“It’s the perfect storm here for drillers, Keith. Not a dry hole in sight.”
That’s how I was greeted by an old friend as I stepped onto the rig last week.
I’ve heard these same words time and again since my first visit to the Bakken. And I can’t blame my friend for his rosy outlook…
The rig he runs happens to be in one of the hottest oil fields in the United States.
Two Reasons to Remain Bullish
As well as things are going for my buddy up in the Bakken, things are about to get even bigger there.
Growth is coming — and all we have to do is look to the United States Geological Survey for affirmation.
Last May, Secretary of the Interior Ken Salazar announced the USGS will be updating their 2008 Bakken assessment.
Just how important is this update and these new oil fields?
Remember that not every well is a gusher.
In fact, the opposite is true more often than not when it comes to our domestic production…
These “non-gusher” wells are known as stripper wells — and most people don’t realize how much we count on them.
click chart to enlarge
Simply put, a stripper well is an oil well that produces fewer than 10 bbls/day — or a natural gas well that produces fewer than 60 Mcf/d.
Together, they account for nearly 15% of our oil supply and 8% of our gas production.
As you can see above, approximately 80% of our producing wells in the United States are classified as stripper wells, giving new meaning to the phrase “scraping the bottom of the barrel.”
Good thing there’s one sure way we can stay ahead of the game…
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Mass Migration
The exodus to these shale plays has already begun, and North Dakota is just one example to follow.
That much should be evident from the mass of people heading to the state in droves — tens of thousands making their way there, each one looking to cash in.
There’s a reason unemployment is under 1% in the heart of the formation…
According to the Bureau of Economic Analysis, per capita personal incomes in Billings County, North Dakota, jumped by 46.8% between 2009 and 2010.
But you don’t need to pitch a tent in North Dakota to grab your own piece of the Bakken pie…
20 Billion Reasons to Invest in the Bakken
There’s something for everyone in the Bakken.
Over the last few weeks, we’ve seen infrastructure investments that are building the pipes and railways that will carry the high-quality crude to market, some of which are offering the safest annual dividends available.
And no matter how bullish we are on these long-term plays, there’s one group in particular that will always have a place in our portfolio…
Those companies that are driving the unconventional oil boom taking place today. They’re responsible for running the 2,000 drilling rigs across North America, increasing production every quarter.
When the USGS announced they’re going back to Bakken to reassess the amount of undiscovered, technically-recoverable oil and gas available, the opportunity was clear…
Remember, their 2008 survey propelled the shale play into the national spotlight.
Just imagine the profits the next round of USGS projections will bring.
Back in 2008, the USGS was calling for 4.3 billion barrels in the area — but some oilmen have projected that number to be closer to 20 billion.
Five years ago, I told my readers the Bakken play was just beginning.
After we banked our first triple-digit winners a year later, many newer investors felt as if they’d missed the boat…
To that, I say prepare for Act Two.
Until next time,
Keith Kohl
Check us out on YouTube!A true insider in the technology and energy markets, Keith’s research has helped everyday investors capitalize from the rapid adoption of new technology trends and energy transitions. Keith connects with hundreds of thousands of readers as the Managing Editor of Energy & Capital, as well as the investment director of Angel Publishing’s Energy Investor and Technology and Opportunity.
For nearly two decades, Keith has been providing in-depth coverage of the hottest investment trends before they go mainstream — from the shale oil and gas boom in the United States to the red-hot EV revolution currently underway. Keith and his readers have banked hundreds of winning trades on the 5G rollout and on key advancements in robotics and AI technology.
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