Is it close enough to Yellowstone to use geothermal to heat the water to soften it?
No.
Not an issue. This formation does not require heat for producing the oil. It does require modern drilling techniques that are now being used. Read more at the link:
Technology-Based Oil and Natural Gas Plays:
Shale Shock! Could There Be Billions in the Bakken?
http://tonto.eia.doe.gov/ftproot/features/ngshock.pdf