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

SM Energy to acquire North Dakota assets from Baytex

Jul 31, 2014

SM Energy Co., Denver, has agreed to acquire 61,000 net acres in Divide and Williams Counties, ND, from Baytex Energy Corp., Calgary, for $330.5 million, effective July 1. The deal is expected to close toward the end of the third quarter.

PwC: 2Q oil and gas M&A activity strongest in 5 years

Jul 30, 2014

The US oil and gas industry experienced a substantial rise in mergers and acquisitions during the second quarter, according to a quarterly report by PwC US Energy Practice.

Hess looks to form Bakken midstream MLP

Jul 30, 2014

Hess Corp. reported that it will pursue the formation and initial public offering of a midstream master limited partnership (MLP) that would support the company’s production growth in the Bakken shale.

States with fracing are economically stronger, House panel told

Jul 28, 2014

US states that embraced hydraulic fracturing and horizontal drilling staged stronger economic recoveries than those that did not since 2008 when the country plunged into recession, an economist told a House Energy and Commerce subcommittee.

DOT proposes new rules for transporting crude by rail

Jul 28, 2014

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high - hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

DOT proposes new rules for transporting crude oil by rail

Jul 23, 2014

A train with 20 or more tank cars carrying crude oil, ethanol, or other flammable liquids would be classified as a high-hazardous flammable train (HHFT), and would be subject to lower speed limits, routing risk assessments, and other new requirements under new US Department of Transportation regulatory proposals.

North Dakota flaring reduction policy may impact January production

Jul 15, 2014

North Dakota production continued to climb in May but new requirements in the state’s flaring reduction plan slowed permitting activity in June and may lead to production curtailments for some operators early next year.

EIA: Texas, N. Dakota provided nearly half of US crude production in April

Jul 14, 2014

Crude oil production in the US during April totaled 8.4 million b/d, with Texas and North Dakota accounting for 4 million b/d, according to data from the US Energy Information Administration's Petroleum Supply Monthly Report.

North Dakota gives teeth to flaring reduction plan

Jul 14, 2014

North Dakota operators that fail to meet the state's flaring reduction targets may soon be forced to curtail oil production from wells targeting the Bakken and Three Forks formations, according to an order issued July 1 by state regulators.

Whiting to acquire Kodiak in $6 billion deal

Jul 14, 2014

Whiting Petroleum Corp. has agreed to acquire Kodiak Oil & Gas Corp., both of Denver, in an all-stock transaction valued at $6 billion, creating the largest Bakken-Three Forks producer with more than 107,000 boe/d of first-quarter production, 855,000 combined net acres, and 3,460 net future drilling locations.

Ergon plans processing expansions in Appalachian basin

Jul 2, 2014

Ergon Inc., Jackson, Miss., has announced plans to expand processing capabilities of its subsidiaries’ operations in the Appalachian basin to support growing condensate and NGL production from the Marcellus and Utica shale regions.

North Dakota gives teeth to flaring reduction plan

Jul 2, 2014

North Dakota operators that fail to meet the state’s flaring reduction targets may soon be forced to curtail oil production from wells targeting the Bakken and Three Forks formations, according to an order issued July 1 by state regulators.

EIA: Texas, N. Dakota provided nearly half of US crude production in April

Jul 1, 2014

Crude oil production in the US during April totaled 8.4 million b/d, with Texas and North Dakota accounting for 4 million b/d, according to data from the US Energy Information Administration's Petroleum Supply Monthly Report.

BNV-Norstra deal sets Montana gas drilling

Jun 25, 2014

Privately held BNV Energy LLC, Houston, has entered an agreement with Norstra Energy Inc., Spokane, to drill two natural gas wells and build a related gathering system to earn a 60% working interest in 5,382 acres in Northwest Montana.

Nova Chemicals processing Bakken ethane at Joffre plant

Jun 13, 2014

Nova Chemicals Corp. is now processing the first barrels of ethane supplied from natural gas associated with Bakken shale oil production at its ethylene and polyethylene complex in Joffre, near Read Deer, Alta.

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