What’s your guess for highest level of Bakken production? How about 2,000,000 bopd in 2023?
Here’s the first estimate I’ve seen for the highest level of output for Bakken oil.
The graph predicts crossing the 1 million point in early 2014 (hard to tell a specific point on a graph that has a 40 year scale, but that’s what it looks like.) About 2 million bopd in 2023 with a tail that falls back to a million in about 2038 dropping to around 400,000 in 2050.
That would be above 1M bopd for about 20 years.
Check out the graph from Sachs Global Investment Research found at Bakken Shale: Bakken Production Chart -Goldman Sachs.
Oh. And that from a field that was producing 80,000 bopd a decade ago because none of the geology and engineering whizs had any idea how to get the oil out of the ground.
From 80K bopd to 2,000k bopd in 2 decades. Wow.