Submitted on April 17th, 2008 by Pokey (not verified)
Please review the USGS report. The USGS only used 1/3 of the Bakken Formation in their calculation which came to 3,645 MMBO (using new horizontal drilling technology). Another 1/3 they used conventional drilling assumptions (old technology) and calculated only 4 MMBO and the last 1/3 they assigned nothing because of lack of data.
They are probably assuming a conservative 3-4 percent recovery of available 100+ Billion Barrels from the 1/3 that the calculated using new technology. As this technology is refined it may show are MUCH high recovery percentage. The other 2/3 has not been estimated using the new technology.
So basically the USGS is being very conservative and there is somewhere between the 3.6 Billion and about 200 Billion recoverable
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Bakken
Submitted on April 17th, 2008 by Pokey (not verified)Please review the USGS report. The USGS only used 1/3 of the Bakken Formation in their calculation which came to 3,645 MMBO (using new horizontal drilling technology). Another 1/3 they used conventional drilling assumptions (old technology) and calculated only 4 MMBO and the last 1/3 they assigned nothing because of lack of data.
They are probably assuming a conservative 3-4 percent recovery of available 100+ Billion Barrels from the 1/3 that the calculated using new technology. As this technology is refined it may show are MUCH high recovery percentage. The other 2/3 has not been estimated using the new technology.
So basically the USGS is being very conservative and there is somewhere between the 3.6 Billion and about 200 Billion recoverable