North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation, according to a new USGS assessment. This assessment shows a 25-fold increase in the amount of oil that can be recovered compared to the USGS's 1995 estimate of 151 million barrels. Technically recoverable oil resources are those producible using currently available technology and industry practices. The USGS is the only provider of publicly available estimates of undiscovered, technically recoverable oil and gas. Results of the assessment can be found at the
USGS Energy Resources Program
Web site. For more information, listen to
Episode 38 of CoreCast
, the USGS podcast, or contact Clarice Ransom at 703-648-4429 or
cransom@usgs.gov
