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

TransCanada secures 65,000 b/d Bakken crude commitments

Jan 21, 2011

TransCanada Corp. has concluded its open season for the Bakken Marketlink Project to deliver US-sourced crude from Baker, Mont., to Cushing, Okla., securing 65,000 b/d of firm, term contracts.

Magnum Hunter to acquire NuLoch Resources

Jan 20, 2011

Magnum Hunter Resources Corp., Houston, will acquire NuLoch Resources Inc., Calgary, a Williston basin-focused firm with properties in North Dakota and Saskatchewan, for $327 million.

Approve Keystone XL

Dec 20, 2010 A decision due early next year from the US Department of State forces the world's largest oil-consuming country to look at energy with uncharacteristic realism.

EPRINC: Economic gains to be made from Keystone XL project

Dec 20, 2010 The proposed Keystone crude oil pipeline expansion would provide an estimated $100-600 million/year of net economic benefits from improved transportation and processing efficiencies in addition to an immediate boost in construction employment, a new Energy Policy Research Foundation Inc. (EPRINC) study concluded.

Oxy sells Argentine assets; buys US assets

Dec 20, 2010 Occidental Petroleum Corp. plans to sell its properties in Argentina for $2.5 billion to Sinopec Group.

Oneok to invest in Woodford shale, Granite Wash NGL systems

Dec 16, 2010

Oneok Partners LP plans to invest $180-240 million by first-half 2012 for NGL projects in the Cana-Woodford shale and Granite Wash plays.

OGJ Newsletter

Dec 13, 2010 International News for oil and gas professionals

Oxy sells Argentine assets; buys US assets

Dec 10, 2010

Occidental Petroleum Corp. plans to sell its properties in Argentina for $2.5 billion to Sinopec Group. Separately, Oxy also outlined two separate acquisitions of US producing properties in South Texas and North Dakota for a total of $3.2 billion.

Frac services costly in tight supply, operators say

Dec 6, 2010 Operators faced with costly delays in obtaining fracturing crews are considering their options, and some are assembling their own company-owned fracture stimulation fleets and also entering long-term service contracts.

Rangeland to build North Dakota oil terminal, pipeline

Dec 1, 2010

Rangeland Energy LLC will build, own, and operate a crude oil loading terminal and pipeline in Williams County, ND, serving the Bakken and Three Forks shale oil producing areas.

OGJ Newsletter

Nov 29, 2010 International News for Oil and Gas professionals

North Dakota

Nov 23, 2010

Hess Corp., New York, will buy 167,000 net acres in the Bakken oil play in North Dakota from TRZ Energy LLC for $1.05 billion cash.

OGJ Newsletter

Nov 22, 2010 International News for Oil and Gas professionals

API: US crude production, inventories broke October record

Nov 19, 2010

US crude oil production averaged 5.5 million b/d in October, the highest average for the month since October 2003, and 0.1% higher year-to-year, the American Petroleum Institute said in its latest monthly statistical report.

Williams to buy Bakken-Three Forks stake

Nov 15, 2010

Williams Cos. Inc., Tulsa, will pay undisclosed private owners $925 million to acquire 85,800 net acres in North Dakota that it estimates represent 185 million boe net potential recovery from the Middle Bakken and Upper Three Forks formations.

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