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

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.

OGJ Newsletter

Feb 22, 2010

Alliance Pipeline moving Bakken shale gas

Feb 19, 2010

Alliance Pipeline announced its system is moving natural gas and natural gas liquids from the Bakken shale in the Williston basin via a new interconnect near Bantry, ND.

Montana gas storage, pipeline project planned

Feb 16, 2010

Williston Basin Interstate Pipeline Co. has launched a $100-130 million project to boost delivery capacity from its Baker natural gas storage field in eastern Montana by April 2012.

GE Energy, independents to acquire reserves

Feb 16, 2010

GE Energy Financial Services formed partnerships with two independents to acquire North Dakota and West Texas oil and gas reserves.

DRILLING MARKET FOCUS: Drillers cautiously optimistic about climbing oil prices

Feb 15, 2010 Drilling contractors expressed cautious optimism early this year upon strengthening oil prices while many exploration and drilling companies announced 2010 budgets calling for more exploration and development than in 2009.

API: US drilling activity falls 37% in 2009

Jan 25, 2010 Fewer US oil and gas wells were drilled in 2009 than in 2008, but the pace of activity grew during last year's final 6 months, the American Petroleum Institute reported.

API: US oil demand showed signs of recovery late in 2009

Jan 25, 2010 US oil demand fell during 2009 but began to recover as the year concluded, the American Petroleum Institute said.

Lodgepole Scallion zone yields oil in North Dakota

Jan 18, 2010 Continental Resources Inc., Enid, Okla., said an initial test of a horizontally drilled section of Scallion limestone in west-central North Dakota produced at an uneconomic 7-day rate of 65 b/d of oil and 37 Mcfd of associated gas and plans no further drilling at present.

API: US oil demand showed signs of recovery late in 2009

Jan 15, 2010

US oil demand fell during 2009 but began to recover as the year concluded, the American Petroleum Institute said.

Umiat: a North Slope giant primed for oil development

Jan 11, 2010 Alaska's giant Umiat oil field, discovered in the late 1940s by the US Navy in search of new sources of oil after World War II, remains undeveloped to this day.

OGJ Newsletter

Nov 16, 2009
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