Bakken Shale Description:
The Bakken Formation occupies about 200,000 square miles of the subsurface of the Williston Basin, covering parts of Montana, North Dakota, and Saskatchewan.
There are significant reservoirs of oil in the Bakken shale. Oil was first discovered in the Bakken in 1951. An April 2008 USGS report estimated the amount of technically recoverable oil in the Bakken Formation at 3.0 to 4.3 billion barrels 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 of technically recoverable oil in the Bakken. This amount will undoubtedly increase.
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Initial Energy Services, LLC
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