The Secret They Don't Want You to Know- Bakken Oil Sands (Enron related)

[BeHereNow]

Dear DU,

All this kabuki theater about opening up drilling is nothing
more than smoke and mirrors constructed to divert our attention
from the Bakken Oil sands, right here in the good old USA.

The mega players have been making fortunes off the Bakken Oil sands
located in North Dakota and surrounding areas.

Some one just made this link vanish-
I TOLD YOU THEY DON'T WANT YOU TO KNOW!
http://www.chron.com/disp/story.mpl/headline/biz/582402...
(Note EOG Resources is part of the now defunct Enron)

SO HERE IS A FRESH LINK- to the article.
http://www.libertyforum.org/showflat.php?Cat=&Board=news_business&Number=296282617&page=&view=&sb=&o=

" June 6 2008 - An elusive ocean of crude
Two miles below North American wheat fields is an area that could rival Saudi Arabia
By ANTHONY EFFINGER
Bloomberg News

John Bartelson, who smokes Marlboro Lights through fingers blackened with tractor grease, may look like an average wheat farmer. He isn't. He's one of North Dakota's new oil barons. Every month, he gets a check for tens of thousands of dollars from Houston company EOG Resources, which drilled two oil wells on his land last year. He says the day his first royalty check arrived was one to remember.

snip-
Best of all, the Bakken could be huge. The U.S. Geological Survey's Leigh Price, a Denver geochemist who died in 2000, estimated that the Bakken might hold 413 billion barrels. If so, it would dwarf Saudi Arabia's Ghawar, the world's biggest field, which has produced about 55 billion barrels.

snip-
The big winner so far has been EOG, formerly a subsidiary of bankrupt energy trader Enron Corp. It drilled a horizontal well in western North Dakota just north of Parshall, population 1,028, in April 2006. The well came online a month later and kicked out 1,883 barrels in the first seven days. Unlike the older vertical wells, it's still going."



Wouldn't you like to see Cheney's energy task force meeting minutes now?

Congress piggies have gotten filty rich off the insider tips about Suncor,
a leading Canadian oil sands company.

I'm sure they are benefitting from the Bakken oils sands as well
which is why they continue this ridiculous charade.

You can damn well bet they are invested in the Bakken plays now
as they were in Suncor before the average Joe knew about it.

Spread this far and wide.
You and your family will never hear about it on network
news. You deserve to know where to invest your money too.
The stock CLR, (Continental Resources, mentioned in the article)
went from $14.00 to nearly $80.00 in a year.
Guess who the big holders are?
http://finance.yahoo.com/q/mh?s=CLR

Wonder how they knew to buy?

BHN

:mad:

[Recursion]

1. DRAAAAAIIIINAGE! nt

[Leopolds Ghost]

69. Because they flow very slowly, sands must be extracted by strip mining an area size of New England:

From Wikipedia:



Because extra-heavy oil and bitumen flow very slowly, if at all, toward producing wells under normal reservoir conditions, the sands must be extracted by strip mining or the oil made to flow into wells by in situ techniques which reduce the viscosity by injecting steam, solvents, and/or hot air into the sands.

[Leopolds Ghost]

70. Using vast quantities of natural gas extracted from ANWR.

Using vast quantities of natural gas extracted off the coast of ANWR
and the Canadian Arctic Reserve (the real reason they want permission
to go in there) and shipped to a pipeline to the US thru native wilderness
areas (allowing us to go in and strip mine for those, too) with half of it
diverted to Alberta and sold to the oil companies at a discount to produce
oil chemically like the Nazis did, doubling the greenhouse footprint of
the resulting bitumenous BTUs:

[MichiganVote]

2. And in the meantime Congress subsidizes these asswipe companies

[BeHereNow]

58. With our money, while they get in while the stock is cheap.

Quite a racket, eh?

