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Is it true that the USGS released a report that states 3 to 4.3 billion barrels of technically recoverable oil assessed in North Dakota and Montana's Bakken Formation - - 25 times more than 1995 estimate?

Yes, this information is true. The report was released in April 2008. Additionally, in April 2013, the USGS has updated its 2008 assessment of the Bakken Formation and that assessment determined that from 4.4 to 11.4 billion barrels of technically recoverable oil remains to be found in the Bakken and Three Forks Formations of the Williston Basin Province.

 

Learn more: USGS National Oil and Gas Assessment (choose Williston Basin in the map to see all available documents and links).

 

Tags: Natural Resources, Energy, Gas, Oil, Bakken, Continuous Oil