Platts to launch Bakken Blend assessments May 3

Following a period of industry feedback, Platts is planning to launch daily spot assessments for Bakken Blend crude injected at Guernsey, Wyoming, and Clearbrook, Minnesota, on May 3, 2010.

These assessments will be named Bakken Blend ex-Guernsey and Bakken Blend ex-Clearbrook. The Bakken Blend ex-Clearbrook assessment will reflect an API gravity ranging from 38-40 degrees and 0.5% sulfur, the same stream sometimes associated with the name North Dakota Sweet. The Bakken Blend ex-Guernsey assessment will reflect API gravity of 38-40 degrees and 0.2% sulfur, the same stream sometimes associated with the name North Dakota Light Sweet.

Trades with a minimum 1,000 b/d quantity will be taken into account for assessment, and smaller volumes will be normalized to this volume basis. Both assessments will reflect injection in the first forward month, and will roll over on the 20th of each month to the next forward month.

These assessments will be published as a differential to calendar-month average WTI for the month of injection, and as a fixed price. These assessments will be published on Platts Global Alert page 171 and 596, in Crude Oil Marketwire, North American Crude Wire, Oilgram Price Report and Platts Dispatch.

For further details, please send inquiries to Matthew Cook, matthew_cook@platts.com, Esa Ramasamy, esa_ramasamy@platts.com, and a cc to pricegroup@platts.com.