North Dakota booming with oil

North Dakota booming with oil “As of 2006, the state was only producing about 100,000 barrels of crude oil per day, putting it on par with other mid-tier oil producing states like Kansas, Colorado and Montana. But new hydraulic fracturing techniques and the opening of the massive Bakken formation to drilling changed all that, and as of January 2013 the state was producing an average of 770,000 barrels of crude per day, for a total of 23,834,000 barrels per month.” It’s no wonder with all…

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Sanchez Energy buys Eagle Ford Shale assets

Sanchez Energy buys Eagle Ford Shale assets “Sanchez Energy will run a single rig on the liquids-rich spread while it assesses the full potential. It will focus on Eagle Ford development initially but noted that other operators are pursuing the Buda limestone and Pearsall shale that may provide Sanchez Energy with potential growth opportunities” Sanchez Energy Corporation in Houston, Texas is buying the Eagle Ford shale in south Texas for $265 million dollars in cash! This deal will not only increase Sanchez energy producing well…

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Oil production increases Railroad growth

Oil production increases Railroad growth “US President Barack Obama in his second inaugural speech called for a $50 billion upgrade of the US transportation infrastructure, including rail that political analysts say will be hard to finance.”  “The rapidly growing need for more rail transportation of crude has triggered sizeable investments in both loading and unloading facilities and soaring orders for tank cars “making movement of oil by rail a major growth market for North American railroads,”              The rapid increase…

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