Tag Archives: Bakken oil production

Bakken Oil Production Hits 1 Billion Barrels

Bakken Oil ProductionCumulative Bakken oil production has reached one billion barrels, according to recently released data.

The data, by IHS, a global information company, revealed that the Bakken oil field found in North Dakota and Montana reached the one-billion-barrel milestone of light, sweet crude oil during the first quarter of 2014.

Much of the oil taken from the Bakken play has been produced recently. In fact, two-thirds of the cumulative Bakken oil production was reached in the last three years, according to Jack Stark, the senior vice president of exploration for Continental Resources, the largest leaseholder and producer in the Bakken oil shale region.

“This milestone validates the immense potential of the Bakken field and development is just beginning,” Stark said in a news release.

The Bakken oil field appears to be the largest oil field discovered in the world in the last 40 years. The discovery and production of oil fields like the Bakken has been driven in many respects by the emergence of horizontal drilling technology.

“As a result, the need for pipeline protection has never been greater,” said Chris Sheldon, utilities practice lead for MATCOR, a Pennsylvania-based company that specializes in cathodic protection products and corrosion engineering services for oil and gas pipelines and other infrastructure industries.

“With all of the horizontal drilling and the massive production coming from plays like the Bakken oil field, pipeline integrity management has never been more important,” Sheldon said. “These pipelines represent a huge investment by producers, who need to protect that investment from corrosion.”

“Oil producers in the Bakken oil field and plays all over the world look to MATCOR to provide the best-in-class cathodic protection and corrosion engineering to secure all their pipeline investments for years to come,” Sheldon said.

Bakken Field Produces First Billion Barrels of Oil,” press release, April 28, 2014.

About MATCOR

MATCOR is a full-service, ISO 9001:2008 certified provider of customized cathodic protection systems to the oil & gas, power, water/wastewater, and other infrastructures industries. Cathodic protection is a technique used to control the corrosion of a metal surface through the application of electric current. MATCOR has an array of proprietary cathodic protection products and systems combined with high-quality corrosion engineering, installation and maintenance services.

In business for almost 40 years, MATCOR is considered the technology leader in cathodic protection and corrosion engineering. MATCOR is headquartered in Chalfont, PA, has a service office in Houston, TX, provides turnkey services throughout the United States and has a growing list of international distributors. MATCOR has been named to the Inc. 5000 list of fastest growing companies in 2011, 2012 and 2013.

Bakken Oil Production Boom Could Result in Greater Cathodic Protection Needs

Bakken Oil ProductionAfter eight years of extensive oil exploration to define the Bakken formation boundaries, oil production companies are ramping up drilling operations to “harvest” the Bakken oil formation.

There are currently more than 10,000 producing wells in North Dakota, with the majority in the Bakken region. The expansion of oil production has grown at an exponential rate and the area will soon be producing 1 million barrels a day.

While there’s currently a well located on nearly all of 8,000 spacing units, there remains plenty of opportunity to increase well density in the region. In 2013, the permit applications were limited to four wells on a single 1,280 acre unit, but the maximum is expected to increase from eight to 20 wells per unit, depending on the local geology.

As oil companies drilling in the Bakken formation continue to increase well density, the region could see another phase of this oil boom.

“The Bakken area has enjoyed great success over the last decade, and with more opportunities for companies drilling in the Bakken oil field, it’s vital that they protect their assets,” said Glenn Shreffler, executive vice president, engineering at MATCOR.

“Protecting future investments from the devastation caused by the corrosion of pipelines and storage tanks is paramount as the Bakken region continues to see expansion of oil production,” said Shreffler. “Cathodic protection is among the most cost effective means and efficient ways to halt corrosion activity.”

In business for almost 40 years, MATCOR specializes in providing customized corrosion engineering and cathodic protection systems to oil and gas industries nationwide.

Oil lands claimed, the focus shifts now to ‘harvesting it,” The Bismarck Tribune, February 25, 2014.