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How much oil and gas are actually in the Bakken Formation?

The USGS estimates that there may be 1.3 to 7.3 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation (with a mean estimate of 4.3 billion barrels). These are estimates of oil that has yet to be found, but if found, could be produced using currently available technology and industry practices. Estimates are based on an assessment of the geologic data.

An additional 4.9 trillion cubic feet of associated/dissolved natural gas and 0.42 billion barrels of natural gas have been estimated. These are mean values for undiscovered volumes.

Approximately 4 billion barrels of oil were produced from the Bakken and Three Forks Formations to date.

Learn more: Williston Basin Oil and Gas Assessments

 

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