Although the United States Geological Survey estimates that the Bakken Formation beneath parts of North Dakota, Montana and Canada might contain over 4 billion barrels of oil, Harold Hamm, believes that it might contain up to 24 billion barrels.
More at Wall Street Journal.Montana Gas
Bakken Formation Oil and Gas Reassessment
In the past three years oil and natural gas production from the Bakken Formation of North Dakota and Montana has increased dramatically causing the United States Geological Survey to launch an update of its last assessment that was completed just three years ago. More at UPI.com.
How Much Oil is in the Bakken and Three Forks Formations?
Diverging estimates by three different organizations with significant expertise in oil and natural gas assessments leave one wondering how much oil really is in the Bakken and Three Forks Formations? Read the details on the Trib.com website.
Here are the estimates….
USGS…. 4.3 billion barrels
North Dakota Geological Survey…. 11 billion barrels
Continental Resources…. 20 billion barrels
