So, back in 2005, what was the assessment for total recoverable oil from the Bakken?
- 1.4 million bbls (one day of current production)
- 14 million bbls (10 days of current production)
- 140 million bbls (five months of current production)
- 1.4 billion bbls (did North Dakota even know how to spell "billion"?)
- 14 billion bbls (that's ridiculous)
A Brief History of the Bakken: January, 2010.
Probably the most compelling evidence as to how changing exploration strategies and technologies are altering our perceptions of the oil and gas potential of the Williston Basin is found by comparing the technically recoverable reserves estimated by the North Dakota Department of Mineral Resources (DMR) in 2005 with those in the 2008 assessment (Bohrer et al.).
In 2005, the DMR estimated that just under 14 million barrels of oil were recoverable from the Bakken with the technology of that time. Three years later (2008), changing technology places the reserves at 2.089 billion barrels of recoverable oil. Even though the Bakken itself has not changed, our ability to extract oil from it has, so that as technology advances our ideas concerning the future possibilities of this resource must as well.In 2013, the USGS' mean estimate was in excess of 7.4 million bbls of recoverable oil from the Bakken/Three Forks. The USGS is currently reassessing the Bakken/Three Forks.
Wow!
ReplyDeleteI couldn't find the link but in 1995 the assessed Bakken was so incredibly low it was ludicrous. I found the link on my iPad browser; failed to save it; and, then couldn't find it when I got on the laptop.
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