Oil production in the Bakken is currently averaging above 500,000 barrels per day and is expected to increase to one million barrels a day by the year 2020.
Woodland Hills, CA (PRWEB) September 17, 2012
Infocast, the leading business intelligence and networking events producer in the oil and gas industry, has announced its 3rd Annual Bakken Infrastructure Finance and Development Summit to be held on October 23-25, 2012 in Denver, CO.
Oil production in the Bakken is currently averaging above 500,000 barrels per day and is expected to increase to one million barrels a day by the year 2020. Due to the massive increase in Bakken production, available transportation capacity has been exceeded. The need for diesel-fueled trucks to haul materials, equipment and crude and refined products has overwhelmed the Bakken road infrastructure and increased diesel consumption. Because of this, oil producers have chosen to transport crude by rail, as it is considered to be a good complimentary solution to the oil industry.
The estimated crude rail shipments are at 300,000 bpd this year, which means more infrastructure will need to be built in order to move the expected daily production of 700,000 barrels by 2013. Many recent announcements for new midstream infrastructure are seeking industry support, but only the ones with the highest level of commitments from suppliers will get built.
Infocast’s 3rd Annual Bakken Infrastructure Finance and Development Summit is the business hub for infrastructure expansion to support the Bakken shale boom. The summit will provide the opportunity for E&Ps, transportation providers and infrastructure developers, government and local community representatives as well as capital providers to make deals happen with active Bakken players including: Alliance Pipeline, Bakken Oil Express, Deutsche Bank, Ensign Energy Services, Inc., U.S. Energy Information Administration (EIA), Union Pacific, Wells Fargo Energy Capital and many more.
For more information, to register for the summit or to join as a sponsor, visit the event website at http://www.infocastinc.com/bakken, or contact Infocast Events at 818-888-4444.
For over 25 years, Infocast has produced the highest quality events, tailored to the needs of the industries we serve. We intensively research the marketplace, pulling from an extensive network of experts to give you the information and connections to succeed.