Posted on 04/10/2008 11:30:14 AM PDT by reluctantwarrior
Using a geology-based assessment methodology, the U.S. Geological Survey estimated 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 Province, Montana and North Dakota.
(Excerpt) Read more at pubs.usgs.gov ...
http://www.freerepublic.com/focus/f-news/1998772/posts
http://www.freerepublic.com/focus/f-news/1936960/posts
http://www.freerepublic.com/focus/f-news/1960526/posts
http://www.freerepublic.com/focus/f-news/1672249/posts
This is the report not the news about the report
There are plenty of bogus numbers floating around when it comes to oil. Always has been so, probably always will be. Plenty of bogus characters, too.
Nope....the Bakken Formation has been known since the 50's.......
I think we would all feel better if there was a report that the Bakken formation held not just 500 billion barrels but 500 trillion barrels!
Just keep adding zeros to the reports and our gas prices will begin to fall by that day when Santa Claus brings everybody gifts.
There’s more. This is a big formation. Manatoba’s portion has 25B reserves. Not sure what has happened between the USGS 1995 estimate of 151 BB and today’s 3.5B?
Bismarck, N.D. (AP) Sen. Byron Dorgan says the U.S. Geological Survey is slated to release a study this week on the oil potential of the area known as the Bakken formation.
The shale formation encompasses some 25,000 square miles in North Dakota, Montana, Saskatchewan and Manitoba.
Dorgan says the study is to be released Thursday. He says it will estimate the amount of oil that is recoverable in the Bakken using current technology.
In 1995, the Geological Survey estimated the amount of recoverable oil in the Bakken at 151 million barrels.
I looked at the report. How deep is this oil?............
Chief WhiteHalfOat and his people have already been kicked off their land.
most at greater than 10,000 from other reports and most requires horizontal drilling. 10k foot well 800,000 dollars 10k foot well with 90 degree drilling at 10k 3 million dollars
Thanks!
Not nearly as good as we thought it would be.
WLL, EOG, MRO, CLR, and BEXP
BAKKEN the Saddle Again!
I’m Bakken the saddle again
Out where a friend is a friend
Where the longhorn cattle feed
On the lowly gypsum weed
Bakken the saddle again
Ridin’ the range once more
Totin’ my old .44
Where you sleep out every night
And the only law is right
Bakken the saddle again
Whoopi-ty-aye-oh
Rockin’ to and fro
Bakken the saddle again
Whoopi-ty-aye-yay
I go my way
Bakken the saddle again
I’m Bakken the saddle again
Out where a friend is a friend
Where the longhorn cattle feed
On the lowly gypsum weed
Bakken the saddle again
Ridin’ the range once more
Totin’ my old .44
Where you sleep out every night
And the only law is right
Bakken the saddle again
Whoopi-ty-aye-oh
Rockin’ to and fro
Bakken the saddle again
Whoopi-ty-aye-yay
I go my way
Bakken the saddle again
I think that after more actual production data is scrutinized these numbers will be seen as absurdly conservative. MTF
Why the need for 90° drilling?......
I can’t find it but i seem to remember talking about this earlier in the week and the estimate was in the trillion barrels. the math worked out to about a 97 year supply.
ping
3.65B?
“the total amount of oil in the Bakken Formation have varied wildly over the years, from 10 billion barrels to 500 billion barrels. The higher estimate was done by Leigh Price, a USGS geologist who died in 2000 before his study was published.”
http://www.businessweek.com/ap/financialnews/D8VTDV9G0.htm
Without horizontal drilling, the formation would be virtually unproducible.
The formation isn’t very thick.
This only reference undiscovered oil? I was expecting a report about the quantity of the previously discovered field.
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