In the grasslands of western North Dakota, one of the country's richest oil men is using a controversial gas drilling technology to develop what could be the biggest domestic oil discovery in the last 40 years.
The oil lies underground in a shale rock formation stretching across western North Dakota, northeast Montana, and into Canada's Saskatchewan Province known as the Bakken.From CNN/Money, March 9, 2011.
The quarter-million barrels a day currently being produced from the Bakken is already partly responsible for the glut of oil seen in Cushing, Okla., one of the United States' main oil storage and distribution hubs. The glut has helped distort U.S. oil prices in relation to the worldwide market.
What do "they" mean, quarter-million barrels? North Dakota is well above 330,000 bbls opd and without weather constraints should easily hit 400,000 bbls opd this summer.
More later.
And what is the current daily production from the ND Bakken?
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