BAKKEN OIL BUSINESS JOURNAL

BakkenJournal_Feb-March17

The BAKKEN OIL BUSINESS JOURNAL is a high-gloss, full-color magazine with a targeted distribution that gets our Advertisers in front of the RIGHT EYES in this industry. Direct mailed to Companies in the Bakken with bonus distribution at Energy Shows.

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Read online @ B A K K E N O I L B I Z . C O M / d i g i t a l - j o u r n a l 31 A shameless plug for the Series M4. Visit booth 1114/1115 to see our entire line of flow control solutions for the power industry. Bray International, Inc. | 13333 Westland East Blvd. | Houston, TX 77041 1-800-800-BRAY (2729) | sales@bray.com | www.bray.com North Dakota leasing activity is limited to re- newals and top leases in the Bakken - Three Forks area. US natural gas storage is now 0.1% below the five-year average indicating some price im- provement in the future. North Dakota shallow gas exploration could be economic at future gas prices, but is not at the current price. The operator of the exploration well (file 27235) in Emmons County has cancelled all other permits in the area and is in the process of transferring the well to a working interest owner who plans a production test. The well appears to contain 2 pay sec- tions totaling about 80 feet thick with very good gas shows. The price of natural gas delivered to Northern Border at Watford City is down $0.30 to $2.70/MCF. This results in current oil to gas price ratio of 15 to 1. The percentage of gas flared decreased to 11% with Alliance Pipeline back in service. The Tioga gas plant operated at 83% of capacity. The expansion of gas gathering from south of Lake Sakakawea has now been approved with start-up anticipated in Q1 of 2017. The November Bakken capture percent- age was 90% with the daily volume of gas flared from October to November down 47 MMCFD. The historical high flared percent was 36% in 09/2011. Gas capture statis- tics are as follows: Statewide 89% Statewide Bakken 90% Non-FBIR Bakken 91% FBIR Bakken 88% Trust FBIR Bakken 87% Fee FBIR 90% 77% January 1, 2015 through March 31, 2016 80% April 1, 2016 through October 31, 2016 85% November 1, 2016 through October 31, 2018 88% November 1, 2018 through October 31, 2020 91% beginning November 1, 2020 Photo courtesy of Travis W. Cooksey. Living and working in the Bakken!

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