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Matt Collins
07-03-2008, 11:29 AM
The U.S. is sitting on the world's largest, untapped oil reserves -- reservoirs which energy experts know exist, but which have not yet been tapped and may not be attainable with current technology. In fact, such untapped reserves are estimated at about 2.3 trillion barrels, nearly three times more than the reserves held by Organization of Petroleum Exporting Countries (OPEC) nations and sufficient to meet 300 years of demand -- at today's levels -- for auto, truck, aircraft, heating and industrial fuel, without importing a single barrel of oil.

With up to 100 billion barrels of oil, the reserves locked under rocks buried a mile or more beneath Montana and Saskatchewan, Canada, are more than twice the size of Alaskan's entire oil cache. New drilling and oil recovery technologies are overcoming production obstacles and petroleum companies are rushing to stake their claims. Marathon Oil recently acquired about 200,000 acres in the area and will drill about 300 oil wells within five years. Brigham Exploration and Crescent Point Energy Trust also want a piece of the action. EOG Resources alone figures it can produce 80 million barrels of oil from its Bakken field. But It will take at least five years before the oil starts flowing in large volumes.

http://www.kiplinger.com/businessresource/forecast/archive/The_U.S._s_Untapped_Bounty_080630.html


http://www.theoildrum.com/files/Map.png
Also see:
http://www.theoildrum.com/node/3868

http://geology.com/usgs/bakken-formation/bakken-oil-production.gif
Also see:
http://geology.com/usgs/bakken-formation-oil.shtml

And see:
http://nextbigfuture.com/2008/05/montanas-bakken-oil.html

LittleLightShining
07-03-2008, 11:31 AM
Hmmmmm.... Indian territory. This ought to be interesting.

crackyflipside
07-03-2008, 11:31 AM
Most of the problem in this is that the oil is in shale so it makes it much more expensive to separate the shale from the oil when taking it out of the ground.

Theocrat
07-03-2008, 11:34 AM
Hmmmmm.... Indian territory. This ought to be interesting.

There will be blood. ;)

Unspun
07-03-2008, 11:35 AM
There will be blood. ;)

Great flick by the way.

Matt Collins
07-03-2008, 11:35 AM
Maybe this is why they considered seceding from the Union a few months back. Montana on it's own wouldn't mean much. But an oil rich Montana could potentially be economically viable:

http://www.kxmc.com/getArticle.asp?ArticleId=212992
http://www.freerepublic.com/focus/f-news/1973142/posts
http://www.reason.com/blog/show/125075.html

Acala
07-03-2008, 11:40 AM
Maybe this is why they considered seceding from the Union a few months back. Montana on it's own wouldn't mean much. But an oil rich Montana could potentially be economically viable:

http://www.kxmc.com/getArticle.asp?ArticleId=212992
http://www.freerepublic.com/focus/f-news/1973142/posts
http://www.reason.com/blog/show/125075.html

You don't need natural resources to economically viable. All you need is freedom. Just look at Hong Kong. In fact, having no natural resources is probably an advantage for a new republic like The Free Nation of Montana or the Republic of Arizona, because then the giant, fascist bullies in the vicinity will have no incentive to crush you and take your stuff.

HOLLYWOOD
07-03-2008, 11:41 AM
Hmmmmm.... Indian territory. This ought to be interesting.

We already OWE the Native American Indians approximately $200 BILLION from "TAPPING RESERVATIONS for NATIONAL SECURITY" aka 'GREED' of the past 118 years.

I'm sure the government will come up with some excuse NOT TO extract or to declare Eminent Domain, Wildlife Refuse, or National Security (that always works) again.

Most probably reason to barr extracting the oil/gas/etc, will be to save the; 3 Eyed Speckled Toed Frog of Montana.

The Whole OIL GAME is a SHAM, with multiple friends and family in the OIL BIZ... Plenty of Oil, 1.7 TRILLION BARRELS in the Rockies Alone, then there's CTL, GTL... the GULF of Mexico, yotta yotta...


Corporate Oil, Worthless Democratics, Greedy Republicans, Lobbyist, GREED... all adds up... we PAY, oh and the classified U.S. Government Policy: Use up the Foreign Oil First, then CONTROL the World (NWO) with the MASSIVE RESERVES in North America. Current WE THE PEOPLE HAVE TO PAY FOR THIS POLICY.

