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Bakken Oil
USGS ^ | 04/10/2008 | USGS

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 ...


TOPICS: Business/Economy; US: North Dakota
KEYWORDS: bakken; energy; oil
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To: reluctantwarrior

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


21 posted on 04/10/2008 11:46:29 AM PDT by Red Badger ( We don't have science, but we do have consensus.......)
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To: Red Badger

This is the report not the news about the report


22 posted on 04/10/2008 11:48:04 AM PDT by reluctantwarrior (Strength and Honor, just call me Buzzkill for short......)
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To: reluctantwarrior

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.


23 posted on 04/10/2008 11:49:06 AM PDT by RightWhale (Repeal the Law of the Excluded Middle)
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To: RightWhale
Is this Breaking News?

Nope....the Bakken Formation has been known since the 50's.......

24 posted on 04/10/2008 11:50:39 AM PDT by Osage Orange (Molon Labe)
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To: reluctantwarrior

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.


25 posted on 04/10/2008 11:54:20 AM PDT by trumandogz ("He is erratic. He is hotheaded. He loses his temper and it worries me." Sen Cochran on McCain)
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To: gusopol3

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.


26 posted on 04/10/2008 11:58:11 AM PDT by zek157
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To: reluctantwarrior

I looked at the report. How deep is this oil?............


27 posted on 04/10/2008 11:59:25 AM PDT by Red Badger ( We don't have science, but we do have consensus.......)
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To: Holicheese

Chief WhiteHalfOat and his people have already been kicked off their land.


28 posted on 04/10/2008 12:00:42 PM PDT by steveyp
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To: Red Badger

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


29 posted on 04/10/2008 12:04:07 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzzkill for short......)
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To: patton

Thanks!


30 posted on 04/10/2008 12:04:52 PM PDT by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
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To: Smokin' Joe; thackney

Not nearly as good as we thought it would be.


31 posted on 04/10/2008 12:06:43 PM PDT by saganite
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To: reluctantwarrior
Here's the major players.......

WLL, EOG, MRO, CLR, and BEXP

32 posted on 04/10/2008 12:06:50 PM PDT by Osage Orange (Molon Labe)
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To: colorado tanker

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


33 posted on 04/10/2008 12:08:46 PM PDT by Red Badger ( We don't have science, but we do have consensus.......)
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To: Osage Orange

I think that after more actual production data is scrutinized these numbers will be seen as absurdly conservative. MTF


34 posted on 04/10/2008 12:09:52 PM PDT by reluctantwarrior (Strength and Honor, just call me Buzzkill for short......)
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To: reluctantwarrior

Why the need for 90° drilling?......


35 posted on 04/10/2008 12:09:53 PM PDT by Red Badger ( We don't have science, but we do have consensus.......)
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To: reluctantwarrior

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.


36 posted on 04/10/2008 12:11:48 PM PDT by lakeman
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To: thackney

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


37 posted on 04/10/2008 12:12:10 PM PDT by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
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To: Red Badger

Without horizontal drilling, the formation would be virtually unproducible.


38 posted on 04/10/2008 12:12:24 PM PDT by PSYCHO-FREEP (Juan McCain....The lesser of Three Liberals.")
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To: Red Badger

The formation isn’t very thick.


39 posted on 04/10/2008 12:13:23 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: saganite

This only reference undiscovered oil? I was expecting a report about the quantity of the previously discovered field.


40 posted on 04/10/2008 12:14:09 PM PDT by thackney (life is fragile, handle with prayer)
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