BHN

[MichiganVote]

65. No kidding. The crazies have taken over the planet.

[BeHereNow]

67. Not the crazies, the GREEDIES. Our congress and senate included.

Never in the history of the world has so much
wealth been concentrated in the hands of so few.

What to do about it?
I have no idea.

BH

[MichiganVote]

75. Not exactly good news but I'm thinkin' its about time for another plague or something.

Isn't that what always happens with humans when we get heavy into globalization?

[Supersedeas]

76. they call it 'energy independence' -- but where is their allegiance?

[SammyWinstonJack]

3. .

[pt22]

4. It takes more energy to get the oil from the Bakken formations than it will yield.

There are plenty of reasons to be paranoid but this ain't one of them.

[BeHereNow]

6. Who said anything about paranoid? I'm FURIOUS.

And I can't help but ask, did you READ the article?
Did you click on the link of the major holders?
Do you happen to work for the smoke and mirror force?

BHN

[pt22]

10. I've read dozens of articles and geophysical studies about it.

That's what I do. I've been in the oil business for 45 years so I imagine you think I'm a bad guy...I am not.
I'm a dedicated Democrat who wishes our party had more smart and dedicated people in it.

Are you talking about CLR? It isn't even CLF as you wrote...you obviously don't even know who you're talking about and it doesn't matter anyway...there are and always will be greedy speculators who will run up the price on crap like this and perpetual motion machines. None of which will cancel the fact that those hydrocarbons will never be produced.

[BeHereNow]

13. Yes, CLR- my typo, and no I don't think you're a "bad guy."

And I do know what I'm talking about.

What I wonder about is your motive in trying to steer fellow
DUers from doing their OWN research and deciding what to
do with their money.
Sure there are plenty of bullshit start up companies
in the Bakkens, but CLR is certainly NOT one of them.

I got into Suncor very early, thanks to a tip
from a friend who worked for a congress critter.

BHN

[pt22]

20. Actually I was pointing out that readers SHOULD do their own research

and not depend only on what you started out with. I'm happy you have some stock that will probably do well for you...if you don't hang onto it too long. (Which of course is true for any securities)

[L. Coyote]

44. I call BS. It is producing right now.

[BeHereNow]

57. 'xactly...

And the hawks are circling.

I keep thinking about the movie
"There Will Be Blood."

Did you see it?

BHN

[pt22]

72. Sure. And when will it get to the break-even point?

Hmmm?

[lonestarnot]

5. Thanks BHN! Bookmarking and pulling out what's left of my fucking hair!

:thumbsup:

[BeHereNow]

8. Enron, the gift that keeps giving...

I know what you mean about pulling out your hair.
I'm nearly bald now.

BHN

[bbinacan]

7. "Guess who the big holders are"

I don't see what you're driving at.

[BeHereNow]

9. Did you click on the link?

Goldman Sachs, Bank of America, Vanguard.
The mega players.

Wouldn't YOU have like to have known to bought the
stock at $14 dollars now that it is nearing $80??

They certainly knew.
How is that?

BHN

[pt22]

12. Vanguard manages 401K plans for millions of ordinary working people.

You're attacking them when you engage in this stupid commentary. Good grief.

[BeHereNow]

15. I prefer to manage my OWN money.

And please, do elaborate as to what is "stupid"
about my commentary?
Sorry, right wing one liners don't fly with me.
BHN

[bbinacan]

24. So you manage your OWN money

Do you have any mutual funds?

[BeHereNow]

26. Why do you ask?

BHN

[bbinacan]

32. It's a simple question.

Are you afraid to answer?

[BeHereNow]

36. Why would I be afraid to answer?

Curious as to your motive for asking, but afraid no.

No, I don't.
I moved as much as I could years ago.
Not saying where though.

Any more questions?

BHN

[bbinacan]

45. I'm curious because I was

an investment consultant for 18 yrs. I spent 9 years at Morgan Stanley and was an AVP. I changed careers and now do land acquisition for infrastructure.

