The future of drilling in the Gulf of Mexico is cloudy at best. The Minerals Management Service—the department responsible for issuing new oil and gas drilling permits in the Gulf of Mexico—is sending mixed signals on whether drilling will be allowed to continue in shallow waters. There already is a six-month moratorium on deepwater drilling.
Prior to BP's debacle, the Gulf of Mexico was producing about 1.6 million barrels of oil. That's 30% of our total production.
If the U.S. government follows through with an overall ban on offshore drilling in the Gulf of Mexico, it will have a devastating effect on our energy needs.
Regardless of how environmentally upset you are over BP's folly, the fact is that we need that oil. Without it, that's another 1.6 million barrels of oil we'll be begging the Saudis for. . .Or are we?
The spill has also created a perfect storm for certain investors. What you probably don't realize is that the oil spill is pushing onshore drilling activity to new heights.
Here's why. . .
North America Oil Secret
There's some unconventional wisdom floating around, and the herd is finally starting to catch wind of it.
While the fate of offshore drillers remains uncertain, the number of rigs drilling in North Dakota continues to grow. This week, approximately 125 active rigs are operating in the state.
Their target is the Bakken and Three Forks formation, located in the Williston Basin.
Nearly two years after the USGS released its assessment on the Bakken formation, which reported up to 4.3 billion barrels of oil were technically recoverable, it turns out that the Three Forks formation (located beneath the Bakken) could potentially double the state's oil reserves.
In other words, each company drilling in the Bakken now has a second target on the books. And the best part is that a handful of companies are increasing their efficiency.
Unfortunately, that secret is leaking worse than the oil spill.
The good news, however, is that you can still get a piece of the action before the herd. I've prepared this free bonus report, giving you my favorite Bakken-Three Forks stock operating in North Dakota today.
You don't want to sit this round out.
Keith Kohl
Editor, Energy and Capital
Prior to BP's debacle, the Gulf of Mexico was producing about 1.6 million barrels of oil. That's 30% of our total production.
If the U.S. government follows through with an overall ban on offshore drilling in the Gulf of Mexico, it will have a devastating effect on our energy needs.
Regardless of how environmentally upset you are over BP's folly, the fact is that we need that oil. Without it, that's another 1.6 million barrels of oil we'll be begging the Saudis for. . .Or are we?
The spill has also created a perfect storm for certain investors. What you probably don't realize is that the oil spill is pushing onshore drilling activity to new heights.
Here's why. . .
North America Oil Secret
There's some unconventional wisdom floating around, and the herd is finally starting to catch wind of it.
While the fate of offshore drillers remains uncertain, the number of rigs drilling in North Dakota continues to grow. This week, approximately 125 active rigs are operating in the state.
Their target is the Bakken and Three Forks formation, located in the Williston Basin.
Nearly two years after the USGS released its assessment on the Bakken formation, which reported up to 4.3 billion barrels of oil were technically recoverable, it turns out that the Three Forks formation (located beneath the Bakken) could potentially double the state's oil reserves.
In other words, each company drilling in the Bakken now has a second target on the books. And the best part is that a handful of companies are increasing their efficiency.
Unfortunately, that secret is leaking worse than the oil spill.
The good news, however, is that you can still get a piece of the action before the herd. I've prepared this free bonus report, giving you my favorite Bakken-Three Forks stock operating in North Dakota today.
You don't want to sit this round out.
Keith Kohl
Editor, Energy and Capital