BTW, NAT GAS... the NAU has 100's of TRILLIONS CuFt of Natural Gas in the ground, all the major OIL companies are sitting on leases, NOT DRILLING, why?

Look at the price of NAT GAS! "GREED"

We haven't even started to harvest Methane Gases either! we're Scammed again

Matt Collins
07-03-2008, 11:48 AM
You don't need natural resources to economically viable. All you need is freedom. Just look at Hong Kong.The Republic of Montana would be land locked unlike Hong Kong which means they are not even remotely similar.

Zippyjuan
07-03-2008, 12:07 PM
One important line from the piece:
and may not be attainable with current technology.

Colorado also has a lot of oil shale. Oil shale is basically oil soaked rocks. You cannot just drill down and pump it up. The traditional method of extraction is to dig up the shale, crush it, and then apply heat to seperate the oil from the rocks. This requires about one barrel of oil equivilent energy to extract two barrels (not counting digging down to the shale). In this case, you would need to dig a mine a mile deep (or a massive strip mine that deep) to get the shale to the surface. They are exploring other methods including sinking heat probes into the ground to try to heat the rocks in situ.

Oil shales: Oil extracted from shale fields represents the mother lode of untapped reserves, at about 1.5 trillion barrels -- or 200 years worth of supply at current usage levels. Roughly two-thirds of the U.S.'s oil shale fields in Colorado, Wyoming and Utah are in federally-protected areas and closed to development. In addition, getting the oil out of the rock is a challenge, requiring cooking or chemical treatment of rock located as much as half a mile under the earth's surface.



What's the problem then? Why aren't oil companies jumping to pump the black gold? Contrary to what some conspiracy theorists would have you believe, there is no cabal of oil companies and foreign governments blocking the way, bottling up U.S. oil production. The reality is much more mundane. Those untapped reserves are located in places that either Uncle Sam has put off-limits for environmental reasons or are too costly to get -- or a combination of both.

HOLLYWOOD
07-03-2008, 12:56 PM
One important line from the piece:

Colorado also has a lot of oil shale. Oil shale is basically oil soaked rocks. You cannot just drill down and pump it up. The traditional method of extraction is to dig up the shale, crush it, and then apply heat to seperate the oil from the rocks. This requires about one barrel of oil equivalent energy to extract two barrels (not counting digging down to the shale). In this case, you would need to dig a mine a mile deep (or a massive strip mine that deep) to get the shale to the surface. They are exploring other methods including sinking heat probes into the ground to try to heat the rocks in situ.

Well,

We (U.S. Federal Corporate Government) are currently extracting Ethanol, which requires One Barrel of Oil to produce ONE barrel of Ethanol... on top it all off, Subsidizing it with BILLIONS of TAXPAYERS money, Disrupting the ENTIRE FOOD chain, Causing INFLATION, Pushing Americans into Poverty and/or reducing their standard of living, World Hunger, AND Adding Tariffs to Imported Ethanol!

Yeap... we know the GAME.

Just like the DirecTV Commercial: The bonehead Cable Co. EXEC's at the table saying... 90% of ALL STATISTICS can be ALTER to Say ANYTHING, 50% of the time.

Renegades
07-03-2008, 01:26 PM
We already OWE the Native American Indians approximately $200 BILLION from "TAPPING RESERVATIONS for NATIONAL SECURITY" aka 'GREED' of the past 118 years.
Um the poor treatment of Native American Indians in the United States has been going on for longer than 118 years.

brandon
07-03-2008, 01:28 PM
Isn't the oil located under the soveriegn nation of lakota?

newyearsrevolution08
07-03-2008, 01:37 PM
I love it that it was so easy to get Americans minds off of OUR DOLLAR and making them all think it has to do with oil and then people here feed it as well lol.

It's not oil that is the problem people...

werdd
07-03-2008, 01:40 PM
its shale oil :/

Acala
07-03-2008, 01:42 PM
The Republic of Montana would be land locked unlike Hong Kong which means they are not even remotely similar.

There are plenty of prosperous landlocked countries. Are you saying that because it doesn't have a sea port that Montana would not be viable as an independent country? You do know that there are trucks and airplanes that can carry goods, right?

orafi
07-03-2008, 02:41 PM
There will be blood. ;)

I will drink your milkshake!!

torchbearer
07-03-2008, 02:46 PM
Most of the problem in this is that the oil is in shale so it makes it much more expensive to separate the shale from the oil when taking it out of the ground.

