GasBuddy News Article

votes

Rig count reflects oil boom in North Dakota

BT -- North Dakota topped the century mark in the number of active oil rigs this week for the first time since February 1982.

There were 102 active rigs as of Wednesday. The state is still below the all-time high of 146 rigs that came in October 1981, said Ron Ness, president of the North Dakota Petroleum Council. Ness said the numbers are a positive for the future of the North Dakota oil industry.

Ness said improvements in technology have allowed rigs to be more productive and efficient with the advent of horizontal drilling. “That’s the real story,” he said. Ness said that one of today’s rigs is able to do the same amount of drilling as eight older rigs in about one-third of the time.

Ness said there are roughly 4,500 producing oil wells in the state with about 1,000 new wells that ca

Read the Full Article

Submitted Mar 11, 2010 By: stpetebp

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: Rig count reflects oil boom in North Dakota	Post a Reply Back to Topics

REPLIES (newest first)

First

Next Last

honda0105 Champion Author Tallahassee Posts:10,805 Points:634,325 Joined:Nov 2008	Message Posted: Mar 12, 2010 9:39:09 PM Ignore honda0105 Report Abuse only way to get off oil (and we need to in order to cut foreign dependency) is to reduce, reuse, recycle, conserve and find viable alternative sources of energy that we can produce domestically.
honda0105 Champion Author Tallahassee Posts:10,805 Points:634,325 Joined:Nov 2008	Message Posted: Mar 12, 2010 9:37:20 PM Ignore honda0105 Report Abuse spaceace: domestic oil can't even provide 2% of the daily consumption of oil in this country.
SpaceAce5 Veteran Author South Dakota Posts:300 Points:66,245 Joined:Feb 2010	Message Posted: Mar 11, 2010 1:49:33 PM Ignore SpaceAce5 Report Abuse drill, drill, drill. more domestic, less foreign
sdslim All-Star Author Florida Posts:815 Points:925,685 Joined:Feb 2007	Message Posted: Mar 11, 2010 11:31:48 AM Ignore sdslim Report Abuse One reason for low unemployment in ND.
davidel57 Champion Author Houston Posts:2,246 Points:441,890 Joined:Apr 2008	Message Posted: Mar 11, 2010 10:59:48 AM Ignore davidel57 Report Abuse drill here...drill now!
MUSTANGSRUS Champion Author Ontario Posts:4,753 Points:1,003,095 Joined:Sep 2006	Message Posted: Mar 11, 2010 9:44:13 AM Ignore MUSTANGSRUS Report Abuse Sounds like a viable plan. Now what is needed is more rigs in other states to drill.
remay Champion Author Houston Posts:2,247 Points:1,158,890 Joined:May 2006	Message Posted: Mar 11, 2010 9:15:59 AM Ignore remay Report Abuse Good for ND and the companies tapping the resources there ...
SUV2009 Champion Author Orlando Posts:1,142 Points:268,015 Joined:Oct 2009	Message Posted: Mar 11, 2010 8:41:06 AM Ignore SUV2009 Report Abuse I agree with Clermont40miles "Great news. Domestic production. Imagine that! We need to see much more of it. This poor mouth nonsense that the US does not have reserves is a ploy of the greenie EcoNutz. /redundant Release the land the feds have tied up out west. Fully 90% of Nevada is owned by the US govt. 75% of Alaska owned by the US govt. In total 650 million acres (10,390,625 square miles) are owned by the US govt. And most of it is in resource rich land. Locking up our resources to create a crisis. Sound familiar? It is the same mentality (/lack thereof) that prevents drilling in ANWR. EcoNutz will not be happy until all mankind is eradicated. I say, them first. "
