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

Phillips 66 to move Bakken crude by rail to Bayway refinery

Jan 9, 2013

Phillips 66 signed a 5-year contract with Global Partners LP under which Global will use its rail loading, logistics, and transportation network to deliver crude oil from the Bakken formation of North Dakota to the Phillips 66 Bayway refinery in New Jersey.

Enbridge advances Bakken-targeted LOMA program

Dec 7, 2012

Enbridge Inc. has received sufficient shipper support to advance its Light Oil Market Access Program.

Continental sees big target in Three Forks benches

Dec 3, 2012

The Bakken-Three Forks play in the Williston basin contained an estimated 903 billion bbl of original oil in place or 57% more than in 2010 when Continental Resources Inc. estimated that the entire field would eventually yield 20 billion bbl of oil and 4 billion boe of natural gas, the company said.

Oneok cancels Bakken Crude Express Pipeline

Nov 27, 2012

Oneok Partners LP reported it will not build its proposed Bakken Crude Express Pipeline, having received insufficient long-term transportation commitments during the project’s open season, concluded Nov. 20.

Keystone XL decision may be first policy test in second Obama term

Nov 26, 2012

US President Barack Obama's decision on the proposed Keystone XL crude oil pipeline project could be the first major policy test in the president's second term, American Petroleum Institute officials said.

Continental Resources to buy more Bakken formation assets

Nov 8, 2012

Continental Resources Inc. has agreed to buy certain Bakken formation producing and undeveloped properties for $650 million. The property includes leasehold of 120,000 net acres, primarily in the North Dakota counties of Divide and Williams.

Inergy Midstream to acquire COLT oil hub in Bakken formation

Nov 5, 2012

Inergy Midstream LP, Kansas City, agreed to a $425 million purchase of Sugar Land, Tex.-based Rangeland Energy LLC, which owns and operates the COLT open-access crude oil rail terminal, storage, and pipeline complex to handle unconventional Bakken oil production near Epping, ND, in Williams County.

Avoiding US oil resource surprises requires enhanced information system

Nov 5, 2012

This article urges action by government or the petroleum community to inform policymakers better (and confuse them less) about two energy information basics

CN, Tundra Energy to build rail terminal for Bakken crude

Oct 22, 2012

Canadian National Railway Co. (CN) and Tundra Energy Marketing Ltd. agreed to build a crude oil rail terminal near Cromer, Man., to transport Bakken crude oil for producers in Manitoba and Saskatchewan.

GMX alterations may improve Bakken completions

Oct 15, 2012

GMX Resources Inc., Oklahoma City, is adjusting its operating practices in an effort to improve results of Bakken completions in the Williston basin.

GMX alterations may improve Bakken completions

Oct 3, 2012

GMX Resources Inc., Oklahoma City, is adjusting its operating practices in an effort to improve results of Bakken completions in the Williston basin.

Halcon updates multistate resource play operations

Oct 2, 2012

Halcon Resources Corp., Houston, plans to add four to six operated rigs by the end of 2012 to the 11 it is currently running in its resource-style drilling program in the wake of its acquisition of GeoResources Inc. and assets in East Texas.

ExxonMobil to buy Bakken assets from Denbury

Sep 20, 2012

ExxonMobil Corp. agreed to buy Bakken formation assets in North Dakota and Montana covering 196,000 net acres from Denbury Resources Inc. for $1.6 billion.

FOCUS: UNCONVENTIONAL OIL & GAS: US expects tight oil production gains from Bakken, Eagle Ford

Sep 3, 2012

Producers report that better efficiencies are delivering higher volumes of oil from the South Texas Eagle Ford and the Bakken formation in North Dakota and Montana.

Statoil leases more than 1,000 railroad cars to carry Bakken crude

Aug 30, 2012

Statoil ASA said it has leased more than 1,000 railroad cars and plans to transport crude oil from the Bakken formation to refineries on the US East Coast and Gulf of Mexico and to Canada. Rail shipments are expected to start during September.

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