ECONOMIC PROFITABILITY OF THE BAKKEN, NORTH DAKOTA UNCONVENTIONAL OIL PLAYS BASED ON A TYPICAL WELL PERFORMANCE WITH CURRENT MARKET CONDITIONS

Increases in oil prices after the economic recession have been surprising for domestic oil production in the United States since the beginning of 2009. Not only did the conventional oil extraction increase, but unconventional oil production and exploration also improved greatly with the favorable economic conditions. This favorable economy encourages companies to invest in new reservoirs and technological developments. Recently, enhanced drilling techniques including hydraulic fracturing and horizontal drilling have been supporting the domestic economy by way of unconventional shale and tight oil from various U.S. locations. One of the main contributors to this oil boom is the unconventional oil production from the North Dakota Bakken field. Horizontal drilling has increased oil production in the Bakken field, but the economic issues of unconventional oil extraction are still debatable due to volatile oil prices, high decline rates of production, a limited production period, high production costs, and lack of transportation. The economic profitability and viability of the unconventional oil play in the North Dakota Bakken was tested with an economic analysis of average Bakken unconventional well features. Scenario analysis demonstrated that a typical North Dakota Bakken unconventional oil well is profitable and viable as shown by three financial metrics; net present value, internal rate of return, and break-even prices.

Graphite exfoliation by supercritical carbon dioxide extraction

Supercritical carbon dioxide is used to exfoliate graphite, producing a small, several-layer graphitic flake. The supercritical conditions of 2000, 2500, and 3000 psi and temperatures of 40°, 50°, and 60°C, have been used to study the effect of critical density on the sizes and zeta potentials of the treated flakes. Photon Correlation Spectroscopy (PCS), Brunauer-Emmett-Teller (BET) surface area measurement, field emission scanning electron microscopy (FE-SEM), and atomic force microscopy (AFM) are used to observe the features of the flakes. N-methyl-2-pyrrolidinone (NMP), dimethylformamide (DMF), and isopropanol are used as co-solvents to enhance the supercritical carbon dioxide treatment. As a result, the PCS results show that the flakes obtained from high critical density treatment (low temperature and high pressure) are more stable due to more negative charges of zeta potential, but have smaller sizes than those from low critical density (high temperature and low pressure). However, when an additional 1-hour sonication is applied, the size of the flakes from low critical density treatment becomes smaller than those from high critical density treatment. This is probably due to more CO2 molecules stacked between the layers of the graphitic flakes. The zeta potentials of the sonicated samples were slightly more negative than nonsonicated samples. NMP and DMF co-solvents maintain stability and prevented reaggregation of the flakes better than isopropanol. The flakes tend to be larger and more stable as the treatment time increases since larger flat area of graphite is exfoliated. In these experiments, the temperature has more impact on the flakes than pressure. The BET surface area resultsshow that CO2 penetrates the graphite layers more than N2. Moreover, the negative surface area of the treated graphite indicates that the CO2 molecules may be adsorbed between the graphite layers during supercritical treatment. The FE-SEM and AFM images show that the flakes have various shapes and sizes. The effects of surfactants can be observed on the FE-SEM images of the samples in one percent by weight solution of SDBS in water since the sodium dodecylbenzene sulfonate (SDBS) residue covers all of the remaining flakes. The AFM images show that the vertical thickness of the graphitic flakes can ranges from several nanometers (less than ten layers thick), to more than a hundred nanometers. In conclusion, supercritical carbon dioxide treatment is a promising step compared to mechanical and chemical exfoliation techniques in the large scale production of thin graphitic flake, breaking down the graphite flakes into flakes only a fewer graphene layers thick.