The Bakken Oil Field: Fact or Fiction?


The North American Bakken oil field has received a fair degree of news coverage recently amid claims of up to 500 billion barrels of crude oil under the ground. If this were true this would make it the single largest oil deposit in the world. Where does the Bakken field stand in relation to these claims?



bakken oil discreet

The oil field was discovered over 50 years ago and is located across the border of North Dakota and Montana. The area has been extensively studied. The area is rich in oil shale, a rock formation typically associated with oil deposits. The oil in this formation is thinly spread through the rocks, which is called a continuous oil accumulation. This is opposed to discreet oil deposits where the oil is pooled into one area.

bakken oil continuous

The spread out nature of the oil in this formation makes recovering it an expensive task. Those areas where there is some pooling of oil have already been drilled and developed and to date 105 million barrels of oil have come from the site. A recent report from the United States Geological Survey (USGS) has predicted that a maximum of 4.3 billion barrels of oil can be extracted from the area using conventional technology. Possible technology developments such as horizontal drilling may increase this somewhat. The figure for the amount of recoverable oil in the Bakken formation contrasts sharply with the amount predicted to be present. In 1999 the USGS estimated the total volume of oil in the formation to be in the range of 413 billion barrels.

What then can we make of the claims that this oil field is the solution to America's oil problems, and that development of this field will hail the return of cheap gasoline in the US?

The 4.3 billion barrels of oil available in this area must be seen in context. The United States presently uses somewhere in the vicinity of 7 billion barrels of oil each year, meaning that all the oil readily able to be extracted from this formation would last the US less than eight months. This is in contrast to Saudi oil production which is over 8 billion barrels a year and will continue to be so for some time.

The remainder of the oil in the formation cannot be accessed without great effort and expense. Due to this it is highly unlikely that the field will be developed in a major way until oil prices are so high and demand is so great that there is no alternative.

Clearly the Bakken oil field does not qualify as "the next oil boom". Caution must be exercised when considering investing any money in projects that make improper use of the USGS reports on this formation's oil bearing capacity.

UPDATE:

There has been a lot of noise recently about this oil formation and how there have been advances in the assessments of the amount of oil available for extraction. It is worth noting here that the USGS has not released any upward assessment of the amount of oil in the area. It is true that mining techniques continue to advance, and as methods for hydrofracturing and retorting at either the surface or underground become more efficient then the price of extraction from the oil shale in the area will drop.

It would be excellent for the United States if the Bakken Oil reserve of oil was as large as the upper estimates of 500 billion barrels hopes for, but unfortunately it looks as if this is just not the case. Also, those proponents of "getting stuck into the Bakken" for the sake of the country are no doubt aware that all the oil operations are private ventures and not federally owned, and so nothing will ever be done there unless there is a buck in it. The fact that the area is not being heavily developed speaks for itself.

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What Other Visitors Have Said

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Development 
Have environmental groups had any impact on the long range growth of the area? OR, is it basically just to expensive to extract the oil from shale?

How …

Oil is flowing in Bakken 
I just found out about this Bakken Oil Field from a friend traveling around the country who tried to buy an RV in Missoula MT. and could not! They told …

Bakken 
Is the Bakken named for the original owner of the area or where did the Bakken name come from?

Green River formation? 
Is the Bakken oil field part of the Green River formation? If not what about the viability of the Green River shale oil deposits?

All energy sources are part of the solution 
Why would I even expect an objective, unbiased report from solar energy advocates?? The solution to the nation's energy needs lies in a combination of …

Who funds your Green Planet-Solar-Energy Company? 
Sounds to me that your group has a personal interest in

trying to down play the potential for this areas oil.

Your figures are not credible because of …

Horizontal drilling? 
At what stage of development are we at with "Horizontal drilling"? Where can I find pertinent info on horizontal drilling? I'm glad to have found your …

Avenging Hawk wants to know 
why is it then that we are paying up the nose for gas if this is true 4.3 billion of domestic oil barrels is better than what we have now so who will benefit …

Bakken Oil Numbers Don't Match 
How or where does 4.3 billion barrels come from when 413 billion barrels are whats projected?

