Here are the top five stories from Bakken.com for the week of September 27th through October 3rd. Enjoy!
5. Pickens: When we produce, we let it rip
The price of oil won’t be down for long, at least according to one wealthy expert.
As soon as December of this year, oil is predicted to be back to $70 per barrel, said T. Boone Pickens, keynote speaker at Monday’s 2015 Southeastern New Mexico Mayor’s Energy Summit.
Pickens, founder of Mesa Petroleum and current chairman of the BP Capital Management hedge fund, was welcomed by an eager audience waiting to hear the advice he had to give from many years in the business. To read the full article, click here.
4. Williston: From Boomtown to Hometown
What does a city look like when its population more than doubles in the span of five years?
It’s probably difficult to visualize a growth of that scale and momentum, but it’s a transformation city officials and residents of Williston, North Dakota have grappled with since the area’s oil “boom” six years ago.
According to Census data, Williston rose from a quiet farming community of about 15,000 in 2010 to about 25,000 in July 2014. Today, Williston Chamber of Commerce President Scott Meske estimates that about 35,000 people live in the vicinity. To read this article in full, click here.
3. The right way and wrong way to pull
Imagine this: It’s one of those cold, wet, late-fall evenings in Western North Dakota. The weather conditions are worsening, but you promised your most important client you’d make a last-minute fuel oil delivery to his rig. “Just one more and I can call it a day,” you tell yourself, relaxing to the rhythm of the rain.
Then it happens. An unexpected snow flurry obscures your vision and you slide into the muddiest part of the site, sinking even deeper as you attempt to free yourself. You reach for your cell phone when you spot the familiar headlight pattern of a fellow tanker coming off the field. You flash your high beams and he heads in your direction. Best case scenario–you have a Slingshot Kinetic Energy Recovery Rope and Soft Shackles in a dufflebag under your seat so any truck can safely help you gain momentum. To read this article in full, click here.
2. Henrikson pleads guilty in federal court
SPOKANE, Wash.— James Henrikson, who admits to ordering the deaths of two business associates tied to the oil-field business in North Dakota, faces four decades in prison after pleading guilty.
Henrikson admitted in federal court in Spokane on Friday to ordering the deaths of Kristopher Clarke and Doug Carlile. He says he employed Timothy Suckow as the hit man both times.
Federal prosecutors will seek a 40-year prison term when the 36-year-old Henrikson is sentenced in December. To read this article in full, click here.
1. Analyst: Oil prices have hit bottom, but tough times remain
Oil prices have likely already hit bottom, but it will take a year or more before they hit a comfortable range of $65 to $85 a barrel, a leading energy analyst said Tuesday in Billings.
St. Louis-based Brian Youngberg of Edward Jones said production in the Bakken shale centered in North Dakota will likely remain low for the near future, and the region still faces challenges of safely transporting oil by rail, a lack of pipelines and uncertainty from investors. To read this article in full, click here.