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

Oil prices cross North Dakota tax threshold

Mar 31, 2015

It's limited to the first 75,000 bbl of oil produced from a new well or the first $4.5 million of gross value oil produced from that well.

Examiner stalls Shell's Bakken Rail Plans for Anacortes pending Environmental review

Mar 31, 2015

A Skagit County hearing examiner in Mount Vernon, Wa., halted Royal Dutch Shell's plans to move Bakken crude oil by rail to Shell's Anacortes refinery in northwest Washington state pending environmental and public health risk reviews, which could take at least 1 year.

Bakken Briefs

Mar 31, 2015

Pipeline leaks Bakken oil into Yellowstone River

Mar 31, 2015

Ice on the Yellowstone River delayed cleanup efforts by response crews after a section of Bridger Pipeline LLC's Poplar Pipeline, which runs under the river, ruptured and spilled Bakken crude oil, said the US Environmental Protection Agency.

Bakken crude derailments spur rail safety concern

Mar 31, 2015

Recent derailments of trains carrying Bakken crude oil prompted elected officials across various states to request that federal regulators expedite efforts addressing the safety of moving crude oil by rail.

EIA: US oil output growth in 2014 largest in more than 100 years

Mar 30, 2015

US crude oil production, including lease condensate, increased during 2014 by 1.2 million b/d to 8.7 million b/d, the largest rise in volume since recordkeeping began in 1900, according to data from the US Energy Information Administration.

US drilling slump a tough start to market correction

Mar 30, 2015

Two changes essential to reversal of a sagging oil market are coming into view: Supply expectations are falling, while demand looks-well, at least stronger than it did a few months ago.

DOE report identifies deficiencies in crude oil analysis techniques

Mar 30, 2015

A US Department of Energy report found gaps in important crude oil characterization data, uncertainty about how to best sample and analyze crude to ensure its properties are determined accurately, and deficiencies in understanding how a crude's properties affect its potential to accidentally ignite, combust, and explode.

Analysts: Oil industry dealing with downturn better than years’ past

Mar 26, 2015

Investment bankers and analysts entrenched in the oil and gas industry say US companies have so far staved off the major negative impacts of the current industry downturn better than previous downturns by acting more proactively and aggressively.

DOE report identifies deficiencies in crude oil analysis techniques

Mar 25, 2015

A US Department of Energy report found gaps in important crude oil characterization data, uncertainty about how to best sample and analyze crude to ensure its properties are determined accurately, and deficiencies in understanding how a crude’s properties affect its potential to accidentally ignite, combust, and explode.

BHI: US rig count down in 14th straight week, loses 67 units

Mar 13, 2015

The US drilling rig count plunged 67 units—64 on land and 56 targeting oil—to settle at 1,125 rigs working during the week ended Mar. 13, according to data from Baker Hughes Inc.

EIA: Eagle Ford, Bakken oil production to fall in April

Mar 10, 2015

US shale oil production is expected to increase by a mere 1,000 b/d from March to April, according to the Energy Information Administration’s Drilling Productivity Report (DPR), signifying a slowdown in growth caused by reduced company budgets and a shrinking rig count.

Pennsylvania governor asks Obama for stronger crude-by-rail rules

Mar 2, 2015

Noting that 60-70 trains/week carry Bakken crude oil across Pennsylvania to the Philadelphia area or other East Coast refineries, Gov. Tom Wolf (D) asked US President Barack Obama for stronger federal regulations to prevent derailments and improve safety.

Technique connects known, unknown EURs, manages expectations

Mar 2, 2015

Reserves reports often rely on volumetric probabilistic EUR assessments while remaining vague or silent on how these estimates relate to what is actually known or proven.

BHI: US rig count continues to tumble, falls 43 units to 1,267

Feb 27, 2015

The US drilling rig count declined 43 units—down from losses of 48 last week and 98 the previous week—to settle at 1,267 rigs working during the week ended Feb. 27, according to data from Baker Hughes Inc.

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