The technique requires directional drilling and slow removal.
As in, they drill down so far and then horizontal for a long distance.
The oil in these layers are not concentrated, but more like droplets throughout the rock layer, so they have to work the well slowly.... but gain more of it through the horizontal well.
They are drilling the Austin chalk here in Louisiana with great success now that they know how to work the well.
In fact, all these old wells they thought were dried up, are just the opposite.
They pumped out all the easy oil, but did it so fast that they didn't realise they only got half of what was down there.

torchbearer
07-03-2008, 02:47 PM
I'm a son of an oilman, spent many days on the rigs with my father.

http://www.horizontaldrilling.org/horizontal-drilling.jpg

Zippyjuan
07-03-2008, 03:02 PM
Well,

We (U.S. Federal Corporate Government) are currently extracting Ethanol, which requires One Barrel of Oil to produce ONE barrel of Ethanol... on top of Subsidizing it with BILLIONS of TAXPAYERS money, Disrupting the ENTIRE FOOD chain, Causing INFLATION, Pushing Americans into Poverty or reducing their standard of living, World Hunger, AND Adding Tariffs to Imported Ethanol!

Yeap... we know the GAME.

Just like the DirecTV Commercial: The bonehead Cable Co. EXEC's at the table saying... 90% of ALL STATISTICS can be ALTER to Say ANYTHING, 50% of the time.
I agree that ethanol is a terrible source for energy and a waste of money. Corn ethanol is particularly bad- especially since it displaces food production and drives up the prices for food.


I do not say that it will not eventually become economically feasable but point out that it will be very expensive to try to get useful oil out of the shale deposits.

The oil shales cover a very wide area- private and federal lands and probably Indian lands as well. We do have a lot of coal in this country and coal is easier to extract than oil shale will be but for some uses cannot be substituted for oil. The deepest coal mine in the world is about 5,000 feet deep (in the UK) and here in the US run to about 1,200 feet. Our deepest shaft is 2,100 feet in Alabama. This oil shale deposit is over 5,000 feet down or more than twice as far as we have gone for coal so far.

The dollar is one issue we have. Limited resources and growing world demand is another. There are more sources of oil, but they cost alot more to get to and extract the oil so it can be used. The days of cheap oil seem to be moving past us now.

Zippyjuan
07-03-2008, 03:04 PM
Interesting information, Torchbearer. Sounds like yields are low but you are still able to get more oil out.

torchbearer
07-03-2008, 03:07 PM
They are drilling shale in Louisiana like crazy, and though they don't produce high volumes of oil per day like the easier wells, they will produce longer.
The idea they are doing in Louisiana is drilling these long horizontal wells in patterns around a central gathering facility.
A long-haul facility that with all the shale wells combined, produces a high volume of oil at a continuous rate.

Another boom, is for the indies that have been buying old wells and reworking them, these people are local, and are becoming millionares by doing it.
If I had the know how, i'd consider reworking old wells too.

torchbearer
07-03-2008, 03:21 PM
There is an ad at the bottom of th page, it says who is to blame for $4 Gas?
Has a picture of a middle eastener, Bush, and British Pertroleum..

Where is The Fed in this ad?
http://farm4.static.flickr.com/3080/2634182111_0a03545930_o.jpg

constituent
07-03-2008, 03:26 PM
Most of the problem in this is that the oil is in shale so it makes it much more expensive to separate the shale from the oil when taking it out of the ground.

and not so eco-friendly.

Matt Collins
07-03-2008, 03:28 PM
Where is The Fed in this ad?
http://farm4.static.flickr.com/3080/2634182111_0a03545930_o.jpg
What about an option for the speculators? :rolleyes:

torchbearer
07-03-2008, 03:29 PM
I don't know about all this burning rocks to get the oil out of it.
We do no such thing in this state to get oil from shale.
You just have to be more patient.