Buck_on_Bass Champion Author Tennessee Posts:2,811 Points:601,830 Joined:Jul 2007	Message Posted: Mar 11, 2010 8:32:43 AM Ignore Buck_on_Bass Report Abuse Joeski1 has a good grasp of North Dakota oil production. No one will drill and produce oil to lose money.
Gassed01 Champion Author Toronto Posts:1,761 Points:853,550 Joined:Jan 2006	Message Posted: Mar 11, 2010 8:24:53 AM Ignore Gassed01 Report Abuse Good to see this. I understand the same trend is happening in eastern Saskatchewan and western Manitoba. Anyone know for sure?
patward99 Rookie Author Pennsylvania Posts:40 Points:268,475 Joined:May 2008	Message Posted: Mar 11, 2010 8:23:54 AM Ignore patward99 Report Abuse Great for the short term. What happens after 15 years? Another bust and ghost town.
MacGyver_1701 Champion Author Indiana Posts:6,834 Points:1,576,350 Joined:Feb 2005	Message Posted: Mar 11, 2010 8:21:35 AM Ignore MacGyver_1701 Report Abuse There is sufficient OIL in the US for the US. Alternatives are the long run solution, but capacity is the short term.
DieselKat Champion Author Tennessee Posts:1,724 Points:1,415,510 Joined:Oct 2005	Message Posted: Mar 11, 2010 8:18:40 AM Ignore DieselKat Report Abuse I'l bet this makes the you know who mad.
lkozark Champion Author Missouri Posts:2,363 Points:563,285 Joined:Jul 2007	Message Posted: Mar 11, 2010 8:18:12 AM Ignore lkozark Report Abuse Another local resource sold on the open market.
FocusGuy Champion Author Seattle Posts:2,126 Points:459,325 Joined:Apr 2009	Message Posted: Mar 11, 2010 8:15:34 AM Ignore FocusGuy Report Abuse NoDak go go go
cv Champion Author Raleigh Posts:10,269 Points:2,293,080 Joined:Oct 2003	Message Posted: Mar 11, 2010 8:14:42 AM Ignore cv Report Abuse Perhaps this is a small way in showing self reliance in our own resources.
SaltyDogMA Champion Author Massachusetts Posts:1,558 Points:448,395 Joined:May 2008	Message Posted: Mar 11, 2010 8:12:17 AM Ignore SaltyDogMA Report Abuse Good for North Dakota. Wish more states would follow this lead.
sienko Champion Author New Hampshire Posts:7,677 Points:1,381,320 Joined:Feb 2006	Message Posted: Mar 11, 2010 8:12:14 AM Ignore sienko Report Abuse Actually, pumping more oil does have an effect on prices--increasing supply tends to decrease prices for the same demand. It's basic economics.
clermont40miles Champion Author Cincinnati Posts:4,766 Points:808,620 Joined:Apr 2008	Message Posted: Mar 11, 2010 8:12:07 AM Ignore clermont40miles Report Abuse Great news. Domestic production. Imagine that! We need to see much more of it. This poor mouth nonsense that the US does not have reserves is a ploy of the greenie EcoNutz. /redundant Release the land the feds have tied up out west. Fully 90% of Nevada is owned by the US govt. 75% of Alaska owned by the US govt. In total 650 million acres (10,390,625 square miles) are owned by the US govt. And most of it is in resource rich land. Locking up our resources to create a crisis. Sound familiar? It is the same mentality (/lack thereof) that prevents drilling in ANWR. EcoNutz will not be happy until all mankind is eradicated. I say, them first.
throttle Champion Author Maryland Posts:7,882 Points:1,656,680 Joined:Jul 2004	Message Posted: Mar 11, 2010 8:11:33 AM Ignore throttle Report Abuse Every little bit helps.
tomok Champion Author Portland Posts:18,347 Points:1,371,035 Joined:Aug 2006	Message Posted: Mar 11, 2010 8:11:30 AM Ignore tomok Report Abuse Fuel prices up, the Rig count reflects oil boom in North Dakota. Drill for oil in the US and try to keep some of that oil money in the US too.
