It is estimated that there is are significant reservoirs of oil shale beneath the
Bakken's 200,000 square miles (520,000 km?). There were first discovered in 1951, but
have long frustrated efforts to extract oil. An April 2008 USGS report estimated the
amount of technically recoverable in the Bakken Formation at 3.0 to 4.3 billion barrels,
with a mean of 3.65 billion. The state of North Dakota also released a report that month
which estimated that there are 2.1 billion barrels of technically recoverable oil in the
Bakken. See Also: Williston Basin
Wed, 16 May 2012 23:04:21 CDTViewed: 97 times. NEW YORK - Occidental Petroleum was among the first major U.S. oil drillers to make a big bet on the resurgence of domestic production, spending billions to grab oil patches from Texas to North Dakota. Now, as it bemoans steep costs and moves its rigs out of the Bakken shale oil fields, some analysts wonder if the company has lost its clairvoyance. After two years of unyielding gains
Tue, 15 May 2012 16:28:18 CDTViewed: 149 times. North Dakota is pumping so much oil out of the Bakken region that it now trails only Texas in crude oil production. The Forum of Fargo-Moorhead reports that North Dakota has passed Alaska into the No. 2 spot. North Dakota was ranked No. 8 in the nation just six years ago. The state produced an average of 575,490 barrels of crude every day in March and had 6,636 wells that month. Both were records, state officials said. Alaska's production slipped to 567,481 barrels per day in March. North Dakota
Tue, 15 May 2012 08:15:00 CDTViewed: 108 times. Black Ridge Oil & Gas, Inc. (formerly known as Ante5, Inc.) (OTCBB:ANFC) today announced reported revenues of $666,206 and EBITDA of $239,516 for the quarter ended March 31, 2012. The revenue is driven by oil & gas production from Black Ridge's 37 gross (1.12 net) producing Bakken and Three Forks wells as of March 31, 2012, representing a 65% increase over 24 gross (0.68 net) producing wells as of December 31, 2011.
Mon, 14 May 2012 23:26:22 CDTViewed: 60 times. The Bakken oil play is attracting international attention, not just from job seekers, but investors as well. The Williston Basin Petroleum Conference is expecting a record number of people, and they`re bringing new workshops and sessions this year.
Mon, 14 May 2012 16:16:00 CDTViewed: 159 times. TORONTO , April 2, 2012 /CNW/ - Dean Capital Group, a private equity investment firm that focuses on the mid-stream and up-stream oil and natural gas sector, announced that it has acquired a large acreage
Mon, 14 May 2012 10:32:50 CDTViewed: 37 times. WPX Energy (NYSE: WPX) has completed its $306 million sale of assets in the Barnett Shale and Oklahoma to New York-based investment firm Kohlberg Kravis Roberts & Co. LP. KKR announced in April that it was acquiring 27,000 acres in the Barnett Shale of North Texas from WPX, which is based in Tulsa, Okla. "In terms of our asset portfolio, we will continue to emphasize the development of our oil and liquids-rich areas in the Bakken Shale and Piceance Basin where we have nearly 300,000 acres combined,"
Thu, 10 May 2012 07:34:00 CDTViewed: 76 times. X-Change Corporation announced today through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas that it is purchasing 16,000 acres in Roosevelt County, NE Montana Bakken formation area.
Tue, 08 May 2012 05:59:31 CDTViewed: 71 times. HollyFrontier Corp., the Dallas-based oil refinery operator, reported that its earnings more than doubled in the first quarter to $16.5 million, or 60 cents per share. The Wall Street Journal reported that HollyFrontier (NYSE: HFC) posted revenue of $63.5 million in the first-quarter, an increase of 41 percent. The company said it had benefited from increased oil production in the Bakken region of North Dakota and the Permian Basin of Texas, which improved HollyFrontier's refinery margin, the Journal
Tue, 08 May 2012 03:40:00 CDTViewed: 19 times. GMX RESOURCES INC. NYSEGMXR announces that the Company has successfully drilled and completed its fifth operated horizontal Bakken well the Akovenko 24341H 66 working interest located in Se
Mon, 07 May 2012 16:07:04 CDTViewed: 132 times. GMX RESOURCES INC., , today announces that the Company has successfully drilled and completed its fifth operated horizontal Bakken well, the Akovenko 24-34-1H, 66% working interest, located
