Oil In Western Nd!!!!
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The government estimated approximately 150,000,000 (150 mill) barrelsls of oil in the Bakken Shale formation in the western part of North Dakota and eastern Montana.
THEY WERE WRONG!!!!!
Just recently the government quoted approx 4,300,000,000 barrels, yeah i said it......4.3 Billion barrels of oil!!!! and 2/3s of that oil is located in North Dakota about 2 miles underground. Many say this easily overpowers the amount found in Anwar.
If 1 Barrel=$110.11 Then 4.3 Billion barrels=$473,473,000,000.00
The reason i posted this is because my family isnt the best off in the area. we dont own i house worth more than 100K. So this is amazing to hear. My father inherited a large sum of land in western North Dakota in the Dickinson area, so i hope we hit it big! They have been puttin holes in our land for the last few years but found nothing worth pulling up. Hopefully it will change for the better
I really dont want to sound like i am bragging but i am overwhelmingly excited to find out the outcome of this!
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This is only great news to the general public if ND built refineries and drilled for oil themselves. Than it would introduce numerous jobs and maybe a lot of benefits for the state. However, from the sounds of it, Texas companies would be the ones to build the refineries and reek the profits. Either way, we'd see some increase in jobs possibly..
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KA-T_240;214177 wrote:
Sad to say. Just because you own the land, doesn't mean you own the mineral rights to what is under that land.Well I doubt his family would start up an oil refining business and start drilling themselves..
But like you said, they do own the land.. That means that their land could be of quite high value in compared to before the newly discovered amount of natural resources. I think that is what particularly excites Krazy Kling, depending on the amount of acreage they have, it could maybe double/triple or more in value.
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DelSlow;214185 wrote:
sweet...more oil to be sold at the same price. Cool.truth....
"In the news today, they found 29,023,442,257,250,240,401 zillion gallons of oil, which should return even higher record profits for oil tycoons.......In other news, gasoline hit $5/gallon across the country. It appears that trucking jobs are at a standstill and our economy is still failing."
/ emoness
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we do have mineral rights on that land, the oil company pays our family a percentage of the amount of oil they pull up. just to clarify KA-T 240. i highly doubt this will change the price of gas since the dollar isnt worth shit.
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KA-T_240;214177 wrote:
Sad to say. Just because you own the land, doesn't mean you own the mineral rights to what is under that land.true in some cases, but not with all of our land
They are actually drilling two new wells on the GF's family's land as we speak.....
"honey, i really want this forged rotating assembly..... please".....lol
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zbrown;214209 wrote:
They are actually drilling two new wells on the GF's family's land as we speak.....i can't help but be reminded of this:
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do you have any idea how many barrels are used in the US alone in one day?
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i am not concerned about the oil consumption in the US, the only reason i posted this was to let the unknown know something. i am just excited to see what happens when they start pumping that oil off out land.
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