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USGS Assesses Bakken Formation to Hold 3 to 4.3 Billion Barrels...25 Times More Than 1995 Estimate
www.greencarcongress.com ^ | 04/11/2008 | Staff

Posted on 04/11/2008 7:15:35 AM PDT by Red Badger

Map showing Williston Basin Province boundary (in red), Bakken-Lodgepole Total Petroleum System (TPS) (in blue), and major structural features in Montana, North Dakota, and South Dakota

North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation of the Williston Basin, according to a just-released assessment by the US Geological Survey (USGS). This latest assessment shows a 25-fold increase in the amount of oil that can be recovered compared to the agency’s 1995 estimate of 151 million barrels of oil.

The assessment also identified 1.85 trillion cubic feet of associated/dissolved natural gas, and 148 million barrels of natural gas liquids.

New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and recent oil discoveries have resulted in these substantially larger technically recoverable oil volumes. About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.

Technically recoverable oil resources are those producible using currently available technology and industry practices. The USGS Bakken study was undertaken as part of a nationwide project assessing domestic petroleum basins using standardized methodology and protocol as required by the Energy Policy and Conservation Act of 2000.

The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest continuous oil accumulation ever assessed by the USGS. A continuous oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest continuous oil accumulation in the US is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.

The USGS estimate of 3.0 to 4.3 billion barrels of technically recoverable oil has a mean value of 3.65 billion barrels. Scientists conducted detailed studies in stratigraphy and structural geology and the modeling of petroleum geochemistry. They also combined their findings with historical exploration and production analyses to determine the undiscovered, technically recoverable oil estimates.

USGS worked with the North Dakota Geological Survey, a number of petroleum industry companies and independents, universities and other experts to develop a geological understanding of the Bakken Formation. These groups provided critical information and feedback on geological and engineering concepts important to building the geologic and production models used in the assessment.

Five continuous assessment units (AU) were identified and assessed in the Bakken Formation of North Dakota and Montana: the Elm Coulee-Billings Nose AU, the Central Basin-Poplar Dome AU, the Nesson-Little Knife Structural AU, the Eastern Expulsion Threshold AU, and the Northwest Expulsion Threshold AU.

At the time of the assessment, a limited number of wells have produced oil from three of the assessments units in Central Basin-Poplar Dome, Eastern Expulsion Threshold, and Northwest Expulsion Threshold. The Elm Coulee oil field in Montana, discovered in 2000, has produced about 65 million barrels of the 105 million barrels of oil recovered from the Bakken Formation.

Resources

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Pollastro, R.M., Cook, T.A., Roberts, L.N.R., Schenk, C.J., Lewan, M.D., Anna, L.O., Gaswirth, S.B., Lillis, P.G., Klett, T.R., and Charpentier, R.R., 2008, Assessment of undiscovered oil resources in the Devonian-Mississippian Bakken Formation, Williston Basin Province, Montana and North Dakota, 2008: U.S. Geological Survey Fact Sheet 2008–3021 *

Technology-Based Oil and Natural Gas Plays: Shale Shock! Could There Be Billions in the Bakken? (US EIA)


TOPICS: Business/Economy; US: Idaho; US: Montana; US: North Dakota
KEYWORDS: bakken; energy; fuel; oil; pollution; shaleoil
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To: quadrant
Well, between the treaties with those tribes, the Treaty of Guadalupe (1848), and the Gadsen Purchase, the latter two including payments to Mexico which exceeded the per square mile payment for either the Louisiana Purchase or Seward's Folly (Alaska) by at least a factor of two, I'd say the Aztlan crowd are thugs without an historical leg to stand on.

The treaties with Mexico were ratified by their Assembly, too.

81 posted on 04/13/2008 4:47:13 AM PDT by Smokin' Joe (How often God must weep at humans' folly.)
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To: Smokin' Joe
I agree with your conclusions. However, Aztlan supporters - and many in Mexico itself - do not. They believe the treaties were unfair and forced on Mexico. Of course, such conclusions are silly, but the power of myth is strong and tends to fly in the face of history.
82 posted on 04/13/2008 7:51:29 AM PDT by quadrant
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To: CedarDave

“And no doubt the environmentalists are scouring the countryside looking for some rare plant or animal to list as endangered and will demand protection from drilling for the entire region. Let them all freeze in a North Dakota winter.”

In a logical world, this would be easy. Those that support drilling the region can buy the output. Those against it, can’t. Simple as that. Sign up for which group you want to be in now.

That would be a real test of the environazi’s committment to their ideals.


83 posted on 04/13/2008 7:54:15 AM PDT by brownsfan (Algore makes P.T. Barnum look like a piker.)
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