Tnerbeel Champion Author Houston Posts:3,762 Points:779,560 Joined:Mar 2007	Message Posted: Mar 11, 2010 8:10:58 AM Ignore Tnerbeel Report Abuse Glad to hear it.
gman65 Champion Author Houston Posts:7,355 Points:1,206,320 Joined:Aug 2005	Message Posted: Mar 11, 2010 8:08:03 AM Ignore gman65 Report Abuse Way to go NORTH DAKTOTA, my birth state!
Cruiser340 Champion Author Grand Rapids Posts:7,555 Points:1,819,960 Joined:May 2004	Message Posted: Mar 11, 2010 8:07:54 AM Ignore Cruiser340 Report Abuse I hope it's staying home and not being exported.
TAT36 Champion Author Florida Posts:1,825 Points:348,410 Joined:Sep 2009	Message Posted: Mar 11, 2010 8:07:22 AM Ignore TAT36 Report Abuse Better technology, greener rigs, sounds like greenies have died and gone to heaven.
FuelOilOH Champion Author Cleveland Posts:1,120 Points:575,570 Joined:Oct 2007	Message Posted: Mar 11, 2010 8:07:02 AM Ignore FuelOilOH Report Abuse West Virginia has a lot of wells also. Most of them are capped until it becomes profitable to produce.
SpruceGuse2 Champion Author Michigan Posts:4,903 Points:1,494,640 Joined:Mar 2006	Message Posted: Mar 11, 2010 8:06:27 AM Ignore SpruceGuse2 Report Abuse Just because we are pumping more oil does not mean that prices will come down, it has no weight on the market.
PENNYPINCHR Champion Author Twin Cities Posts:2,557 Points:1,680,925 Joined:Jul 2001	Message Posted: Mar 11, 2010 8:05:21 AM Ignore PENNYPINCHR Report Abuse Maybe were just using other countries oil and when this gets depleted we will start drilling and using our own. Or maybe were so indebted to these other countries that they really own the US and force us to keep buying their oil.
mysub Champion Author Las Vegas Posts:4,328 Points:1,367,640 Joined:Apr 2006	Message Posted: Mar 11, 2010 8:05:00 AM Ignore mysub Report Abuse I recently seen an article that told about the biggest oil deposits in the world being in the western United States
toyrunner300 Champion Author Calgary Posts:2,145 Points:1,007,435 Joined:Jan 2007	Message Posted: Mar 11, 2010 8:04:45 AM Ignore toyrunner300 Report Abuse Joeski1 got it, he is 100% right!
DustyHorse Champion Author Virginia Posts:1,557 Points:511,590 Joined:Oct 2008	Message Posted: Mar 11, 2010 8:04:12 AM Ignore DustyHorse Report Abuse The speculators will find a way to use this information to raise fuel prices.
dan30thz28 Champion Author New Jersey Posts:1,287 Points:1,058,325 Joined:Feb 2006	Message Posted: Mar 11, 2010 8:03:30 AM Ignore dan30thz28 Report Abuse We need more oil to lower the price. A few more rigs won't do anything for the price.
TomT2Lee Champion Author Cincinnati Posts:3,470 Points:1,091,790 Joined:Sep 2005	Message Posted: Mar 11, 2010 8:02:17 AM Ignore TomT2Lee Report Abuse Great, more mindless chanting. To bad this drilling does not increase oil production in the US enough to really matter. It has never been said there is no more oil to be found in the US. What is accurate is that the overall oil production in the US is declining and nothing will change that.
ironbox_sara Champion Author Albany Posts:4,726 Points:1,298,150 Joined:Mar 2006	Message Posted: Mar 11, 2010 8:01:47 AM Ignore ironbox_sara Report Abuse Good for them. Drill, drill, drill. To hell with the KOOKS.
mpskek Champion Author Madison Posts:7,660 Points:1,344,980 Joined:Aug 2006	Message Posted: Mar 11, 2010 8:00:39 AM Ignore mpskek Report Abuse Nope, I didn't think so. Drilling won't give us the oil.
