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

Oneok Partners to build Bakken NGL pipeline

Jul 27, 2010

Oneok Partners LP announced plans to build a 525-615-mile, 60,000 b/d NGL pipeline to move unfractionated NGLs from the Bakken shale in the Williston basin in North Dakota to the partnership's Overland Pass Pipeline, a 760-mile NGL pipeline extending from southern Wyoming to Conway, Kan.

OGJ Newsletter

Jul 19, 2010

TransCanada cites benefits of proposed Keystone oil line

Jul 5, 2010 The sponsor of the proposed Keystone crude oil pipeline from Canada emphasized its safety and reliability prior to the US Department of State's public hearing before the comment period ends on July 2.

OGJ Newsletter

Jul 5, 2010

WBI to expand Bakken natural gas pipeline capacity

May 19, 2010

Williston Basin Interstate Pipeline Co., the wholly owned natural gas transmission pipeline subsidiary of MDU Resources Group Inc., announced plans May 19 to expand its existing gas pipeline capacity by about 33% in the Bakken production area in northwestern North Dakota.

MARKET WATCH: Oil, gas prices fall as trader's optimism again sours

May 12, 2010

Front-month crude futures fell May 11, giving back some of the gains from the previous session on the New York market as traders continued to blow hot one day, and cold the next on the European debt crisis.

Oneok to invest in Bakken, Woodford shale projects

May 3, 2010 Oneok Partners LP, Tulsa, will invest $405-470 million through yearend 2011 to expand gathering and processing in the Bakken shale in the Williston basin in North Dakota and the Woodford shale in Oklahoma.

Trains moving Bakken crude

Apr 26, 2010 More oil companies are being drawn to explore, develop, and produce crude oil in the Bakken formation in North Dakota and Montana only to discover limited pipeline takeaway capacity exists for transporting their oil to market.

Editorial: Innovation and surprise

Apr 19, 2010 A tenet of energy thinking in Europe and the US holds that innovation will rescue developed economies from their dependence on fossil energy and should be encouraged to do so.

OGJ Newsletter

Apr 12, 2010

US oil production climbs

Mar 8, 2010 Unlike most producers outside the Organization of Petroleum Exporting Countries, the US "put up remarkably strong oil production growth of 7.1% in 2009" after "a nearly nonstop decline" for the past 3 decades, said analysts in the Houston office of Raymond James & Associates Inc.

US oil production climbs

Mar 1, 2010

Unlike most producers outside the Organization of Petroleum Exporting Countries, the US “put up remarkably strong oil production growth of 7.1% in 2009” after “a nearly nonstop decline” for the past 3 decades, said analysts in the Houston office of Raymond James & Associates Inc.

MARKET WATCH: Energy futures prices rebound

Mar 1, 2010

Energy commodity prices rebounded Feb. 26—the final trading session of that month—with crude briefly topping $80/bbl in intraday trading in the New York market on a weaker dollar.

Integrated firms' budgets targeting upstream projects

Mar 1, 2010 US-based integrated firms are shifting more of their capital spending dollars toward upstream projects and away from their downstream operations that manufacture, transport, and market refined products.

Special Report: E&P in sharper focus for 2010 capital expenditures

Mar 1, 2010 OGJ's annual capital spending report shows that capital spending for all oil and gas projects in the US will decline 5% this year to $220 billion. Greater efficiency, slightly lower costs, and a rationalization of refining capacity will drive this decline.
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