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Zach Koppang// Shale Plays Media

Oil price drop and its effect on the Bakken

CNBC’s Brian Sullivan reported from Williston, North Dakota, this morning to discuss falling oil prices’ effect on the area’s production companies. In two short segments Sullivan explains that it is not the price of oil itself that is the concern, but how fast it has gone down. In an interview with CNBC, Tom Powers of Texas stated that for falling prices in the Bakken area to affect producers“It would take an excess of 6 months to a year. We still have a lot of work to do out here.” He added, “The wells that have already been drilled will not be shut in.”

In related news, Lisa Ling visits oil patch in ‘Filthy Rich’ segment (VIDEO).

Sullivan also interviewed a representative from WPX Energy in Williston. The representative stated, “Margin management and cost management are going to be key for all producers.” Sullivan followed up by explaining that “Pipeline operators and drill rig operators are going to be ‘hammered’ for cost cuts. This could mean wage cuts or real-estate cuts.”

To watch the reports visit the CNBC website. “Low oil & the view from the Bakken.” “Bakken bust coming soon?”

25 comments

  1. I known my oil Ser company stocks have really drop hope they recovery

  2. Yes, they are flooding the market to drive prices down. If it goes on long enough they hope to do away with our own production of American fuel. Stand strong America. It has always been an energy war. We are getting to them by generating our own American fuel.

    Pat Riley
    Energy Warrior!!!!!

  3. And the idiots think lifting the ban on Oil Exports will help? Adding more Oil to a saturated market? Makes no sense at all….. Morons… Fricking Morons…….

  4. Store it like the farmers do with their grain. Sit on it until the price goes up. It’s as good as equity until then.

  5. I’d support a tariff on imported oil.

  6. OPEC is trying to cut out the competition, us. Those dirty sand n|&&€rs will then jack it back up when no one can do anything about these thugs action. Typical gangster fashion.

  7. The Good Lord has it all under control. Amen!

  8. We are at war with these oil thugs. Lower prices at the pump right now, is killing our chance of energy independence in the very near future.

  9. Saudi Arabia is losing at least $312,000,000 a day and while they are very rich, they can’t do it forever either. The other countries in OPEC are losing millions a day too so they are under great pressure as well.

  10. this is the first time since our well started producing that we have not recieved a royalty check…not thrilled about that!!!!!!!

  11. Don’t forget this is killing Russia’s oil production as well. They will not let this last long. You watch. It will rebound.

  12. Whatever drives prices down. Do away with borders and become citizens of the world.

  13. The new Williston ghost town

  14. Exact thing happened in the eighties, here comes 45/barrel . Look back at percentage statistics from the eighties

  15. My stocks are crashing. I should have sold this last summer when my stocks doubled.

  16. Agree Dale. Fill our reserves. Just bank it.

  17. Ruth you are intelligent. Can you control it?

  18. wouldn’t it be better to use up there oil first

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