Bakken Midstream gains ND investment, eyes shale gas development
By Bakken Midstream | June 18, 2019
The oil and gas industry can be segmented into three essential pieces; upstream, midstream and downstream. Upstream is the first of the pieces in terms of chronological order. Upstream companies, also known as exploration and production companies, are responsible for finding and extracting oil and gas. Midstream companies then are responsible for processing, storing, and transporting of oil and gas as well as all byproducts such as produced water from the oil and gas wells to the downstream companies and the consumers. Downstream companies are closest to the consumer in the process in that these companies further process, refine and ultimately distribute oil and gas to the end consumer.
The Bakken has infrastructure to handle oil and produced water but lacks substantial infrastructure to handle natural gas. Currently oil and gas producers are not supposed to flare any more than 12% of natural gas, however last month North Dakota flared a little over 18%. An increase in infrastructure in the area would allow gas to be transported and processed more economically, which would help North Dakota reach its flaring goals as well provide economical advantageous in terms of employments and business opportunities.