Bakken Oil: "Life in Oil Country ... It's Just one 'fracking' after nother"
Published On: March 16, 2012
Commodity Report - Crude Oil - January - February 2012
Over 400 million years ago, a large oil deposit formed deep under what is now the border between North Dakota and Saskatchewan, as seen in Figure 1. The first oil well was tapped on land owned by a farmer named Henry Bakken in the 1950s. Today, the Bakken formation is thought to be the largest oil deposit in the Lower- 48. According to the US Geological Survey, its 15,000 square miles – extending over two US states and two Canadian provinces – hold some 4.3 billion barrels of oil ready to be tapped for drilling. Since its last estimate, the Geological Survey has been re-evaluating the resource, on a suspicion that there are 100 billion barrels of resource trapped within the Three Forks formation underlying the Bakken..... Download full report.January - February 2012