How long will it take to produce the volumes of oil and gas mentioned in the USGS report in the Bakken Formation?
We are unable to predict a time frame for possible production of any of the volumes we mention in our fact sheet but it is likely to be many decades.
How much oil does the Bakken Formation produce and how does this compare to what the United States uses?
The USGS does not maintain statistics on oil production or information on consumption. However, production information can be obtained from publicly available sources like the North Dakota Depart
Is it true that the USGS released a report that states 3 to 4.3 billion barrels of technically recoverable oil assessed in North Dakota and Montana's Bakken Formation - - 25 times more than 1995 estimate?
Yes, this information is true. The report was released in April 2008.
Oil is produced from the Bakken Formation in a manner that is a refinement of traditional oil field practice. Traditional oil fields produce from rocks with relatively high porosity and permeability, so oil flows out fairly easily.
We do not have any current information on drilling costs. Recovery of oil drilling and production costs vary by geographic location, the cost of drilling materials like pipe, and the demand for services at the time.
USGS resource estimates are different from oil reserves estimates. Undiscovered, technically recoverable resources are those resources that have yet to be found (drilled), but if found, could be produced using currently available technology and indust
Concerning future drilling plans, please contact the Montana Department of Natural Resources and Conservation, Board of Oil and Gas Conservation, and/or North Dakota Depar
For information on what companies are drilling or current drilling activity (lease ownership, who owns which wells, etc.) in the Bakken Formation, check with the North Dakota Department of Mineral
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