Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Dakota
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-30-2013, 02:31 PM
 
Location: Fargo, ND
419 posts, read 1,396,734 times
Reputation: 358

Advertisements

A report released today from the USGS:
ND oil patch is bigger than thought, new USGS report says | Minnesota Public Radio News

"Together the Bakken and Three Forks formations contain an estimated mean of 7.4 billion barrel of undiscovered technically recoverable oil. This assessment is a two-fold increase from the 2008 assessment"
Reply With Quote Quick reply to this message

 
Old 04-30-2013, 06:49 PM
 
746 posts, read 1,728,910 times
Reputation: 507
Quote:
Originally Posted by dutchinnd View Post
A report released today from the USGS:
ND oil patch is bigger than thought, new USGS report says | Minnesota Public Radio News

"Together the Bakken and Three Forks formations contain an estimated mean of 7.4 billion barrel of undiscovered technically recoverable oil. This assessment is a two-fold increase from the 2008 assessment"
The Three Forks formation has at least four levels (the Three Forks and three lower benches) that are being drilled separately. The first two benches have already been proven in certain areas and the third is being drilled. The numbers released could / should essentially be doubled, based on Continental Resources's estimate of 20 billion barrels. The number of wells could end up being around 100,000, mostly in four counties. With those wells being nearly $10 mill a piece, the amount of investment just in well would be $1 trillion, while the value of the oil would be $2 trillion (assuming $100 / barrel oil for 30 years).

With other oil bearing levels, even 20 billion barrels might be low.
Reply With Quote Quick reply to this message
 
Old 05-04-2013, 10:24 AM
 
746 posts, read 1,728,910 times
Reputation: 507
Here's a graphical depiction of the oil reserves in ND compared to the rest of the US. There are a number of shale plays that have not been reassessed, so huge reserves will be added to places like Texas (shale in the Permian and Cline), Ohio, Pennsylvania, and California.


Reply With Quote Quick reply to this message
 
Old 05-04-2013, 11:03 AM
 
Location: Minot, ND
163 posts, read 584,406 times
Reputation: 123
WOW That's 6.5X's larger than the North Slope Of AK.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Dakota
Similar Threads

All times are GMT -6. The time now is 05:11 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top