the
Eagle Ford Shale of South Texas and the Bakken Shale of North Dakota and Montana. Production also is climb- ing rapidly in western Alberta Canada, which is now the largest source of U.S.
Lots Available Now in Sidney, Fairview & Watford City For Immediate Occupancy!
oil imports. “I could paint a scenario for you
where we are producing 3 million more barrels per day by 2016, which would almost get us to the point where we could eliminate 60 to 70 percent of our OPEC imports,” Texas Railroad Com- missioner Barry Smitherman told The News. “With that greater control over our own energy security, we could care less about what happens in the Strait of Hormuz.” The narrow straight between the
United Arab Emirates and Iran is considered strategically vulnerable to blockade by Iran’s revolutionary re- gime.
The United States still imports 45
percent of the 19 million barrels of pe- troleum that it consumes, but that is a sharp reduction, according to the U.S. Energy Information Administration. In 2005, about two-thirds of all liquid fuels the United States consumed was imported.
New Land Home Packages Available In Dickinson
Tape & Texture • Appliances $84,900
Single & Double Wide Homes At Competitive Prices!
Contact Kerry, Scott or Jill 1506 2nd St. W., Williston • 701-572-1526 Fly Ash
Bakken Environmental’s Fly Ash is 100% approved by North Dakota Dept. of Health and Waste Management for use in oil & gas operations
All cuttings and drying products delivered no charge in Eastern Montana and North Dakota.
First Response Hazmat Service...No
Spill too Large or too Small. 406-633-0034 • 701-580-1877
| Page 2
| Page 3
| Page 4
| Page 5
| Page 6
| Page 7
| Page 8
| Page 9
| Page 10
| Page 11
| Page 12
| Page 13
| Page 14
| Page 15
| Page 16
| Page 17
| Page 18
| Page 19
| Page 20
| Page 21
| Page 22
| Page 23
| Page 24