North Dakota study finds Bakken crude no different than other grades

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Energy News

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North Dakota study finds Bakken crude no different than other grades
by Daniel J. Graeber
Washington (UPI) May 21, 2013

Hercules Offshore rig to be central part of expansion program in North Sea
Houston (UPI) May 21, 2013 - U.S. rig company Hercules Offshore said it signed a $420 million contract with the North Sea subsidiary of Maersk Oil to develop the region's Culzean oil field.

"This opportunity further demonstrates our worldwide capabilities and expands our operational footprint to the North Sea with a leading operator in the region," Hercules Chief Executive Officer John Rynd said in a statement Tuesday. "The rig will operate in the central North Sea to develop Maersk Oil's high profile Culzean field."

The rig will be rated for operating in 400 feet of water and have accommodations for up to 150 personnel.

Danish energy company Maersk confirmed a discovery at the Culzean field in 2011. At the time, it said the field may be "one of the most promising" finds made in the British waters of the North Sea in recent years.

Maersk said Wednesday its first quarter 2014 shares of oil and gas production was 256,000 barrels of oil equivalent per day, a 7 percent increase year-on-year.

The American Petroleum Institute said it's important to "separate fact from fiction" when it comes to shipping crude oil from North Dakota by rail.

The North Dakota Petroleum Council published a study Tuesday that shows crude oil taken from the Bakken reserve area in the state is similar to other grades of oil from North America. It does not, as the U.S. Department of Transportation suggests, pose a greater risk when transported by rail, the council said.

"Bakken crude does not significantly differ from other crude oils and poses no greater risks than other flammable liquids authorized for rail transport," Kari Cutting, vice president of the NDPC, said in a statement.

U.S. regulators in January issued an advisory warning Bakken crude oil may be more prone to catch fire than other grades.

An accelerating rate of oil production from states like North Dakota has stressed existing pipeline capacity. Industry officials said rail is taking up the slack, though a series of derailments involving rail cars carrying crude oil has raised safety questions.

API President Jack Gerard said the NDPC study eliminates some of the speculation surrounding Bakken crude.

"It is essential to separate fact from fiction as we work to enhance the safe transportation of crude oil," he said in a Tuesday statement.

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