Report says total of 149 Billion barrels of oil in place within the Bakken Shale Formation.
EPS100Momentum's Blog
148 Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
Bakken Source System: Bakken Assessment
On April 28, 2008, three years after the discovery of the Parshall
Field, the North Dakota Department of Mineral Resources released
an assessment of the oil potential of the Bakken Formation
within the North Dakota portion of the Williston Basin (Bohrer
et al., 2008). The assessment concluded there were 149 billion
barrels of oil in place within the Bakken Formation of which 2.1
billion barrels could be expected to be produced using available
technologies (expected ultimate recovery). We anticipated
that the expected ultimate recovery would significantly increase
with time beyond our estimate of 1.4% due to advances in well
completion techniques.
New data in late 2010 says 8 billion barrels will be recoverable not the 2 billion that was originally estimated by North Dakota Department of Mineral Resources
While even more upbeat estimates say 24 billion :Continental Resources CEO Harold Hamm told UND students in December there may be as many as 24 billion barrels of recoverable oil in the Bakken and Three Forks.
On April 28, 2008, three years after the discovery of the Parshall
Field, the North Dakota Department of Mineral Resources released
an assessment of the oil potential of the Bakken Formation
within the North Dakota portion of the Williston Basin (Bohrer
et al., 2008). The assessment concluded there were 149 billion
barrels of oil in place within the Bakken Formation of which 2.1
billion barrels could be expected to be produced using available
technologies (expected ultimate recovery). We anticipated
that the expected ultimate recovery would significantly increase
with time beyond our estimate of 1.4% due to advances in well
completion techniques.
New data in late 2010 says 8 billion barrels will be recoverable not the 2 billion that was originally estimated by North Dakota Department of Mineral Resources
While even more upbeat estimates say 24 billion :Continental Resources CEO Harold Hamm told UND students in December there may be as many as 24 billion barrels of recoverable oil in the Bakken and Three Forks.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.