NORX I am riding the Oil highway! THE BAKKEN

NORX I am riding the Oil highway!

THE BAKKEN FORMATION

The Bakken Shale Formation was entirely undeveloped until the oil and gas industry developed new technologies for horizontal drilling and fracking. Since then, development of this formation throughout Montana, North Dakota, Saskatchewan and Alberta has been unprecedented. The Bakken is America’s most immediate opportunity for a path to energy independence.

In the past 5 years the Bakken Shale has already doubled the proven oil reserves of the USA, with growing estimates of over 40 billion barrels of oil, compared to 21 billion for the rest of the country. On November 3rd, 2011, a new production record was set for a Bakken well when the Whiting Petroleum Tarpon Federal # 21-4H posted an IP of 7,009 BO in a 24 hour period. Wells with IP’s over 5,000 BOPD in the Williston Basin are no longer unusual. Currently, North Dakota has over 450,000 BO monthly production and is expected to top 1,000,000 BO by 2015. Industry experts predict that drilling will not slow until 2030, and that Bakken production will continue until 2100.