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 oil consumption.
“Technically recoverable” means that the oil and/or gas can be produced using currently available technology and industry practices. This is regardless of any economic or accessibility considerations.
Traditional oil fields extract oil from rocks with relatively high porosity and permeability, so the oil flows out fairly easily.
Environmental issues include:
The USGS provides estimates of undiscovered, technically recoverable resources that have yet to be found (drilled), but if found, could be produced using currently available technology and indu
The USGS estimates that there may be 4.4 to 11.4 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation (with a mean estimate of 7.4 billion barrels). These are estimates of oil that has yet to be found, but if f