Category Archives: Business

Energy in the US: Where are the Largest Oil Deposits?

The United States has proven oil reserves in excess of 36 billion barrels. There’s also an estimated 198 million barrels of recoverable oil still undiscovered. There are several very productive sites throughout the United States where oil companies are tapping into those reserves with great results. In 2012 oil production rose by 800,000 barrels as more companies got involved in drilling for oil in the U.S. It was the largest increase in oil production in a single year ever recorded. Industry analysts say the U.S. could potentially surpass Saudi Arabia and become the largest oil producer in the world.

The Illinois Basin
The Illinois Basin is another region of the United States where there are large oil deposits being accessed by oil companies. Since 1905 when major oil production began in the region, over four billion barrels of oil has been yielded. Cunningham Energy is one energy company that has had shallow leases there since 2008. They have a number of very productive wells and offer a variety of oilfield equipment and services including the drilling of horizontal and vertical wells. Cunningham Energy plans to increase its oil production there.

Montana and North Dakoda
There are oil reserves all over the United States. The ability to get oil from shale has made Montana and North Dakoda major oil producing areas. Oil was discovered on the region’s Bakken Formation in 1951. There is potentially as much as 4.3 billion barrels in that area alone. Marathon Oil Corporation, EOG Resources and a number of other companies have large oilfield development holdings in the region.

Oil deposits offshore in the Gulf of Mexico is estimated to be as much as 115.1 billion barrels. BP and other major oil companies have been taking oil out of the region for years. The oil industry has helped to bolster the local economy significantly. And with such vast reserves drilling and other oil extraction efforts will continue in the region for a long time.

The Arctic

It has been estimated that the Arctic National Wildlife Refuge has about 16 billion barrels of recoverable that hasn’t yet been tapped. The National Petroleum Reserve–Alaska has 6.7 to 15.0 billion barrels. There also a large accumulation of oil in the Prudhoe Bay oil field where Exxon and other oil companies have been working. These regions offer high quality oil that easy to process into diverse oil, gas and other petroleum products.

Port Townsend Paper Earns Sustainability Honor

The Olympia, Washington-based Northwest Pulp & Paper Association (NWPPA) has presented its 2016 Environmental Excellence Award to Port Townsend Paper of Port Townsend, Washington.

In addition to consuming considerable amounts of recovered fiber, the Port Townsend Paper mill has, over the past 10 years, reduced greenhouse gas emissions from fossil fuels by nearly 60 percent, according to the company.

“Three hundred employees of Port Townsend Paper accomplished this,” says Colin Fernie, president of Port Townsend Paper and Crown Packaging. “We appreciate the recognition and are committed to continued environmental stewardship.”

Steve Klinger, Crown Paper Group CEO, adds, “When Crown Paper acquired the mill in 2015, we said we would invest to transform it into a high performing business. This award is a milestone in that transformation, and there are more milestones to come. We are optimizing our Maximum Achievable Control Technology (MACT) Standard boiler. We are accelerating settlement pond remediation. We are converting to compressed natural gas. Port Townsend Paper is on an upward trend.”

Read the full article.