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CRUDE-BY-RAIL IN NORTH AMERICA
Lorne Stockman – Research Director
www.priceofoil.org
WWW.PRICEOFOIL.ORG/RAIL
US CRUDE-BY-RAIL AND BAKKEN GO HAND IN HAND
Dec. 2009. EOG loads 1st Unit Train in Stanley, ND.
HOW MANY TRAINS?
• Currently: one million bpd = ~135 crude oil trains of 100 cars = ~9 million barrels of oil moving thru N. America at any given time
• If all capacity was used: 5 million BPD = ~675 trains with 100 cars each = ~45 million barrels of oil
TERMINAL CAPEX IS LOW TO REALLY LOW
SHIPPER COSTS Pipeline Costs Stages Rail Costs Stages Gathering to mainline Gathering to terminal Line Fill Loading
Main Tariff Rail Freight Tank Car Lease
Local Distribution Unloading Committed/Uncommitted Unit/Manifest
$6-18/bbl $8-30bbl
ALL ABOUT THAT SPREAD
CANADIAN CRUDE-BY-RAIL GROWING BUT…
- 20,000 40,000 60,000 80,000
100,000 120,000 140,000 160,000 180,000 200,000
Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14
CANADIAN TAR SANDS LOADING TERMINALS STILL DEVELOPING
CANADIAN CAPACITY UTILIZATION IS VERY LOW
PIPES MATTER
WWW.PRICEOFOIL.ORG/RAIL
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