Bakken oil formation

LarryO1970 · 04-28-2008, 12:39 PM

Guys ... is this legit? If so, who is gonna be pulling this out of the ground?

Is there an investment potential here?

jimkim · 04-28-2008, 01:25 PM

I take it you are referring to the "new" report where they re-re-anounced(two re's) the "new" find. From what I've read it is legit, however, the only way they can afford to extract the oil and still make a profit is if oil prices stay high. I cant find the original info on the process. To read more I would look at Rockies Region Dominates US in Giant Field discoveries - 3-Jun-03: Bulletin On-Line Oil and Gas article: contact M. Ray Thomasson . That was the first I had heard or it. I had heard the company that developed the new process for extracting the oil was being "harassed " by our legislative branch. It seems that they were going to try and step up production and make a profit.

nathangdad · 04-28-2008, 01:55 PM

The United States Geologic Survey (USGS) classifies the Bakken field
as "technologically recoverable". Basically, this means is can be done
but major questions arise as to how economically it can be done.
This is particularly true of the Montana/North Dakota sands.

Beware of those who claim to have a "new process" or "new technology" to get the oil as some of them are seeking investment on fraudulent pretext. If you are approached in this manner demand to see all the legal documentation relating to the investment. Read the fine print. One big clue will be if you are investing in the trial production of their equipment with no guarentee it will work in the field. Always check for their escape clauses. Have an attorney read the fine print if you are in doubt.
If they have been granted a patent it will be listed on the U.S. Patent Office Website where you can read and obtain a copy of it. If it says "Patent Pending" they do not yet have a U.S. Patent and may or may not have one awarded by the U.S. Patent Office.

Only invest if you have done your homework and truly believe in that which you invest. Do not invest money you cannot afford to lose.

jimkim · 04-28-2008, 02:15 PM

I don't know about all that. We may not be looking at the same technology. I was referring to the technology that they are using in Saskatchewan.

TXplt · 04-28-2008, 03:38 PM

Quote:

Originally Posted by jimkim

I don't know about all that. We may not be looking at the same technology. I was referring to the technology that they are using in Saskatchewan.

Familiar with this; Tar sands. It seems to work, but uses significant energy to liberate the oil. I believe they're burning coal or natural gas to liberate the oil (think it's coal...).

Maybe better just to burn the coal we have here in coal fired power plants, then build electric cars (or use the energy to split water into Hydrogen and Oxygen, and use H powered fuel cell cars). We've lots of coal here, and have the technology to extract the Particulates, metals, and NOx and SO2 (which are the real polluters) from the effluent (there was a process that turned this into marketable Nitric and Sulfuric acid; unfortunately, the company was grossly mismanaged and went bankrupt. Lost a little cash in this promising technology, but not too much

Technology was there, though).

Cyrano · 04-28-2008, 05:07 PM

Could we liberate the oil from the sand by heating it in a solar furnace like that one the French have, that can focus bright sunlight fine enough to cut through steel plates?

nathangdad · 04-28-2008, 05:44 PM

It actually could work to heat materials with sunlight to pump into the
sand stata. However, it would take a massive investment to set up the amount of heating necessary to make it work. Superheating
vast quantities of water to steam then pumping steam into sand or shale will liberate oil.

As with so many things, the startup costs are so phenominal it often does not get done.

In a somewhat related thought, you may be aware of technology used in Greenland where wells are drilled to great depths, water is pumped down, steam comes up, and heat/power generation occurs. Once again you have the cost of drilling to the depth necessary in this oil deposit to superheat water to steam. Naturally, it will be a greater depth than Greenland.

So, this oil may or may not be a recoverable asset in our lifetime.

publius · 04-28-2008, 08:23 PM

It's not that complicated, they've been pumping oil out of this region for 55 years.

04-28-2008, 12:39 PM	#1
LarryO1970 "Blazing Saddles" GOV Join Date: Jan 2008 Location: Johnson Creek, WI Posts: 3,950	Bakken oil formation Guys ... is this legit? If so, who is gonna be pulling this out of the ground? Is there an investment potential here? __________________ If anybody asks, it must have been the "trigger actuator nut".....

04-28-2008, 01:25 PM	#2
jimkim Senior Member Join Date: Mar 2008 Location: Near the Little Ocmulgee river in GA Posts: 2,322 Blog Entries: 15	I take it you are referring to the "new" report where they re-re-anounced(two re's) the "new" find. From what I've read it is legit, however, the only way they can afford to extract the oil and still make a profit is if oil prices stay high. I cant find the original info on the process. To read more I would look at Rockies Region Dominates US in Giant Field discoveries - 3-Jun-03: Bulletin On-Line Oil and Gas article: contact M. Ray Thomasson . That was the first I had heard or it. I had heard the company that developed the new process for extracting the oil was being "harassed " by our legislative branch. It seems that they were going to try and step up production and make a profit. __________________ "Igitur qui desiderat pacem, praeparet bellum."

04-28-2008, 01:55 PM	#3
nathangdad Senior Member Join Date: Nov 2007 Posts: 2,936	Yes but not easily The United States Geologic Survey (USGS) classifies the Bakken field as "technologically recoverable". Basically, this means is can be done but major questions arise as to how economically it can be done. This is particularly true of the Montana/North Dakota sands. Beware of those who claim to have a "new process" or "new technology" to get the oil as some of them are seeking investment on fraudulent pretext. If you are approached in this manner demand to see all the legal documentation relating to the investment. Read the fine print. One big clue will be if you are investing in the trial production of their equipment with no guarentee it will work in the field. Always check for their escape clauses. Have an attorney read the fine print if you are in doubt. If they have been granted a patent it will be listed on the U.S. Patent Office Website where you can read and obtain a copy of it. If it says "Patent Pending" they do not yet have a U.S. Patent and may or may not have one awarded by the U.S. Patent Office. Only invest if you have done your homework and truly believe in that which you invest. Do not invest money you cannot afford to lose.

04-28-2008, 02:15 PM	#4
jimkim Senior Member Join Date: Mar 2008 Location: Near the Little Ocmulgee river in GA Posts: 2,322 Blog Entries: 15	I don't know about all that. We may not be looking at the same technology. I was referring to the technology that they are using in Saskatchewan. __________________ "Igitur qui desiderat pacem, praeparet bellum."

04-28-2008, 05:44 PM	#7
nathangdad Senior Member Join Date: Nov 2007 Posts: 2,936	To Cyrano It actually could work to heat materials with sunlight to pump into the sand stata. However, it would take a massive investment to set up the amount of heating necessary to make it work. Superheating vast quantities of water to steam then pumping steam into sand or shale will liberate oil. As with so many things, the startup costs are so phenominal it often does not get done. In a somewhat related thought, you may be aware of technology used in Greenland where wells are drilled to great depths, water is pumped down, steam comes up, and heat/power generation occurs. Once again you have the cost of drilling to the depth necessary in this oil deposit to superheat water to steam. Naturally, it will be a greater depth than Greenland. So, this oil may or may not be a recoverable asset in our lifetime.

04-28-2008, 05:07 PM	#6
Cyrano Senior Member Join Date: Oct 2007 Location: New York Posts: 3,057	Could we liberate the oil from the sand by heating it in a solar furnace like that one the French have, that can focus bright sunlight fine enough to cut through steel plates?

04-28-2008, 08:23 PM	#8
publius Banned Join Date: Apr 2008 Posts: 45	*It's not that complicated, they've been pumping oil out of this region for 55 years.*