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3 to 4.3 Billion Barrels of Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation
USGS ^
| April 10, 2008
Posted on 04/13/2008 8:58:51 AM PDT by billorites
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To: billorites
This was posted a few days ago.
2
posted on
04/13/2008 9:01:04 AM PDT
by
RightWhale
(Repeal the Law of the Excluded Middle)
To: billorites
Just waiting for Congress to halt this drilling.
3
posted on
04/13/2008 9:01:42 AM PDT
by
tennteacher
(Hunter Conservative)
To: billorites
A far cry from the 500 billion they were talking about.
4
posted on
04/13/2008 9:02:44 AM PDT
by
E. Pluribus Unum
(Islam is a religion of peace, and Muslims reserve the right to kill anyone who says otherwise.)
To: billorites
Oh please and interupt the mating cycle of the Yellow-headed Troupials.... Halt the drilling now.... /s
5
posted on
04/13/2008 9:06:37 AM PDT
by
Typical_Whitey
(Prepare to do your time as Corvee labor on the Plantation of Barack and Michell Obama.)
To: billorites
Hold on there!! The democRATs have put a 'HOLD' on any oil drilling within a 1000 miles of any Indian burial grounds:-()
AlGore has also warned that drilling in North or South Dakota will increase Global Warming:-()
6
posted on
04/13/2008 9:06:40 AM PDT
by
geo40xyz
(McCain, Obama or Hillarybeast possibility of 4 Supreme Court Justices, Gore @UN. The WINNER is?)
To: billorites
7
posted on
04/13/2008 9:07:16 AM PDT
by
kcm.org
(Now unto Him)
To: E. Pluribus Unum
It may have a total of 500B - just, only about 1% is recoverable (now).
8
posted on
04/13/2008 9:10:05 AM PDT
by
patton
(cuiquam in sua arte credendum)
To: billorites
“The next largest “continuous” oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana,” The Barnett Shale, Woodford Shale and Fayettville Shale will be bigger.
9
posted on
04/13/2008 9:10:06 AM PDT
by
richardtavor
(Pray for the peace of Jerusalem in the name of the G-d of Jacob)
To: billorites
Soon to be constructed in Montana... The World’s Tallest Barn!
10
posted on
04/13/2008 9:10:32 AM PDT
by
gridlock
(Proud McCain Supporter since February 8, 2008.)
To: E. Pluribus Unum
A far cry from the 500 billion they were talking about.
Yes quite a huge difference. Was the 500 billion something you’ve seen recently? I wonder if that wasn’t a mistype as the article refers to a twenty five fold increase over projections from the past of millions.... In any case it is good to see a reservoir this size in the US.
11
posted on
04/13/2008 9:12:15 AM PDT
by
deport
( -- Cue Spooky Music --)
To: billorites
12
posted on
04/13/2008 9:16:35 AM PDT
by
misterrob
(Obama-Does America Need Another Jimmy Carter?)
To: deport
It’s too early for any real solid estimates yet. This formation in the region has only been drilled seriously for the last 8 years and the drilling is slow and difficult, as well as very expensive.
Those earlier (200 to 500 Billion) estimates are way out of proportion to reality. The outlook is promising, but the actual statistics are still very limited.
13
posted on
04/13/2008 9:18:53 AM PDT
by
PSYCHO-FREEP
(Juan McCain....The lesser of Three Liberals.")
To: billorites
Man, if we could get all that oil out of there it would be one big Bakkennalia....yeeehawwww!
14
posted on
04/13/2008 9:20:02 AM PDT
by
HerrBlucher
(So often times it happens that we live our lives in chains and we never even know we have the key)
To: billorites
Isn’t this the same area that is slated to become the next National Park?
15
posted on
04/13/2008 9:22:47 AM PDT
by
R_Kangel
(`.`)
To: richardtavor
“Save the Chalks! Save the Shales! Stop drilling now!”
To: richardtavor
The reference was to "continuous" deposits of oil not gas [gas is likely to be the vast bulk of the future production from the Woodford shale as evidenced by current Barnett shale production.] Gas from shale may surprise the pessimists [it won't be easy or cheap but gassy shales cover a large area — the buzz in the popular press lately has been about the prospects in New York State / Pennsylvania for a significant gas from shale recovery. It is much easier to be an optimist about natural gas given that it can be produced economically from some reservoirs with quite low permiability.
As I understand it, the Bakken is a different animal. Free thermally mature oil, still in the source formation [or at least the sandy dolomitic layer between the thicker shale layers. Add in [hopefully for those drilling the well] some natural fracturing, and a gigantic assist from massive lateral(s) and likewise massive slick water frac jobs and you end up with some potentially very significant fields.
17
posted on
04/13/2008 9:38:48 AM PDT
by
R W Reactionairy
("Everyone is entitled to their own opinion ... but not to their own facts" Daniel Patrick Moynihan)
To: E. Pluribus Unum
The key word is “recoverable”. If 4-5 billion barrels are recoverable, more is down there. Perhaps the earlier estimates of hundreds of billions of barrels is wildly optimistic, but there is certainly more than 4-5 billion. Recoverable oil is based on existing technologies as well as the economic feasibility. Technologies have advanced dramatically since the mid 1990s, so it would be expected that the recoverable amount would increase. Also, the price makes it more feasible. Sometimes the technology exists but it’s too expensive. Imagine that some technology existed that could extract 30 billion barrels from this field, but it cost $150 per barrel to extract it. No one would bother drilling at the present time because they’d lose a fortune. When oil was $15 per barrel in 1995, they knew there was oil down there but it wasn’t feasible to extract. Over time, expect this field’s recoverable barrels to rise and fall as the price of oil fluctuates and technologies improve.
To: Dr. Bogus Pachysandra
The lawsuits haven’t even started yet, but I’m sure they’re in the works.
19
posted on
04/13/2008 9:46:17 AM PDT
by
ChocChipCookie
(<----- Typical White Person)
To: Cousin Eddie; deport; patton
20
posted on
04/13/2008 9:54:11 AM PDT
by
E. Pluribus Unum
(Islam is a religion of peace, and Muslims reserve the right to kill anyone who says otherwise.)
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