On March 1, 2017, petroleum geologist Art Berman wrote, “It’s the beginning of the end for the Bakken Shale play.”
Berman gives several reasons why the Bakken oil fields will never return to its former glory. Here are the highlights:
- A decline in production that began January 2015. Berman says its “probably not reversible.
- New well performance has deteriorated.
- Gas-oil ratios have increased and water cuts are rising.
- Reservoir energy from gas expansion is depleted, and decline rates will likely accelerate.
“Oil reserves for 2012 wells averaged 343,000 barrels but only 229,000 barrels for 2015 wells–a 33% decrease in well performance.”
Be sure to read Berman’s entire article and see the graphs to illustrate his points at Forbes.com.