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North End I-15 | are the bad boy in the closet .
Yes we have lots of oil . But it will not compete with cheap foriegn imports .
When Oil prices spike over $100 all sorts of activitey starts up in this old Kevin / Sunburst field.
When it drops to the 60$ level , the activiy ceases .
Old wells producing 3 to 10 barrels a day were shut down years back as un economic .
They are called stripper wells . Produce more water than oil .
The cost to bring back on line shut down wells is not cheap .
Pulling rig guys are making good money . Pulling old pumps , cleaning out wells , some fracing . but when oil drops so does any new work on old wells.
New exploration along the "Front" is very promising but , cost of production is high.
The Oil cartel and our Big Oil companies know to the $ when it is more economic to import rather than to produce
from "tight formations" . We will never be free from foriegn oil till this country has the will and resolve to "Pay the Piper " so to speak.
Cheap energy is gone , moderate costs are here . High prices will cure foreign dependence but no one wants to pay the price.
Plus , when other areas production drops off , and prices increase , We know where to look . | |
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can anyone from the Dakotas verify this??
