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It is named after Henry O. Bakken (1901–1982), a farmer in Tioga, North Dakota, who owned the land where the formation was initially discovered while drilling for oil. [3] Besides the Bakken Formation being a widespread prolific source rock for oil when thermally mature, significant producible oil reserves exist within the rock unit itself. [4]
Over the years, oil companies had drilled a number of dry holes through the oil-bearing Bakken shale at Parshall. Johnson had examined the well log of a decades-old dry hole drilled near the town of Parshall, and noticed that the Bakken interval looked similar to Bakken pay in the Elm Coulee Oil Field , a Bakken oil field on the southwest ...
The Bakken Formation, an organic-rich marine shale, was deposited in the Late Devonian. The Lodgepole Limestone was deposited during the Mississippian, followed by the Madison Group and the Big Snowy Group. The Tyler Formation was deposited in the Pennsylvanian, and consists of interbedded sandstone, siltstone, shale, and limestone.
It begins in the shale oil fields of the Bakken Formation in northwest North Dakota and continues through South Dakota and Iowa to an oil terminal near Patoka, Illinois. Together with the Energy Transfer Crude Oil Pipeline from Patoka to Nederland, Texas, it forms the Bakken system. The pipeline transports 40 percent of the oil produced in the ...
Night view of H&P drilling the Bakken. The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of the Parshall Oil Field in 2006, and peaked in 2012, [1] [2] but with substantially less growth noted since 2015 due to a global decline in oil prices.
For instance, the Three Forks and Bakken were combined in estimates of potential production released by the United States Geological Survey on April 30, 2013. The estimate by the USGS projects that 7.4 billion barrels of oil can be recovered from the Bakken and Three Forks formations and 6.7 trillion cubic feet of natural gas and 530 million ...
One popular shale formation outside of Texas is the Bakken, located in North Dakota, Montana, and parts of Canada. This liquids-rich shale has attracted many companies looking to capitalize on ...
Bakken Oil Field: United States, North Dakota: 1951 7.3 [38] Yates Oil Field: United States, Texas: 1926 1926 1929 3.0 (2.0 billion recovered; 1.0 reserve remaining) [39] [40] Kuparuk oil field: United States, Alaska: 1969 6 Alpine, Alaska: United States, Alaska: 1994 2000 2005 0.4–1 0.05 East Texas Oil Field: United States, Texas: 1930 6 ...