What is the Bakken? +

With a formation ranging from 4,500 to 7,500 feet, the Bakken Shale has proven to be the largest oil find in United States history. The U.S. Department of Interior predicts the formation contains over 7.4 billion barrels of recoverable oil, nearly doubling their initial prediction. As major companies continue to explore the region, the amount of recoverable oil in the Bakken continuously surprises investors and has consistently exceeded expectations.

America’s Energy Independence

Bakken Shale production trends in North Dakota have soared significantly leaving the United States less and less dependent on foreign oil. In fact, the U.S. Energy Information Administration projects U.S. imports could reach zero by 2036 due to shale drilling.

Economic Growth

Bakken Shale oil investment and extraction has also promoted exponential job growth in the United States, specifically in the North Dakota counties where oil production is most prominent. Demand has increased for everything from drilling rigs and pumping units to office space and housing, all driven by the economic boom of Bakken Shale.

Bakken Shale History +

The Bakken Shale formation was originally identified in 1953 by geologist J.W. Nordquist and was subsequently named after Henry Bakken, the owner of the Montana farm where the formation was discovered.

Bakken oil play has existed since the 1960’s, however the current oil play in the Bakken didn’t start until the early 2000’s, when horizontal drilling gained more footing in the oil industry. The Bakken Shale is considered the largest oil development in the United States to date. It has been stated by large players in the the Bakken Shale that 24-40 billion barrels of oil will be recovered in years to come. In fact, as of 2013 the Bakken Shale produced over 10% of all US oil production.

Bakken Shale Stats +

• Covers approximately 200,000 square miles

• Located on the subsurface of the Williston Basin underlying parts of North Dakota, Montana, Saskatchewan and Manitoba

• Estimated to produce 24-40 billion barrels

• The largest and most successful shale play in North America

• Has the potential to eliminate all American dependence on foreign oil

• Bakken formation has had 99.5% success since 2010

• 94% of all wildcats hit oil from the very beginning

• One third of all onshore oil rigs in the US are in the Williston Basin

• New technology of horizontal drilling and hydraulic fracturing led to a boom in oil production over the past three years

Bakken Shale Geology +

The Bakken Shale believed to date as far back as the late Devonian to Early Mississippian age, roughly 416 to 360 million years ago.

The formation consists of the lower shale, middle dolomite and upper shale. The middle dolomite is roughly 2 miles below the surface and is considered the Bakken’s prime oil reservoir.

All three members (shales) are known to produce oil and natural gas. 

Bakken Shale Companies +

The Bakken Oil Play is comprised of several major players including Exxon-Mobile (XOM), Marathon Oil (MRO), Continental Resources (CLR), EOG Resources (EOG), Kodiak Oil & Gas (KOG), Enerplus Resources Fund (ERF), Whiting Petroleum Corporation (WLL), Hess Coporation (HES) and Conoco-Philips (COP).

These companies and many like them have discovered this potential of the Bakken Shale through extensive analysis. Many of these companies are using advanced technologies to further explore untouched areas of the Bakken Shale.