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Land rig growth seen at 5%/year through 2016

Below is an part extract from http://www.ogj.com/articles/2012/06/land-rig-growth-seen-at-5year-through-2016.html

HOUSTON,
June 20 06/20/2012
By OGJ editors

Global growth in land rig demand will average 5%/year in 2012-2016, expanding the rig fleet to more than 11,000 units from the 9,700 in service today, said a worldwide study by Douglas-Westwood Ltd., Canterbury, UK.

An estimated 66% of active rig demand will come from regions outside North American by 2016, the study indicated. The growth is to be driven by the increasing volume and complexity of well requirements in order to meet global production targets.

Countries such as Kazakhstan, Mexico, and Oman are likely to witness declines, while others such as China, Colombia, Russia, Saudi Arabia, and the US are expected to see an increase in the number of rigs required.

Follow-on investments in new rig construction and the updating of current fleets (which have experienced underinvestment over the last three decades) will be necessary to meet the increased level of demand forecast for 2016, Douglas-Westwood said.

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Housing For North Dakota, Chalet Homes for North Dakota, Ready Houses for North Dakota, Housing For Bakken Shale: Container Camps for North Dakota & Williston

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Bakken Oil Shale

Bakken Oil Shale Among the Largest Ever


The Bakken oil shale formation was discovered in 1951, but recovering the oil only became economically feasible with the development of "fracking" technology and rising oil prices.

Extracting oil from shale rock formations becomes profitable when global oil prices are above $60 a barrel. Oil has been over $100 a barrel for months, and many experts believe it will only go higher in the months and years ahead.

And while oil shale deposits have been discovered in many parts of the United States, the Bakken oil shale formation is among the largest ever found.

Harold Hamm, CEO of Continental Resources Inc. (NYSE: CLR), a major player in the Bakken oil shale boom, told The Wall Street Journal last October that his company believes the formation holds 24 billion barrels of oil.

That figure doubles the proven oil reserves in the United States.

"Bakken is almost twice as big as the oil reserve in Prudhoe Bay, Alaska," Hamm said."We expect our reserves and production to triple over the next five years."

But unlike the mature fields of Prudhoe Bay, production in the Bakken oil shale region is still ramping up.

In the years leading up to 2005, production in the Bakken region was about 100,000 barrels a day. By February of this year, production had jumped to 494,000 barrels a day, a five-fold increase.

According to a recent study by Advanced Resources International, Bakken oil shale production will surpass 1 million barrels a day in 2015, eventually peaking at about 1.45 million barrels a day in 2020.

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Housing Funds

Affordable Housing Funds

This is an extract from KFYR-TV

Applications are due Friday for the North Dakota Housing Incentive Fund. The fund has received one housing project proposal from Minot, which could get up to 30 percent equity from the fund to help reduce the amount of permanent debt for that project.


At the Elmer Jesme Conference meeting today, a group made up of northwestern counties, the program was first on the agenda, addressing how local governments can apply for assistance. The two year program has already had requests for $4.3 million of the $15 million dollars available. With the increasing populations not expected to peak until 2020, the program director says it’s important in order to continue the availability of affordable housing.

“As of June 30th, the program is done, unless it is reinstated by the legislative in the spring of 2013. So we of course will be lobbying hard to have this program made permanent. And even increase the funding level depending on what the final need is,” says Jolene Klein, Director of Planning and Housing Development.

A deed restriction is attached to the funded properties in order to ensure the affordable units created with the program will remain affordable for 15 years.
 
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H2S Temporary Onshore Refugee Shelters- Worldoils Oil, gas and offshore equipment marketplace

H2S Temporary Onshore Refugee Shelters

Description :

- Dual usage; temporary refugee (TR) combined with control room,
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- We can provide gas tight shelters with a capacity from 10 to 1,500 persons
- Power supply in EX-enriched atmospheres via generator or UPS
- Mobile solutions
- All buildings are based upon the use of ISO-containers