Sunday, October 23, 2011

Even the UK papers are taking notice of the Bakken...

Here's a link today from the Telegraph, a UK newspaper.  It mentions US shale oil development as one of the driving factors that could expel the US from its current economic doldrums.  The following line is worth repeating: 'Total US shale output [mostly from the Bakken fields in North Dakota, Eagle Ford in Texas, and other reserves across the Mid-West] is "set to expand dramatically" as fresh sources come on stream, possibly reaching 5.5m b/d by mid-decade. This is a tenfold rise since 2009.'

The more I read, the more I believe that this is a phenomenal industry to get into.  Those who get with a company now will be rewarded in the short and long term.  My favorite professor in my undergraduate program, who taught International Finance, exhorted our class on the last day of the course to get with a company during the early growth phase, not at the peak, and definitely not when it's contracting.  Oil shale is definitely in that early growth phase...and it's looking to go a long way up.

(Another article on the Bakken appeared this weekend at