Platts has launched a new assessment representing the value of Bakken crude in the Williston Basin, effective April 22, 2014. This new assessment, Bakken, reflects the value of Bakken crude traded close to the wellhead at North Dakota terminals with the operational capability to move crude by rail or by rail/pipeline. The shift away from Bakken crude pipeline flows to crude-by-rail has established the need for price discovery at this transportation hub. Liquidity at the Platts assessed pipeline interconnection points for Bakken, ex-Clearbrook and ex-Guernsey, has declined as crude-by-rail transportation has grown. Rail movements in 2014 represent 70% of total Bakken production at 1 million b/d. Pipelines will still play a role thanks to several projects coming online by 2016. Both developments call for Bakken crude price discovery that represents transportation flexibility and the largest base of Bakken supply. The new Bakken assessment's timing will follow the Canadian pipeline schedule, due to Bakken's close proximity to Canadian-origin pipelines and the need for rail car-destined volumes to be secured promptly. This is also in line with Platts Bakken Blend ex-Clearbrook and ex-Guernsey assessment timings. In following this schedule, Platts will roll to the next month on the date pipeline nominations are due. Platts will typically follow the nomination due dates published by Crude Oil Logistics Committee on its website. For example, the Platts Bakken assessment on April 22, 2014, will reflect crude for delivery in June, and will roll to July when nominations are due in the second half of May, per the Crude Oil Logistics committee schedule. The Platts Bakken assessment will reflect the value of crude oil on a delivered North Dakota terminal basis in a delivery month. Title of the oil is transferred at the manifold flange into the terminal. The delivery method for this oil can be either by truck or via a pipeline gathering system. In this process, the buyer nominates the terminal, and the seller determines when the barrels will flow during the specified delivery month. This assessment reflects the value of Bakken crude with a sulfur of 0.2% maximum and API maximum of 42. The underlying volume for the Platts Bakken assessments reflects volume of 1,000 b/d, or 25,000 barrels. The Platts Bakken assessment will be published on Platts Global Alert pages 210 and 214, Platts Market Data, Crude Oil Marketwire, North American Crude and Products Scan, and Oilgram Price Report. Please send questions, suggestions, or comments to Americas_crude@platts.com, and firstname.lastname@example.org. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.