Matt Collins
07-03-2008, 03:30 PM
There are plenty of prosperous landlocked countries. Are you saying that because it doesn't have a sea port that Montana would not be viable as an independent country? You do know that there are trucks and airplanes that can carry goods, right?Only if their surrounding countries let them traverse.

torchbearer
07-03-2008, 03:34 PM
What about an option for the speculators? :rolleyes:

this guy wrote a great post on the speculators and how much of a role they really have in oil prices:


Originally Posted by DriftWood
Nope, all speculators can do is drive up the price of paper oil, not the real thing. All they can do is drive up the price of futures contracts. A speculator would "rather be dead" than to actually own any real barrels of oil. So they always sell the futures contract before the time comes when they would have to pick the barrel up at the specified location. Speculators dont have ware houses or own refineries.. so they will sell the barrel of oil at any price to people who do. Speculators dont keep any supply off the market and they dont have any demand for real barrels of oil. Therefore they do not affect the price of real barrels of oil. All they are doing is betting on future price of oil. If they are good at predicting supply and demand changes of real oil barrels in the future they will be able to sell the futures contract for more than they bought it, if they are bad and get it wrong thet will have to sell the futures contract at a loss.

Just like betting on a sports game does not change the outcome.. neither does speculation on futures contracts, or buying commodity index funds (because they are just a bunch of futures contracts)

(Also buying futures contracts to cover short lossses.. will only drive up the price of futures contracts temporarily, as it does not represent a growth in long term demand.)

Cheers

Cross the speculators off the list.

Matt Collins
07-03-2008, 03:44 PM
Cross the speculators off the list.Ok - so explain to me why the gas price fluctuates? It's obviously not based upon supply.

torchbearer
07-03-2008, 03:49 PM
Ok - so explain to me why the gas price fluctuates? It's obviously not based upon supply.

A small percentage is based on supply.
Maybe around 5% of todays increase "could" be supply.
The rest is inflation, the fluctuation most likely goes with the value of the currency its traded in.
If the dollar was solid, like gold. there would be very little movement.

Here is a great video on it: http://www.youtube.com/watch?v=jqz9J4hxh3k&feature=PlayList&p=44D5EECCCBBF0AB4&index=40

torchbearer
07-03-2008, 04:15 PM
//

Zippyjuan
07-03-2008, 06:51 PM
I found some more info on the Bakken field which started this thread. Looks like they will definately have to employ some horizontal drilling (that must be some feat- drill a hole down and then suddenly turn and drill horizontally! Do they create a pocket where they can send somebody down to attach bits and posts in the different direction? just curious how that works!). Anyhow- it is apparently a very wide but not very deep pool (actualy collection of pools as most oil fields are)- only averaging 22 feet deep and two miles underground. They have had troubles with continuous flows in the past- they eventually stopped for a while. The US Geological Survey estimates 4.3 billion barrels are recoverable with today's technology. Other estimates have been as high as 413 billion barrels. We use about 7 billion barrels a year. ANWR estimates are around 10 billion barrels.
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=ayj1uo_gdNI4

Selected parts of the article:

Thin Deposit

The challenge is getting the oil out. Bakken crude is locked 2 miles (3.2 kilometers) underground in a layer of dolomite, a dense mineral that doesn't surrender oil the way more-porous limestone does. The dolomite band is narrow, too, averaging just 22 feet (7 meters) in North Dakota.

The USGS said in April that the Bakken holds as much as 4.3 billion barrels that can be recovered using today's engineering techniques. That's a fraction of the oil that Price said should be there, but it's still the largest accumulation of crude in the 48 contiguous U.S. states. North Dakota, where Bakken exploration is most intense now, won't become Saudi Arabia unless technology improves.

``The Bakken is the biggest thing in oil in the lower 48 right now,'' says Jim Jarrell, president of Ross Smith Energy Group Ltd., a research firm in Calgary. ``And among the least understood.''

Delaying the Peak

Some oil, like the 10.4 billion barrels estimated to be recoverable in Alaska's Arctic National Wildlife Refuge, remains off limits -- as a nature conservation measure -- even as President George W. Bush renews his calls for drilling there. North Dakota, already crisscrossed by farm roads, is open for business.

As traditional oil fields become scarce, exploration companies must tackle trickier ones to stay in business. Their success will determine when the world reaches peak oil -- the high point in production after which new supply will no longer be there to slake new demand. It's a gloomy concept. Peak oil theorists predict the mother of all oil shocks, complete with famine and wars for energy.




