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.

New media reading strategy

This dissertation addresses the need for a strategy that will help readers new to new media texts interpret such texts. While scholars in multimodal and new media theory posit rubrics that offer ways to understand how designers use the materialities and media found in overtly designed, new media texts (see, e.g,, Wysocki, 2004a), these strategies do not account for how readers have to make meaning from those texts. In this dissertation, I discuss how these theories, such as Lev Manovich’s (2001) five principles for determining the new media potential of texts and Gunther Kress and Theo van Leeuwen’s (2001) four strata of designing multimodal texts, are inadequate to the job of helping readers understand new media from a rhetorical perspective. I also explore how literary theory, specifically Wolfgang Iser’s (1978) description of acts of interpretation, can help audiences understand why readers are often unable to interpret the multiple, unexpected modes of communication used in new media texts. Rhetorical theory, explored in a discussion of Sonja Foss’s (2004) units of analysis, is helpful in bringing the reader into a situated context with a new media text, although these units of analysis, like Iser’s process, suggests that a reader has some prior experience interpreting a text-as-artifact. Because of this assumption of knowledge put forth by all of the theories explored within, I argue that none alone is useful to help readers engage with and interpret new media texts. However, I argue that a heuristic which combines elements from each of these theories, as well as additional ones, is more useful for readers who are new to interpreting the multiple modes of communication that are often used in unconventional ways in new media texts. I describe that heuristic in the final chapter and discuss how it can be useful to a range of texts besides those labelled new media.

Economic viability of shale gas production in the Marcellus Shale; indicated by production rates, costs and current natural gas prices

The U.S. natural gas industry has changed because of the recent ability to produce natural gas from unconventional shale deposits. One of the largest and most important deposits is the Marcellus Shale. Hydraulic fracturing and horizontal drilling have allowed for the technical feasibility of production, but concerns exist regarding the economics of shale gas production. These concerns are related to limited production and economic data for shale gas wells, declines in the rates of production, falling natural gas prices, oversupply issues coupled with slow growth in U.S. natural gas demand, and rising production costs. An attempt to determine profitability was done through the economic analysis of an average shale gas well using data that is representative of natural gas production from 2009 to 2011 in the Marcellus Shale. Despite the adverse conditions facing the shale gas industry it is concluded from the results of this analysis that a shale gas well in the Marcellus Shale is profitable based on NPV, IRR and breakeven price calculations.

The Domestic Natural Gas Shortage in China

This thesis analyzes the domestic shortage in the Chinese natural gas market. Both the domestic supply and demand of natural gas are growing fast in China. However, the supply cannot catch up with the demand. Under the present pricing mechanism, the Chinese natural gas market cannot get the equilibrium by itself. Expensive imports are inadequate to fill the increasing gap between the domestic demand and supply. Therefore, the shortage problem occurs. Since the energy gap can result in the arrested development of economics, the shortage problem need to be solved. This thesis gives three suggestions to solve the problem: the use of Unconventional Gas, Natural Gas Storage and Pricing Reform.