February 17, 2009
– Comments (4) |
RELATED TICKERS: GLD
Bakken Formation From Wikipedia, the free encyclopedia Jump to: navigation, search Bakken Formation Map of Williston Basin oil fields with reservoirs in Bakken Formation (Saskatchewan is north border). Most oil comes from Elm Coulee Oil Field Type Geological formation Age Late Devonian to Early Mississippian Area 200,000 square miles (520,000 km2) Lithology Primary Shale, Dolomite Location Named by J.W. Nordquist, 1953
The Bakken Formation, initially described by geologist J.W. Nordquist in 1953, is a rock unit from the Late Devonian to Early Mississippian age occupying about 200,000 square miles (520,000 km2) of the subsurface of the Williston Basin, covering parts of Montana, North Dakota, and Saskatchewan.
It is estimated that there are significant reservoirs of oil in the Bakken shale. The formation in its natural state contains oil, whereas an oil shale contains kerogen which is artificially converted into oil. Oil was first discovered in the Bakken in 1951, but efforts to extract it have historically met with difficulties. An April 2008 USGS report estimated the amount of technically recoverable oil in the Bakken Formation at 3.0 to 4.3 billion barrels (680,000,000 m3), with a mean of 3.65 billion. The state of North Dakota also released a report that month which estimated that there are 2.1 billion barrels (330,000,000 m3) of technically recoverable oil in the Bakken.
I was all over the Bakken play last spring/summer. All those junior oil explorers are getting crushed at the moment.
yes dark toast that is why congress wants to block drilling there.
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by