Bakken, Three Forks resources rise twofold in new USGS estimate

05/06/2013
The Bakken and Three Forks formations in North Dakota, South Dakota, and Montana hold an estimated mean of 7.38 billion bbl of undiscovered, technically recoverable crude oil, the US Geological Survey announced in an update. The updated assessment represents a twofold increase from the 2008 estimate of 3.65 billion bbl in the Bakken, USGS noted. The latest assessment, which includes the Three Forks for the first time, found the Bakken has a 3.65 billion bbl estimated mean resource—unchanged from 5 years ago—and Three Forks has an estimated mean 3.73 billion bbl. The formations' combined estimate ranges from 4.42 million bbl, with a 95% chance of production, to 11.43 billion bbl, with a 5%...
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