Bakken Shale

Bakken Shale ImageThe Bakken shale is primarily an oil play. It straddles the US border with Canada and runs through two states – North Dakota and Montana – and two Canadian provinces – Saskatchewan and Manitoba. The US Geological Survey estimates there are 3.65 billion barrels of recoverable crude oil in the Bakken, which would make it the largest oil field in the US outside Alaska. The Bakken is located in the Williston Basin, but not all of the basin includes the Bakken.

The Sanish-Three Forks area is located below the Bakken shale zone and is potentially another new oil reservoir. Brigham Exploration Co. has been active in this area. Natural gas is also found in some parts of the Bakken. The USGS estimates there is about 2.0 trillion cubic feet of gas and another 150 million barrels of natural gas liquids. Major players in the Bakken include EOG Resources, Continental Resources, and Enerplus Resources.

Bakken Shale Map

Bakken Shale News

FOCUS: UNCONVENTIONAL OIL & GAS: US expects tight oil production gains from Bakken, Eagle Ford

Sep 3, 2012

Producers report that better efficiencies are delivering higher volumes of oil from the South Texas Eagle Ford and the Bakken formation in North Dakota and Montana.

Statoil leases more than 1,000 railroad cars to carry Bakken crude

Aug 30, 2012

Statoil ASA said it has leased more than 1,000 railroad cars and plans to transport crude oil from the Bakken formation to refineries on the US East Coast and Gulf of Mexico and to Canada. Rail shipments are expected to start during September.

QEP to buy Helis-Black Hills Williston basin properties

Aug 24, 2012

QEP Resources Inc., Denver, said its QEP Energy unit signed definitive agreements to acquire from multiple sellers Williston basin development properties for $1.38 billion.

BLM releases EA for proposed North Dakota crude oil pipeline

Aug 20, 2012

The US Bureau of Land Management has released an environmental assessment of Bakkenlink Production LLC’s proposed crude oil pipeline across North Dakota and will accept public comments on it through Sept. 15, the agency’s Dickinson, ND, field office said.

Tesoro plans to move more Bakken crude by unit train

Aug 8, 2012

Tesoro Corp. plans to move 50,000 b/d of crude oil from the Bakken formation in North Dakota to its 120,000-b/cd refinery in Anacortes, Wash., by yearend, Chief Executive Officer Greg Goff said during a second-quarter earnings conference call.

Mississippi lime play sprawls northward into Nebraska

Aug 1, 2012

Horizontal wells in the US Midcontinent Mississippi lime oil play aren’t as productive as those in the Williston basin Bakken, but shallower depths and cheaper drilling costs are driving increased interest in the Mississippi lime, said IHS Inc.

Oneok to invest in Texas, North Dakota plants

Jul 27, 2012

Oneok Partners LP, Tulsa, will spend between $980 million to $1.1 billion through 2014 on several projects in southeastern Texas and North Dakota.

IHS: Eagle Ford shale compared favorably with Bakken formation

Jul 26, 2012

The Eagle Ford shale play in South Texas is a contender for the best tight oil play in the US based upon strong drilling results, large prospective area, and magnitude of resource potential, said a new report from IHS Inc.

Baker Hughes: Bakken formation, Eagle Ford shale drilling could slow

Jul 23, 2012

The pace of oil drilling could slow in the Bakken formation in North Dakota and also in the Eagle Ford shale in South Texas if US prices were to drop below $80/bbl for a sustained period, said Baker Hughes Inc.’s president and chief executive officer.

Statoil plans to triple North America production by 2020

Jul 2, 2012

Statoil plans to boost its US and Canada production to 500,000 boe/d by 2020 compared with its current 149,000 boe /d, and the company continues shifting its focus from natural gas toward more liquids-rich plays, executives told investors in New York on June 20.

North Dakota: Fort Berthold 3C-3D survey starting

Jun 13, 2012

3D Geophysical Inc., Houston, has reached agreement with the Three Affiliated Tribes of the Fort Berthold Reservation to conduct a three component 3D seismic survey covering 1000 sq miles of the reservation.

 

Rangeland ships first Bakken crude from rail terminal

Jun 11, 2012

Rangeland Energy LLC has shipped the first 120-car unit train from its COLT open-access crude oil marketing terminal in the North Dakota portion of the Bakken shale.

Mandan refinery expansion nearly complete

Jun 8, 2012

Tesoro Corp. expects to complete the expansion of its refinery at Mandan, ND, by the end of June, according to Greg Goff, president and chief executive officer.

Mild winter helps North Dakota boost oil production

May 25, 2012

A mild, dry winter during 2011-12 enabled producers to boost oil production from North Dakota’s Bakken formation in the Williston basin where advances in unconventional drilling continue to be made, according to Steve Carroll, ConocoPhillips drilling and completion manager.

Magnum Hunter unit to buy Bakken assets from Baytex

May 23, 2012

Bakken Hunter LLC, a subsidiary of Magnum Hunter Resources Corp., closed a $312 million acquisition of Baytex Energy Corp.’s nonoperated interests in North Dakota.

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