Pretty Lame Explanation for Bakken Oil 
I've been a petroleum geologist for 29 years and the explanation above is the lamest I have seen in a long while. Your figures of "continuous" versus …

The Bakken Is The Best! 
I flow test new wells in the Bakken Shale of North Dakota. These wells rock! I've never seen a well puke up 3000 Barrels of oil per day in my life until …

How long before Bakken Oil will or can be developed in US? 
Why wouldn't drilling for oil be smart for the US?

Why shouldn't people be mad aware of this and fight the environmentalists - LOOK AT THE JOBS THAT WOULD …

The Question is...What do you Mean by Sustainable? 
I don't know a thing about the Bakken Oil Field other then what I've read here, but I would tend to trust the men who have worked in the area over the …

scale of bakken oil 
Show us what the cost would be to extract the oil, I see no cost analysis and if there is an estimate total volume of 413 billion barrels of oil; how will …

Oil Production 
How many gallons of gas is produced from one barrel of oil ?

follow the money..? 
Is the Bakken oil field on federal or private land? Who is drilling there? Who is furnishing the money? If it is on federal land how much money is returned …

Just a bunch of Bull 
Oil was discovered in Montana years ago and these wells were plugged and most were called "tight holes". They were drilled miles from any means of transportation …

What are some of the infastructure issues facing the development of the Bakken oilfield? Not rated yet
Currently there is a lack of capacity in pipeline development to carry the oil. Rail is being used to carry the oil. How long will it take before a pipeline …

Cost of drilling in the Bakken Oil Field compared to deep water drilling Not rated yet
If the Bakken is too expensive to drill what about the cost of deep water drilling? The Bakken, AMWR, or the Rocky Mountains seem to an advantage when …

future companies eanrning potential for investing data Not rated yet
I am trying to find which companies are in the best position moving forward from a known reserves position.Is it symbol(WLL,EOG,WHX).

If I find out you aren't telling all the truth what then? Not rated yet
Surely you are down playing the whole truth all of the "tree huggers of the world" have been brought out by the spotted owl crap! That is to say that you …

Bakken and the world economy Not rated yet
How many people realize that it is BIG OIL paying the lobyst in Washington to keep a lid on this project?

The Bakken Oil fields are for real.

Do you …

If we have resources, let's use them. Not rated yet
You'd think that in today's age and technology that the American people would be able to come up with a safe environmental way to excrete the oil from …

Bakken Oil Extractions EXCEED This Article's Claims by 10X in 2010  Not rated yet
The dated nature of this article DOES NOT reflect the advances in "fracking" technology. Oil extraction costs dropped significantly since this article …

Click here to write your own.

OIL Not rated yet
I can't imagine that there aren't oil companies out there that aren't studying day and night, trying to figure out a method of extracting this oil …

Mineral Right Lease Not rated yet
I hold mineral rights in the Williston Basin. I have been contacted by various parties to lease my mineral rights again. The initial offer was not even …

Saudi oil production Not rated yet
I believe Saudi oil production is 8 million barrels per day, making their annual output about 3 billion barrels.

US citizens pay either way. Not rated yet
According to the above article "The remainder of the oil in the formation cannot be accessed without great effort and expense. Due to this it is highly …

Bakken is "The Hill" in Norwegian Not rated yet
The meaning is Hills...so this area must be filled with many rolling hills. Its Norwegian or Danish...The discover must have been Norwegian possibly. Norway …

Poor reporting Not rated yet
What is the date of this story? Was it written 10 years ago or yesterday? Date is one of the key pieces of information of any story. No point in writing …

good grief Not rated yet
Green Planet What a liar you are as a matter of fact there is 500 Billion barrels which are recoverable worth about 5.3 trillion dollars as of last Friday. …

John Wilder Not rated yet
I usually consider the source of information as much as the information its self. I recall in vivid detail in the early 1970's when the so called "Ecologist" …

Bakken Horizontal Drilling program Not rated yet
My understanding is that most,if not all of the participants in this oil play are now using horizontal technology, which should increase,dramatically, …

Current oil production from North Dakota- 218,000 bpd Not rated yet
Since the existence of the Bakken fields have been known for some time and the techniques for extracting the oil have also, why hasn't the production been …

Fracking  Not rated yet
Will "fracking" be used to remove any of the oil from the Bakken oil field?