My point about the funds is that you may very well have been a beneficiary of such investments.

Not all things are nefarious. In the late 90s I recommended a stock that was $7 on the IPO. It went to $150 in a year in a half. I had NO insider knowledge.

edit to add: I was not allowed to buy any for myself or my family members.

[bbinacan]

23. Yes I clicked the link.

How large was their investment relative to their investable assets. Very small I would wager. If they knew it was a sure bet, they would have invested much much more. Let me loan you this. :tinfoilhat:

[BeHereNow]

27. Oh they've invested in more that ONE Bakken company-

Should we count it all up?
I'd say they are counting on something.
You must admit, as stock that shoots from
$14 to nearly $80 in less than a year is
a pretty good investment.

Oh, that the average Joe knew to do the same.

I think you are missing my point.

BHN

[bbinacan]

31. What does the total come to and

what did they pay for the stocks? When did they buy them?

[BeHereNow]

42. Do you expect me to look all of it up on the SEC filings or what?

You seem to miss the point of WHO is in on the Bakken fields.
THAT is the point.

Were YOU aware of the Bakken fields and which companies
were poised to make a shit load of money?

The majority of people were not.
They, who control the world, certainly were.

BHN

[bbinacan]

52. Yes I expect you to check the

SEC filings and get totals before you make a blanket assumption.

edit to add: You can get those on the Edgar database. Happy hunting.

[BeHereNow]

56. Nah thanks...I research what I need to know for my investments-

And I've got all the information I need.

I know which Bakken stocks I am buying at this point.

BHN

[bbinacan]

59. Best of luck. n/t

[BeHereNow]

61. Thanks- so far so good.

I don't trust my money with anyone but myself.
If I fail, and so far quite the opposite is true as
far as protecting as well as growing my assets,
I will only have myself to blame.

I think anyone willing to do some serious reading
will quickly figure out that it is all a shell game,
the transfer of wealth.

The American people, for the most part, are
still largely unaware that we live in a global
economy- not a "national interest" one.

One of the biggest investors in the Bakken
is a global firm.

That's all I need to know.

Thanks for the good wishes.

BHN

[PaDUer]

50. Isn't Biden on the board

of Bank of America?

[IronLionZion]

11. Info on oil sands, also known as tar sands or bituminous sands

http://en.wikipedia.org/wiki/Oil_sands#Production

It's very expensive

[verdalaven]

14. The article is gone

Link isn't working. I am going back to search for it on site.

Good stuff, I want it all.

[BeHereNow]

17. OMG. You are not kidding.

:rofl:
Like I said, they don't want you to know.

BHN

[BeHereNow]

18. Here, I found it on another web site!

http://www.libertyforum.org/showflat.php?Cat=&Board=news_business&Number=296282617&page=&view=&sb=&o=

They can't wipe them all.
The original was published at Bloomberg I believe.

BHN

[BeHereNow]

19. TOO funny! The source they wiped was from HOUSTON. The Chronicle. Enron Country

They must have some paid trolls on the board, watching
to make sure nobody pulls the curtain back and reveals
the men behind it...


:hide: :rofl: :rofl: :rofl: :rofl:
BHN

[anigbrowl]

28. Um....no. It's still there.

Are you sure you pasted the link correctly?


http://www.chron.com/disp/story.mpl/headline/biz/582402 ... << as posted in the OP

http://www.chron.com/disp/story.mpl/headline/biz/5824026.html << the working link

[BeHereNow]

29. The one in my original post is gone- go see for yourself.

Go on, click the link in the OP.
BHN

[anigbrowl]

33. I did. It's missing the '.html' part.

Could be you didn't post it correctly or could be some minor DU glitch. If you had read my post above, you would see that I actually copied the link from your OP so you could see the difference.

[BeHereNow]

35. You are so thoughtful.

BHN

[anigbrowl]

37. Well it's an interesting article. I was surprised at the idea they would remove it.

Usually I find when a link I have posted doesn't work it's because I was too hasty in posting it rather than because it's vanished from the original server.