Spetsnaz Champion Author Dayton Posts:1,515 Points:537,315 Joined:May 2006	Message Posted: Mar 11, 2010 7:59:29 AM Ignore Spetsnaz Report Abuse We have oil too but we still buy from the other countries. Strange.
Digger5 Veteran Author Milwaukee Posts:328 Points:965,125 Joined:Jun 2004	Message Posted: Mar 11, 2010 7:56:53 AM Ignore Digger5 Report Abuse Drill baby, drill!!!
Cuzilla Champion Author Indianapolis Posts:8,829 Points:1,553,365 Joined:Sep 2005	Message Posted: Mar 11, 2010 7:56:21 AM Ignore Cuzilla Report Abuse Drill baby drill!
traindude Champion Author Virginia Beach Posts:3,336 Points:786,270 Joined:Jun 2007	Message Posted: Mar 11, 2010 7:54:46 AM Ignore traindude Report Abuse that's great! now drop my pump price
heysailor Champion Author Pittsburgh Posts:4,675 Points:1,360,795 Joined:Mar 2006	Message Posted: Mar 11, 2010 7:54:28 AM Ignore heysailor Report Abuse Let's not ruin the state while they're at it.
torch347 All-Star Author Indianapolis Posts:577 Points:477,985 Joined:Jul 2007	Message Posted: Mar 11, 2010 7:53:40 AM Ignore torch347 Report Abuse If we keep this up maybe we can stop the import of oil and the dollar can increase.
Joeski1 Champion Author New Jersey Posts:3,846 Points:767,380 Joined:Dec 2004	Message Posted: Mar 11, 2010 7:52:42 AM Ignore Joeski1 Report Abuse more rigs are working because the crude price is higher.... thus more profit can be made... this has nothing to do with national service, patriotism, or benevolence toward the consumer... this is called capitalism... no profit.. no production... can't force oil companies to suck oil out of the ground here if there is no profit regardless of how much oil in the ground there is.. cut back!!! get a more efficient ride. [Edited by: Joeski1 at 3/11/2010 7:53:27 AM EST]
BM4225 Champion Author Atlanta Posts:5,486 Points:1,179,285 Joined:Aug 2006	Message Posted: Mar 11, 2010 7:50:56 AM Ignore BM4225 Report Abuse Good, less imports, a stronger dollar. Now if we could only bring back some of the manufacturing.
zornave Champion Author Louisville Posts:13,888 Points:2,204,560 Joined:Jul 2001	Message Posted: Mar 11, 2010 7:48:06 AM Ignore zornave Report Abuse More domestic drilling!
goalie1950 Champion Author Phoenix Posts:1,635 Points:328,350 Joined:Oct 2009	Message Posted: Mar 11, 2010 7:47:27 AM Ignore goalie1950 Report Abuse Makes you wonder why the price of oil continues to rise in spite of the advances in technology. Greed seems to be the driving force.
ronsimonil All-Star Author Illinois Posts:718 Points:152,595 Joined:Mar 2009	Message Posted: Mar 11, 2010 7:47:24 AM Ignore ronsimonil Report Abuse This is a big boon to North dakota. It should be a big help to us too, but it doesn't seem to be working that way.
mk9999 Champion Author Rochester Posts:2,987 Points:698,170 Joined:Aug 2008	Message Posted: Mar 11, 2010 7:46:38 AM Ignore mk9999 Report Abuse Drill more, NOW.
thedennis64 Champion Author Ohio Posts:1,015 Points:783,370 Joined:Aug 2003	Message Posted: Mar 11, 2010 7:45:35 AM Ignore thedennis64 Report Abuse Drill here, drill now, drill often.
rsm315 All-Star Author Detroit Posts:850 Points:221,480 Joined:Dec 2009	Message Posted: Mar 11, 2010 7:45:19 AM Ignore rsm315 Report Abuse thats what we need american oil
Skipper52 Champion Author Massachusetts Posts:2,566 Points:635,875 Joined:Oct 2008	Message Posted: Mar 11, 2010 7:42:42 AM Ignore Skipper52 Report Abuse Isn't the advance of technology great. More oil in less time with less wells. But the price is still high. You have to wounder why. [Edited by: Skipper52 at 3/11/2010 7:43:13 AM EST]