Justin Kringstad, North Dakota Pipeline Authority, gives a State of the Pipeline in the Bakken. He gives an overview of crude oil and natural gas.
“We are coming out of a really tough winter,” Kringstad said. “Honestly it was extremely challenging as winter started in December.”
He said this created an environment where you could see a more focused and calculated approach to the marketplace.
“As we sit here today it’s $110 oil markets and 40 drilling rigs active in North Dakota,” Kringstad said. “You’d think there is a bit of a disconnect there. Five or ten years ago if we would have had $110 oil we would have expected to see rig counts approaching 100 if not higher.”
Inflation and labor concerns continue to be an issue in the pipeline world according to Kringstad.
“We are seeing costs of not only physical material, like steel, but also labor market and fuel,” Kringstad said. “Obviously if you are a midstream company putting a new pipeline in the ground, it’s a very heavy equipment driven.”
Kringstad believes there needs to be more natural gas pipeline capacity in the Bakken to satisfy many of the goals and aspirations by the state. Particularly in gas capture and emission management.
“Let’s focus on the flaring. We are seeing companies restrict production, they will chose to not bring a well online, they will delay it, they will do different strategies in order to keep gas capture well above the state’s targets,” Kringstad said. “There kinda a new level that the industry is setting up for themselves that are above and beyond what the state regulators are requiring.”
The interview also discusses what role carbon will play in the energy and pipeline sector.
Sponsors, Music and Other Show Notes
Studio Sponsor: The Industrial Forest
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