[BeHereNow]

38. The Enron Factor is why they would remove it.

The article mentions one of Enron's subsidiaries involvement
in the Bakkens.

Bet those people who worked at Enron and lost everything would
like to get some of it back.

I would wager the majority of them are not aware
of this subsidiary company...

BHN

[anigbrowl]

41. (scratches head) but they didn't remove it, as you can see.

Well, I guess I'll stick to my double-checking-of-broken-links method.

[BeHereNow]

46. Yes, now we all know that- it is still there, we thought it wasn't and wouldn't

be at all surprised- those of us who have seen that sort
of thing happen on DU over the years.

Thanks for giving us the link- now there are three working links.

BHN

[bluesmail]

16. HA! Horizontal drilling...that's akin to breaking into a neighbor's

basement and stealing valuables. Only thing when you break into the basement you can get caught.

[Wiley50]

21. You're thinking of "slant" drilling

In this case they are simply drilling horz. in order to suck up the drainage from the sands

But when that easy drainage is gone, getting the rest of the oil out of the sand will involve injecting steam into the well.

That involves water, the energy to heat that water into steam and then separating the oil from the steam water when it comes out.

All of these things cost money which raises the cost of extracting the oil

Will it be worth it? at $150/barrel, maybe.

There is no such thing as an Easy Bakken Oven for grownup oil barons

[BeHereNow]

25. "Easy Bakken Oven!!!" ROTFLMAO!!!! A DU classic is born!

Wiley50, that is the funniest pun I have seen in my
years on DU!!!

:thumbsup: :hi: :hug:

BHN

[Wiley50]

30. Glad you like it BHN, But I feel kinda bad

about bringing up the realities of getting at this oil

Yes, in a pinch, it's there. The industry has known about it for decades

But, it hasn't been profitable to go after it until now.

The world is full of oil, it's just

how much do you want to go through to get it

For our Major oil players, that's why Iraqi oil; is so highly prized

It's really cheap to go after oil in Iraq. It's not far underground

and if you can sucker the American people to send their military to go steal it for you

and the oil companies can sucker us into paying those costs with taxes, and their taxes are slashed

then they will go after it first. They are bloodthirsty opportunists

[BeHereNow]

34. Yes, they are very busy in Colombia too.

And you are right, it is not easy to get to it,
but they have managed fairly well in Canada.

I think what some people are missing in this thread
is the point that the average Joe has no clue about the
Bakken sands or the fact that they too, could profit from
some of the stocks that the big boys know about.

You can bet that there are congress people already
invested in some of the companies there.
That is why I find the latest act of kabuki theater from them
so deplorable. NOT one of them has mentioned
the Bakken fields which are already being explored.
I encourage of course, any DUer looking into investing
in one of these companies to research carefully.

BHN

[Wiley50]

49. Well,thats true. But I'm not exactly an investor class person

But I don't mean to think only about me

I live on $637/mo SSI disability on an old sailboat I bought to get the fuck out of here before it blows.

But, I ran out of money a few hundred bucks short of getting it back in the water.

If I did have say, $10,000, I'd be out of here and off to Guatemala

So fast the water would turn to steam behind my boat.

I think anyone who still has money invested in dollar denominated assets and in the USS Stock market

a very foolish person at this point. All signs point to a major crash and, I have to say

that it is just simply karma for all of the greedy crap that this country is guilty of.

If I had real assets it would be out of here, invested in a basket of currencies somewhere else

and I myself would be out of here too.

It's gonna fall. Just a matter of time and that time is short.

[Raster]

40. If you're a member of the Texas-American Petroleum Mafia, what's not to like?

The US government will use their military might to protect your interests, even to the point of seizing the property of others.

The US government will give you subsidies to explore new sources of petroleum.

The US government will give you tax breaks to subsidize operations.

The US government will tacitly endorse price speculation to increase your profits.

