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.

Avian Use of Harvested Crop Fields in North Dakota During Spring Migration

Broad-spectrum herbicide applications and improved harvesting efficiency of crops have reduced the availability of weed seeds and waste grains for game and nongame wildlife. Over the last decade, corn and soybean plantings have steadily increased in the Prairie Pothole Region (PPR) of North Dakota, while sunflower plantings have declined. The PPR is an important corridor for migratory birds, and changes in food availabilities at stopover habitats may affect how food resources are used. In early spring 2003 and 2004, we compared bird use of harvested fields of sunflower, soybeans, small grains, and corn in the PPR of North Dakota. Across both years and all crop types, we observed 20,400 birds comprising 29 species. Flocks of Lapland Longspurs (Calcarius lapponicus) and Horned Larks (Eremophila alpestris) and flocks of Red-winged Blackbirds (Agelaius phoeniceus) made up 60% and 15%, respectively, of the bird counts. We found that species richness and bird densities were higher in harvested sunflower fields and cornfields than in harvested small-grain and soybean fields, with soybean fields harboring the fewest species and lowest bird density. Blackbird densities tended to be lower in fields tilled after fall harvest than in fields not tilled. These results suggest that some granivorous bird populations in the Northern Great Plains could be positively affected by planting of row crops with postharvest vertical structure (e.g., sunflower, corn) and use of no-till land management practices.

Layer-cake, anoxia, and other myths: A new look at the Devonian-Mississippian Bakken Formation Reservoir, Williston Basin, North Dakota

The Upper Devonian-Mississippian Bakken Formation in the Williston Basin is one of the most prolific onshore petroleum systems in the continental U.S., consisting of a middle carbonate-siliciclastic member sandwiched between two organic-rich units, the Lower and Upper Bakken shales. Dr. Egenhoff discusses the formation’s surprising departures from standard stratigraphy models and depositional models which contribute to its unique characteristics.

Water Quality Issues in the Williston Basin, Montana and North Dakota

The Williston basin has been producing oil and gas since the 1950s, but production has increased recently due to use of hydraulic fracturing and horizontal drilling technologies to extract oil and gas from the Bakken and Three Forks Formations. As concern about effects of energy production on surface-water and groundwater quality increases, the characterization of current water-quality conditions is highly important to the scientific community, resource managers, industry, and general public.

Dunn County and Watford City, North Dakota: A case study of the fiscal effects of Bakken shale development

The Bakken region of North Dakota and Montana has experienced perhaps the greatest effects of increased oil and gas development in the United States, with major implications for local governments. Though development of the Bakken began in the early 2000s, large-scale drilling and population growth dramatically affected the region from roughly 2008 through today. This case study examines the local government fiscal benefits and challenges experienced by Dunn County and Watford City, which lie near the heart of the producing region. For both local governments, the initial growth phase presented major fiscal challenges due to rapidly expanding service demands and insufficient revenue. In the following years, these challenges eased as demand for services slowed due to declining industry activity and state tax policies redirected more funds to localities. Looking forward, both local governments describe their fiscal health as stronger because of the Bakken boom, though higher debt loads and an economy heavily dependent on the volatile oil and gas industry each pose challenges for future fiscal stability.

North Sea Oil and Genuine Saving in the Scottish Economy

The World Bank has published estimates of sustainability of consumption paths by adjusting saving rates to take account of the depletion of non-renewable resources. During the period of North Sea oil production Scotland has been in a fiscal union with the rest of the UK. The present paper adjusts the World Bank data to produce separate genuine saving estimates for Scotland and the rest of the UK for 1970-2009, based on a ‘derivation’ principle for oil revenues. The calculations indicate that Scotland has had a negative genuine saving rate for most of the period of exploitation of North Sea oil resources, with genuine saving being positive in the rest of the UK during this period.

North Sea Oil and Genuine Saving in the Scottish Economy

The World Bank has published estimates of sustainability of consumption paths by adjusting saving rates to take account of the depletion of non-renewable resources. During the period of North Sea oil production Scotland has been in a fiscal union with the rest of the UK. The present paper adjusts the World Bank data to produce separate genuine saving estimates for Scotland and the rest of the UK for 1970-2009, based on a ‘derivation’ principle for oil revenues. The calculations indicate that Scotland has had a negative genuine saving rate for most of the period of exploitation of North Sea oil resources, with genuine saving being positive in the rest of the UK during this period.

The role of Investment Management Systems in regulatory compliance: a Post-Financial Crisis study of displacement mechanisms

The financial crisis of 2007–2009 and the resultant pressures exerted on policymakers to prevent future crises have precipitated coordinated regulatory responses globally. A key focus of the new wave of regulation is to ensure the removal of practices now deemed problematic with new controls for conducting transactions and maintaining holdings. There is increasing pressure on organizations to retire manual processes and adopt core systems, such as Investment Management Systems (IMS). These systems facilitate trading and ensure transactions are compliant by transcribing regulatory requirements into automated rules and applying them to trades. The motivation of this study is to explore the extent to which such systems may enable the alteration of previously embedded practices. We researched implementations of an IMS at eight global financial organizations and found that overall the IMS encourages responsible trading through surveillance, monitoring and the automation of regulatory rules and that such systems are likely to become further embedded within financial organizations. We found evidence that some older practices persisted. Our study suggests that the institutionalization of technology-induced compliant behaviour is still uncertain.

Building post crisis watchtowers: investment management Systems and new institutional logics for regulatory compliance

The financial crisis of 2007-2009 has precipitated large scale regulatory change. Tight deadlines for implementation require organizations to start working on remediation projects before final drafts of regulations are crystalized. Firms are faced with engaging in complex and costly change management programs at a time when profits are diminished. As a consequence of these factors, pre-crisis logics for organizing compliance practices are being questioned and new approaches introduced. Our study explores the use of Investment Management Systems (IMS) in facilitating compliance arrangements. Our motivation is to understand the new logics and the part played by IMS in supporting these approaches. The study adopts an institutional logics perspective to explore the use of such systems at eight financial organizations. The study found new logics for organizing compliance include consolidation, centralization, harmonization and consistency and that the IMS plays an important role in supporting and enabling related activities.

The Project Data Bank approach to an efficient public investment management system

Includes bibliography

Bases metodológicas y operativas para la administración de la inversión pública = Methodological and operational bases for public investment management

Incluye Bibliografía

Methodological and operational bases for public investment management

Includes bibliography