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

Efficiency Gains Improve Bakken Production

Dec 13, 2013

Although the number of rigs at work in the Williston basin peaked more than a year ago, production in the Bakken-Three Forks tight oil play continues to grow as operators like Continental Resources find new ways of reducing the amount of time it takes to drill a well and improve completion techniques to enhance recovery.

Bakken operators test Tyler formation in North Dakota

Dec 13, 2013

In southwest North Dakota, vertical wells in the Tyler formation are typically described as "hit or miss."

Marathon to ramp up US resource play activity

Dec 11, 2013

Marathon Oil Corp. plans to accelerate its US resource play activity and market its North Sea assets in 2014, the company said at its analyst day in New York.

Marathon signs as anchor Sandpiper crude line shipper

Nov 26, 2013

Marathon Petroleum Corp. signed with Enbridge Energy Partners LP as an anchor shipper for the Sandpiper Project crude oil pipeline, which will become part of Enbridge's North Dakota System when completed. The companies expect Sandpiper to be operational first-quarter 2016.

Deloitte: US shale production boosts midstream growth

Nov 19, 2013

US production from unconventional oil and gas production is driving demand for midstream infrastructure, and more consolidation of midstream companies is likely, the Deloitte Center for Energy Solutions said in a report released Nov. 19 at the 2013 Deloitte Oil & Gas Conference in Houston.

Foreign oil, gas investment strong in Canada

Oct 24, 2013

Foreign investment in Canadian oil and gas, a topic that raised governmental concern when CNOOC Ltd. of China last year announced plans to acquire Nexen Inc. of Calgary for $15.1 billion, has averaged $20 billion/year since 2007, reports the Canadian Energy Research Institute (CERI).

Crestwood buys Arrow Bakken gathering systems for $750 million

Oct 10, 2013

Crestwood Midstream Partners LP’s wholly owned subsidiary Crestwood Arrow Acquisition bought Bakken-shale gathering company Arrow Midstream Holdings LLC in a deal valued at $750 million.

Activity Snapshot: North Dakota Bakken

Oct 1, 2013

Oasis Petroleum adding to its Williston basin assets

Sep 5, 2013

Oasis Petroleum Inc. has signed four separate, unrelated purchase agreements to acquire certain assets in the Williston basin totaling 161,000 net acres and costing $1.5 billion.

Saskatchewan straddle plant planned to handle Bakken production

Sep 4, 2013

SaskEnergy unit Bayhurst Energy Services Corp. (Besco) will join Mistral Midstream Inc., Calgary, to build a liquids-extraction plant in southeastern Saskatchewan, just north of the North Dakota border.

Whiting Petroleum to acquire Williston basin assets

Aug 29, 2013

Whiting Petroleum Corp., Denver, has signed a purchase and sale agreement with an undisclosed private party to acquire certain producing oil and gas wells and development acreage in the Williston basin in Montana for $260 million.

Wyoming delegation asks Jewell to exempt state from BLM fracing rules

Aug 20, 2013

Wyoming’s congressional delegation asked US Sec. of the Interior Sally Jewell to exempt the state and others that already regulate hydraulic fracturing from the US Bureau of Land Management’s final regulations when they are issued.

Senators promote North Dakota's regulatory role during Jewell visit

Aug 19, 2013

North Dakota's two US senators—John Hoeven (R) and Heidi Heitkamp (D)—welcomed US Sec. of the Interior Sally Jewell to the state for a 2-day visit on Aug. 6.

URTeC: Wolfcamp play dwarfs Bakken, Eagle Ford

Aug 12, 2013

“The Spraberry Wolfcamp could possibly become the largest oil and gas discovery in the world,” said Pioneer Natural Resources Co. Chief Executive Officer Scott Sheffield while speaking Aug. 12 at the Unconventional Resources Technology Conference (URTeC) in Denver.

PwC US: Eagle Ford, Marcellus most active shale plays for 2Q M&A

Aug 7, 2013

Transactions involving unconventional oil and gas assets remained a key driver for deal activity in the second quarter, and midstream shale assets values beat upstream shale deal total for a second consecutive quarter, PwC reported in an analysis of industry’s merger and acquisition activity.

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