The US government will protect your outright monopoly.

What's not to like?

[BeHereNow]

51. You nailed it nicely.

We pay- they profit.
BHN

[Raster]

53. Thank you!! And as we can see, the Texas-American Petroleum's investment in

cheney*/bush* has paid off HANDSOMELY.

I would like to know who-the-fuck thought putting two disreputable oil men into the White House was a good idea?

[bluesmail]

39. Thank you for the clarification.

:hi:

[NashVegas]

62. I Drink Your Milkshake

[pt22]

22. No, it's not even similar.

:eyes:

[L. Coyote]

47. I call BS. First you purchase the mineral rights!!!

[L. Coyote]

43. I call BS. It is in the news fequently here in North Dakota. Google it.

Halliburton diesel trucks sitting at idle, burning fuel, and polluting our pristine air are a common sight at restaurants now.

[BeHereNow]

48. There was an article in Indian Country News about a deal-

http://www.indiancountry.com/content.cfm?id=1096417473

The people where you are may be aware of it, but I guarantee you, the
average Joe isn't.

Sorry you have Satan's truck fleet ascending on you.
Not surprised though.
I think the fact that they ARE there tells us
all we need to know.

BHN

On edit-
snip from the article-
"Oil industry spokesmen said the agreement gives companies a set of tax rates and regulatory assumptions they may rely on in deciding whether to drill.

Ron Ness, president of the North Dakota Petroleum Council, said uncertainty about taxes and complex tribal rules have discouraged new drilling on the Fort Berthold Indian Reservation for more than 20 years.

''Oil companies want regulatory certainty, and they're very sensitive to taxation,'' Ness said. ''At least under this situation, they know what the ground rules are. Previously, there was little or no activity there because of the uncertainty.''

Translation, we plan to fuck the natives one more time...

[anigbrowl]

55. I can't help feeling 'Average Joe' spends more time on the sports than the business news.

Which is not to say that the wealthy and powerful don't have a huge insider advantage when it comes to spotting opportunities like this, but on the other hand the typical man or woman in the street doesn't really have the time or inclination to follow publicly available business intelligence all that closely.

[Wiley50]

54. You're callin' BS a lot. Tell me. When you call

was BS there to talk to you

or did you leave voice mail?

I don't see where we have any disagreement.

At $150/barrel, I'm not suprised Hallifuckers are prowling

But if it dropprd to $28 again they'd hightail it

[BeHereNow]

60. I'm sure it is in ND news, but certainly not national.

And certainly left out of the current Kabuki Congress hearings
on "opening up" more drilling.

That's the point I was making.

And again, I'm sorry to hear you are
being invaded by Halliburton trucks.

Sorry, but not at ALL surprised.
Would you mind letting me know which field
they are visiting the most so I can buy the same stock
as the Corporate Congress swine?

BHN

[hunter]

63. Nice scam.

Pretend that some hyped up "resource" will solve our energy problems and then sell it, or use it as collateral for loans. Cash out and run before the project fails.

Turning oily dirt into fuel is roughly equivalent to turning water into fuel. You can do it, but you need other energy and material inputs that turn out to be more valuable in the long run than the fuel produced.

[BeHereNow]

64. Sorry, but it is not hyped up. It is very real.

Some of the companies involved are hyped up,
trust me when I tell you, they are producing.

Just as they did in the Canadian Oils Sands.


BHN

[BeHereNow]

74. EOG, the Enron boys under another name, is trading around $130 today...

Shouldn't they be giving some of that to the Enron
employees who lost everything?

Or the state of California that they bilked a gazillion dollars out of?

BHN

[Dover]

66. some other sites to peruse

The Bakken Formation: How Much Will It Help?
Posted by Gail the Actuary on April 26, 2008 - 10:00am
Topic: Supply/Production
Tags: Bakken, Bakken Shale, williston basin

This is a post by Piccolo, a petroleum engineer working in the petroleum industry.

