Oil Transportation Market Development - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Oil Transportation Market Development

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An increase in production in the Bakken is leading to more possibilites for the future of Western North Dakota.

Gary Brode has more on what's in store for the future of oil transportation in this week's Eye on Energy.

North Dakota's crude oil production continues to increase.

Which means transportation for that oil needs to increase also and so the question many in the oil production field are asking is...

(Justin Kringstad, Director, North Dakota Pipeline Authority) "How do we bring this North Dakota light sweet oil and get it connected to those refineries that we may have to had access to in previous years."

Something on the minds of many at the Bakken Investor Conference this past weekend.

Hundreds were in attendance, many looking to get become a part of one of the richest areas in the country.

(Eric Schaefer, Senior Business Specialist, Enbridge) "The market right now continues to surprise...production in North Dakota continues to rise, so Enbridge North Dakota is continuing to expand our system to meet those demands of the additional North Dakota region.

With increased production, comes increased expectations.

Kringstad believes growth will continue for the next 5-10 years.

Transportation of oil is done by railroad and pipeline

As of now, 71% of oil is moved by railroad, but Enbridge believes in the need for pipeline.

(Eric Schaefer, Senior Business Specialist, Enbridge) "We see the need for more export capacity via pipeline out of the Bakken region to supply the mid-American refineries that are going to be demanding the light oil crude to get to them."

That can has been made clear by the companies actions as of late.

Enbridge recently completed two projects adding 225,000 barrels of export capacity.

Even looking to double that addition with a billion dollar project.

It seems many companies are enjoying the riches of the Bakken, not just Enbridge.

(Justin Kringstad, Director, North Dakota Pipeline Authority) "I think it's a win-win. We're finding refineries on the coastal areas that traditionally did not have Bakken access and now have it. They are really enjoying the way our crude oil is refining in their systems. So it's a win-win, were going into production and we're finding markets that have a large desire for our crude oil."

When it comes to energy development in North America, all roads lead to the Bakken.

In Minot, Gary Brode, KX News

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