Investing in Energy Not rated yet
"Caution must be exercised when considering investing any money in project"

The same should be said about Solar and Wind power. Without taxpayer funding, …

Lets get it out of the ground Not rated yet
We should go after this oil on our own soil. This find, while satisfying our thirst, could bring jobs and new life to our struggling economy. Sending our …

who are the bakken players? Not rated yet
who are the major oil companies involved in the bakken/three forks field ? who sits on most of the reserves/leases/drilling rights ?

reporting on old tech Not rated yet
you are reporting 10 year old news and referring to 10 year old technology. Modern Tech can easily gather all the oil reserves there and give us 50 years …

Questionable report Not rated yet
I certainly do not believe this report written by "greens." There have been other reports that tell a different story about Bakken.

Larger than Saudi? Not rated yet
I've be told there is more Oil there than what you people are saying. The other day they found another oil field. They are drilling about 150 wells a month …

Several Overlooked Details; The Bakken Oil Field Not rated yet
First, I've BEEN there! Second, I'm for alt. energy sources, WHEN citizens FORCE industry & gov't. to DO SOMETHING RIGHT, for a 'change'. The oil companies …

Security, special interests and natural gas. Not rated yet
I am not a tree hugger but the environment along with population expansion on a finite planet and some cultural differences with Islam are likely to be …

When written? Not rated yet
When was this article written? And have there been further discoveries since then, or has extraction tecnology developed?

Shale oil Not rated yet
“The technical groundwork may be in place for a fundamental shift in oil shale economics,” the Rand Corporation recently declared. “Advances in thermally …

The Bakken is our chance Not rated yet
to let every one in this great country back to the chance of saving money for them selves.

This consortium that has the hold on every one is not about …

Why wait? Not rated yet
I believe that it would be an accurate prediction to say that what will most likely happen will be the following. The middle east will one day "aquire" …

Why All the Controversy Not rated yet
USGS claims one thing. Snoops denies it. Who is the claimant and what are their motives?

Capped or Plugged? Not rated yet
I have inherited mineral rights on land within the Bakken oil field. Years ago some wells were drilled, then capped and left. Is there a difference between …

Click here to write your own.

Near Deering? Not rated yet
Are these oils fields close to the Deering area at all?

Hicks and Nelder "Profit From The Peak" Not rated yet
Authors of the above titled book are currently saying that recent confirmations expose very substantial additional resources of oil sands containing high …

Ridiculous standards Not rated yet
I love the way the environmentalists puts down each and every potential and actual oil and gas play and reserve development as being immaterial since no …

Bakken in 10 years Not rated yet
I'd like to point out that the bakken oil fields will be the next oil boom in the next years...now a barrel costs 80 box, ten years from now the bakken …

Bakken oil fields Not rated yet
Why do some people not want to believe that oil energy is not sustainable or environmentally sound? (Strip mining was once thought a good idea, too.) …

Whats expensive? Not rated yet
It's expensive when you have to pay the Saudis for HEAVY CRUDE it's expensive when you have to transport it to the United States and it's expensive when …

Great Effort and Expense? Not rated yet
Why in the world would anyone think that recovering oil is not done without great effort and expense? History has proven that unknown oil sources will …

How? Not rated yet
How are we supposed to believe anything when we are told in one report there are trillions of barrels of oil in this fields that will last the U.S.using …

Saudi Oil production Not rated yet
Saudi Arabia doesn't produce 8 billion barrels per year. It is less than half of that. They averaged around 9 million a day for the past few years which …

There's oil in them there hills Not rated yet
So we should invest in solar energy? give me a break you losers.. been investing making money you can't even imagine..180% returns.

So go back to saving …

Good discussion of the issue Not rated yet
You have provided a clear explanation of the "readily available" oil at this site and the issues and cost for extracting more from the shale. What about …

Eastern Montana drillling Not rated yet
I would like to know if Sumatra Montana area is in the Williston Basin? Sumatra is in Rosebud County.

.

How much oil do we use per year? Not rated yet
Gentlemen:

Please disclose your source(s) for the figure of 7 billion barrels crude usage per year.

Click here to write your own.





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Last Updated: 2 July 2012