The Bakken formation in North Dakota and Montana has generated a lot of buzz in the past year. Reserve numbers in the billions of barrels, even tens or hundreds of billions show up in press reports and blogs. Now the USGS has weighed in with a comprehensive assessment of the resource. So just how much will this oil accumulation help the world's largest importer of oil? Is it time to relax or is this just another small blip in the long-term decline of domestic production? We'll examine these questions and others below the fold, using data from the IHS database.

cont'd

http://www.theoildrum.com/node/3868


----

U.S. Says 400-Billion Barrel Bakken Oil Field a 'Myth'
By Keriann Hopkins
CNSNews.com Correspondent
June 18, 2008

(CNSNews.com) - Reports circulating on the Internet tell of an oil field spanning parts of western North Dakota and eastern Montana where 400 billion barrels of oil supposedly are just waiting to be tapped. However, the U.S. Geological Survey (USGS) tells Cybercast News Service that those huge estimates are "a myth."

A USGS report issued in April estimates that there are between 3 billion to 4.3 billion barrels of oil in what is referred to as "the Bakken Formation" -- well below the 400 billion barrels discussed on the Web, but up from the previous estimate of 151 million barrels made in 1995.

Richard Pollastro, Bakken Formation task leader at the USGS, said the myth stems from a 1999 draft report -- never published -- by a now-deceased USGS employee, Leigh Price. Price estimated that the Bakken Formation holds up to 400 billion barrels of oil. To put that in perspective, Saudi Arabia, the world's largest oil producer, has about 260 billion barrels of known oil reserves...cont'd

http://www.cnsnews.com/ViewBusiness.asp?Page=/Business/archive/200806/BUS20080618a.html

---

Dept. of Mineral Resources:
https://www.dmr.nd.gov/ndgs/bakken/newpostings/07272006_BakkenReserveEstimates.pdf

---

Bakken Shale play NOG looks to be a big player.
http://biz.yahoo.com/prnews/080617/cltu052.html?.v=101

---

Bakken Stocks
http://www.bakkenstocks.com

[NickB79]

68. Their first well produced 269 barrels per day? That's IT?!?!?!

I can't believe people are pinning hopes on Bakken if that's what we're seeing so far. Everyone does realize that the US uses 24 MILLION barrels per day, right?

Currently, North Dakota produces ~150,000 barrels per day: http://www.businessweek.com/ap/financialnews/D919HDDG0.htm

That amounts to 0.06% of US consumption today.

Hooray! We're saved!!!

[JCMach1]

71. There is enough oil to last a long time- However, what the oil companies need

is higher prices to sustain the fact the oil is harder to get! Oil sands, tars, shales and deep ocean drilling... That costs $$$

Don't think for a minute the current prices are about supply and demand. The companies are taking massive price advantage while the 'oil' president is in charge.

[Raster]

73. That is exactly what is happening. It's not supply and demand, it's plunder and pillage.

Somewhere in a Board Room in North Texas, a room of very rich old white men are trying to gauge just how much they can steal while their minions are in office. The Texas-American Petroleum Mafia have been HIGHLY INSTRUMENTAL in American politics for years, and are the number one cheney*/bush* are where they are today. From bush* family consigliori James Baker to the unmanned members of cheney*'s "secret" energy panel, The Texas-American Petroleum Mafia AND their fraternal twin, the Military Industrial Complex are everywhere in the American political landscape. cheney*/bush* is not their first foray into the American politics. No, their greasy touch has been evident since JFK, who incidentally refused to play ball on their terms. No matter, LBJ had no problem signing in blood. Lots and lots of blood. A entire generation's blood as it turned out. Now they're up to their old tricks again. A new generation, new blood. And this time it's so obvious that their motivations are: oil, money and continued power. It doesn't matter if your kid is maimed or killed in the process. It all goes to the bottom line. And the bottom line is money and power. For them. The rest of us are just collateral damage.