For decades, the Bakken was the fool's gold of the oil industry. The name describes a geological formation that looks like an Oreo cookie: two layers of black shale that bleed oil into the middle layer of dolomite. It's named after Henry O. Bakken, the North Dakota farmer who owned the land where the first drilling rig revealed the shale layers in the 1950s.

All of the layers are thin -- about 150 feet altogether -- and none of them give up oil easily. In older, vertical wells, oil would often flow for a month and then fizzle.

Now, companies like Austin, Texas-based Brigham Exploration Co.; Denver-based Whiting Petroleum Corp.; and EOG are drilling horizontally. They go straight down 10,000 feet and then put a slight angle in the mud motor, a 30-foot piece of tubing that drives the bit, so they hit the Bakken sideways, making a horizontal tunnel 4,500 feet long through the dolomite.

That exposes more of the oil-bearing rock. Then they pump pressurized water and sand into the hole to fracture the dolomite, making cracks for oil to seep through.

klamath
07-03-2008, 07:58 PM
The tar sands of Canada are another huge source of oil. If the price stays up all these will become viable.

priest_of_syrinx
07-04-2008, 08:47 AM
I've been hearing about the Bakken shale for a long time now, being a good part of it is in North Dakota.

There was one man whose farmland was bought by the company drilling for oil. When his first monthly check arrived, he called the company and said, "I think you added a few too many zeroes on this check."

Nope. The monthly checks he is getting are each for $2 million. There is some serious stuff up here.

torchbearer
07-04-2008, 11:37 AM
I found some more info on the Bakken field which started this thread. Looks like they will definately have to employ some horizontal drilling (that must be some feat- drill a hole down and then suddenly turn and drill horizontally! Do they create a pocket where they can send somebody down to attach bits and posts in the different direction? just curious how that works!). Anyhow- it is apparently a very wide but not very deep pool (actualy collection of pools as most oil fields are)- only averaging 22 feet deep and two miles underground. They have had troubles with continuous flows in the past- they eventually stopped for a while. The US Geological Survey estimates 4.3 billion barrels are recoverable with today's technology. Other estimates have been as high as 413 billion barrels. We use about 7 billion barrels a year. ANWR estimates are around 10 billion barrels.
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=ayj1uo_gdNI4

Selected parts of the article:



Directional drilling is done from the platform, there isn't anything tricky or dangerous about it.

History:

History
Many prerequisites enabled this suite of technologies to become productive. Probably the first requirement was the realization that oil wells (or water wells, but since they are shallower, most development was in the oil industry) are not necessarily vertical. This realization was quite slow, and did not really grasp the attention of the oil industry until the late 1920s when there were several lawsuits alleging that wells drilled from a rig on one property had crossed the boundary and was penetrating a reservoir on an adjacent property. Initially, proxy evidence such as production changes in pre-existing wells was accepted, but such cases fuelled the development of small diameter tools capable of surveying wells as (or during) their drilling.

Measuring the inclination of a wellbore (its deviation from the vertical) is comparatively simple—one needs a pendulum of some sort. But measuring the azimuth (direction with respect to the geographic grid in which the wellbore is running from the vertical) was more difficult. In certain circumstances magnetic fields could be used, but could be influenced by metalwork used inside wellbores, as well as the metalwork used in drilling equipment. The next advance was in the modification of small gyroscopic compasses by the Sperry Corporation, who were making similar compasses for aeronautical navigation. Sperry did this under contract to Sun Oil (who were involved in a lawsuit as described above), and a spin-off company "Sperry Sun" was formed, which brand continues to this day, absorbed into Halliburton.

Prior experience with rotary drilling had established several principles for the configuration of drilling equipment down hole ("Bottom Hole Assembly" or "BHA") that would be prone to "drilling crooked hole" (initial accidental deviations from the vertical would be increased). Counter-experience had also given early directional drillers ("DD's") principles of BHA design and drilling practice which would help bring a crooked hole nearer the vertical.

Combined, these survey tools and BHA designs made directional drilling possible, but it was perceived as arcane. The next major advance was in the 1970s, when downhole drilling motors (aka mud motors, driven by the hydraulic power of drilling mud circulated down the drill string) became common. These allowed the bit to be rotated on the bottom of the hole, while most of the drill pipe was held stationary. Including a piece of bent pipe (a "bent sub") between the stationary drill pipe and the top of the motor allowed the direction of the wellbore to be changed without needing to pull all the drill pipe out and place another whipstock. Coupled with the development of MWD (using mud pulse telemetry or EM telemetry, which allows tools down hole to send directional data back to the surface without disturbing drilling operations), directional drilling became easier. Certain profiles could not be drilled without the drill string rotating at all times.

