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.

Hydrologic analysis of a limestone quarry using EPA's HELP Version 3.08 Model

Aggregates were historically a low cost commodity but with communities and governmental agencies reducing the amount of mining the cost is increasing dramatically. An awareness needs to be brought to communities that aggregate production is necessary for ensuring the existing infrastructure in today’s world. This can be accomplished using proven technologies in other areas and applying them to show how viable reclamation is feasible. A proposed mine reclamation, Douglas Township quarry (DTQ), in Dakota Township, MN was evaluated using Visual Hydrologic Evaluation of Landfill Performance (HELP) model. The HELP is commonly employed for estimating the water budget of a landfill, however, it was applied to determine the water budget of the DTQ following mining. Using an environmental impact statement as the case study, modeling predictions indicated the DTQ will adequately drain the water being put into the system. The height of the groundwater table will rise slightly due to the mining excavations but no ponding will occur. The application of HELP model determined the water budget of the DTQ and can be used as a viable option for mining companies to demonstrate how land can be reclaimed following mining operations.