Bakken News
August 28, 2008
Obama’s statement, released late Wednesday, says he “believes that drilling in the Bakken Shale is an important development for North Dakota’s economy” because of the substantial amount of oil that is estimated to be recoverable.
July 20, 2008
Indeed, the level of interest in the Williston Basin, and the booming nature of the oil business in general, is evidenced by this: At the time the Hartland 14X-26 well was being fractured, Lechner worked for Headington, a privately owned oil business. In mid-July, Headington’s Montana and North Dakota assets were sold to XTO Energy of Fort Worth, Texas, in a $1.8 billion deal. XTO has also entered into an agreement to buy Hunt Petroleum Corp. for about $4.2 billion.
Read the full Billings Gazette article here.
June 17, 2008
A single successful oil well tapped below the Bakken shale formation in western North Dakota has spurred speculation that a separate - and perhaps rich - oil-producing reservoir may be buried in the state’s oil patch.
Read more about the Three Forks-Sanish Formation discovery
May 23, 2008
The 16th Williston Basin Petroleum Conference was held in Minot, North Dakota, April 27-29, 2008. Below is a link to all of the very informative presentations on Bakken Oil from that event. Click on the title to view a presentation.
WBPC 2008 PowerPoint Presentations
May 14, 2008 - The Jamestown Sun
“The “Bakken play” could very well do it for North Dakota. The amount of wealth in oil that rests below the northwestern part of the state is so staggering, so far beyond North Dakota’s historic experience, that it’s hard to describe it.”
April 16, 2008 - Association for the Study of Peak Oil & Gas
“What makes the Bakken play possible? As LeFever says, “technology has finally caught up to the Bakken Formation.”
The U.S. Geological Survey estimates mean undiscovered volumes of 3.65 billion barrels of oil, 1.85 trillion cubic feet of associated/dissolved natural gas, and 148 million barrels of natural gas liquids in the Bakken Formation of the Williston Basin.
Read a summary of the report.
Read the USGS press release.
Listen to the USGS CoreCast.
April 10, 2008 - Kansas City Star
“The findings represent a 25-fold increase in the potential supply of “technically recoverable” oil since the Geological Survey last studied the region in 1995. Since then, advancements in drilling and the spiraling price of crude have generated a heightened interest in squeezing oil out of the formidable Bakken.”
Read more here about Bakken Oil and what all the fuss is about…
First The Wall Street Journal and now The New York Times. The world just may be waking up to the significance of horizontal drilling and the magnitude of the production potential from the Bakken Formation and domestic oil in Montana and North Dakota.
High Bakken Porosity