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Bakken Field Update – Advances in Oil Pump Technology

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#6704

Charles Randall
Participant

 
Bakken update – Advances in Oil pumping Technology enrich Eastern Montana
Billings Gazette 7/21/08  <See full article at link below:>
http://www.helenair.com/articles/2008/07/21/state/top/80st_080721_bakken.txt
 
This spring, the United States Geological Survey estimated that there are 3.6 billion barrels of recoverable oil using existing technology in Montana and North Dakota portions of the Bakken formation, which also extends into Saskatchewan and Manitoba. The whole oil-producing region is known as the Williston Basin.

As if that werent tantalizing enough, a USGS geochemist estimated eight years ago that the Bakken could contain more than 400 billion barrels of oil. Match either estimate with oil selling last week at around $130 a barrel and youve got a boom on your hands.

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