Bakken Shale News, Updates, and Information

The Bakken Formation in North Dakota lies inside the borders of the Williston Basin. The Bakken is affectionately referred to as the “Pork Chop by folks in the industry. The USGS has estimated recoverable oil reserves in the Bakken and Three Forks Formations to be between 4 and 6 Billion barrels of oil. However, industry professionals peg the current recoverable reserves at approximately 24 Billion barrels with today’s technology. This is a staggering number but even more staggering is the projected original oil in place (OOIP) at 400-500 Billion barrels! The USGS is conducting more research and will be publishing their revised estimate in October 2013. Check this section regularly for news, updates, and information. Also, check out the other Bakken resources on this site such as jobs, hotels, and other resources.

The Bakken and Three Forks Plays in Western North Dakota and Eastern Montana continue to break oil and gas production and rig count records, as shown in the latest director’s cut released by the North Dakota Department of Mineral Resources. The continuing conversation with regard to increased production (558,254 barrels per day from 6,726 producing wells in February) is the depressed……read more

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The rig count in North Dakota has leveled off significantly in the past few weeks, hovering around 205 active drilling rigs. With thousands of more acres to protect and wells to drill, many are asking: “Why has the rising number of rigs stopped?” There are many schools of thought on this matter…….click here to continue reading

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Alberta Bakken Exploratory Wells In Montana = Mixed Results

March 30, 2012

Glacier County Montana, specifically the Blackfeet Indian Reservation, has seen a flurry of oil activity over the last three years. Several companies, including Newfield Exploration, Rosetta Resources, and Anschutz Exploration, have been drilling exploratory wells. Primary Petroleum is the largest leaseholder in the area. We know there is oil being produced from some of these […]

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The Bakken Oil Field: Have The Edges Been Found?

March 21, 2012

In 2010, Whiting Oil and Gas drilled exploratory wells in the area of Belfield, ND just west of Dickinson. These wells were considered “wildcats” or wells drilled a distance away from known horizontal oil production. The sentiment in the industry was that if these wells were economic producers, thousands upon thousands of acres would open […]

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TransCanada Keystone XL Project May Bypass Federal Review

February 22, 2012

TransCanada seems to be clinging to an idea they once scoffed at – shipping crude out of the Bakken oil field of North Dakota and Eastern Montana. TC needs Federal State Department approval because the pipeline will cross the international boundary between the US and Canada. However, if the pipeline does not cross the border, the […]

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North Dakota Bakken Oil Production Overtakes OPEC Member

January 10, 2012

According to this article published today at Bloomberg, and a statement released by the North Dakota Department of Mineral Resources, North Dakota’s Bakken Oil Field Production has overtaken that of OPEC member country, Ecuador. According to Lynn Helms, the director of the ND DMR, “Oil production in the State has increased anywhere from 8,000 to 40,000 barrels per […]

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The North Dakota Bakken Oil Field: Does Anyone Need a Job?

December 24, 2011

As we approach the Holidays, no doubt there are some folks out there who are hurting because of the economy. Some may be under employed or even jobless. When I hear the heart-breaking stories, I can’t help but think of the risks my ancestors took coming to this great country. If you decided to pack […]

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The Bakken Oilfield: Railroads Have Significant Upside

December 20, 2011

I wrote an article recently outlining pipeline companies pursuing pipeline by rail models due to flexibility and relatively low barrier to entry. Since then, I have received several questions regarding what these opportunities mean for the Railroads’ revenues. BNSF Railway has the most modern, highest speed, and accessible railroad in the Bakken region. Although others come […]

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Hydraulic Fracturing Moratorium Implications

December 16, 2011

Recently, the director of the North Dakota Department of Mineral Resources, Lynn Helms, was profiled in an article in the Bismarck Tribune where he appeared to indicate his prediction that the EPA was on track to halt hydraulic fracturing by January. The prediction stems from a non-peer reviewed study by the EPA, which implies fracturing […]

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Pipelines Considering Crude By Rail Opportunities Out of The Bakken

December 7, 2011

Enbridge  announced today their plans to increase pipeline capacity for Bakken crude into Berthold, ND by 80,000 barrels per day. What’s interesting is that those additional 80,000 barrels per day do not have an outlet via pipeline. This 80,000 barrel inbound capacity will have to be matched by an outbound transportation mode: in this case, […]

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