The most recent major advance in directional drilling has been the development of a range of Rotary Steerable tools which allow three dimensional control of the bit without stopping the drill string rotation. These tools [Revolution] from Weatherford Drilling Services,Well-Guide from Gyrodata, PowerDrive from Schlumberger, AutoTrak from Baker Hughes, PathFinder, GeoPilot & EZ-Pilot from Sperry Drilling Services/Halliburton) have almost automated the process of drilling highly deviated holes in the ground. They are costly, so more traditional directional drilling will continue for the foreseeable future.

Until recently the drive toward reducing the high cost of these devices has been led from outside the "Big Three" oilfield service companies by entrepreneurs and inventors working essentially alone. With a recent acquisition by Halliburton, this is gradually changing and the drive to introduce a viable low-cost Rotary Steerable System is on.

Matt Collins
07-04-2008, 02:09 PM
There was one man whose farmland was bought by the company drilling for oil. When his first monthly check arrived, he called the company and said, "I think you added a few too many zeroes on this check."

Nope. The monthly checks he is getting are each for $2 million. There is some serious stuff up here.Sheesh.... I wouldn't know what to do with myself.

torchbearer
07-04-2008, 06:03 PM
Sheesh.... I wouldn't know what to do with myself.

My family land, a total of about 1000 acres is about to go into production in the next 5 years.
My part will be small, but since these wells are normally long time producers, my share will go up over time.

Matt Collins
07-04-2008, 09:54 PM
My family land, a total of about 1000 acres is about to go into production in the next 5 years.
My part will be small, but since these wells are normally long time producers, my share will go up over time.Need a (business) partner? :D

SeanEdwards
07-04-2008, 10:11 PM
The Republic of Montana would be land locked unlike Hong Kong which means they are not even remotely similar.

Switzerland is land locked, and mostly consists of glaciers and uninhabitable mountains, but they seem to do ok.

torchbearer
07-05-2008, 09:36 AM
Switzerland is land locked, and mostly consists of glaciers and uninhabitable mountains, but they seem to do ok.

Yeh, with air travel, landlocked is a thing of the past.

Matt Collins
07-05-2008, 11:57 AM
Yeh, with air travel, landlocked is a thing of the past.Except you still have to have agreements to fly over other State's airspace. When you fly from Florida to Columbia you have to go hundreds of miles out of the way because US aircraft do not have permission to fly over Cuban airspace.

JosephTheLibertarian
07-05-2008, 12:13 PM
Hmmmmm.... Indian territory. This ought to be interesting.

They now have another thing to make them rich, two fold. dem indians sure have it better than indigenous peoples in other countries.

torchbearer
07-08-2008, 02:38 PM
Interesting information, Torchbearer. Sounds like yields are low but you are still able to get more oil out.

Yields are low as a per day average, but not overall. in fact, they can get more oil out of the ground with the horizontal drilling, just at a slower rate.

Like I said earlier, they have developed in Louisiana a technique by which, with one platform, the can drill out in many directions and have a huge flow per day coming in from all directions.
Instead of a pocket of oil, its droplets of oil throughout the shale layer.
The horizontal well allows for more of the shale area to be tapped at one time.
Our planet is saturated with oil. just not always concentrated into small pockets.

nobody's_hero
07-08-2008, 03:14 PM
If I remember correctly, the Lakota Nation has no standing army, and all of our troops are overseas; I think it would be a fair fight.

But, one that I would protest against fiercely.

torchbearer
07-08-2008, 03:16 PM
If I remember correctly, the Lakota Nation has no standing army, and all of our troops are overseas; I think it would be a fair fight.

But, one that I would protest against fiercely.
Our government would simply grant their favored oil company the rights to steal the shale oil by drilling from off the Lakota Nation, they will have the well go into the Lakota Nations oils without them even knowing it, or having anyway of finding out.

Uriel999
07-08-2008, 03:24 PM
So my dad worked in the oil business for over a decade and I talked to him about this over the weekend. Essentially with shale he said that because of the high prices and the higher it goes shale oil becomes viable.