Welcome to our Website. We are the Bakken Oil News. News, Views and Statistics. We will strive to provide quality information that will keep you interested and informed. The Bakken is one of the newest, and most productive oil fields in the United States.
The Bakken covers parts of Montana, North Dakota and Southern Canada. Production in the Bakken has been more than 1.2 million barrels of oil a day at it’s peak. Production is now lower as a result of lower drilling activity levels.
Bakken News Oil Rig Count
Number of active drilling rigs in the Williston Basin.*
Information is from the Baker Hughes
Rig Count report dated 1/20/2016.
According to a 2013 article published by the USGS there are approximately 7.4 billion barrels of undiscovered, technically recoverable oil in the combined Bakken and Three Forks Formations in North Dakota, South Dakota and Montana. This is a incredably large amount of oil. These assessments of the two formations represents a 100% increase in projected recoverable oil from the 2008 assessment of 3.65 billion barrels of undiscovered oil in the Bakken Formation.
Here is a link to the USGS article for your review. USGS Bakken and Three Forks Assessment. If these assessments hold up over time, at a production rate of 365 million barrels a year, there would be just over 20 years of future production from just these two (2) formations.