Bakken Shale Oil Formation - Largest Oil Pool Found In McKenzie County - Bakken Shale & Three Forks

Zone
The Bakken Shale Oil field, which stretches down from Canada into North Dakota and Montana, could hold over 4 billion barrels of oil reserves. This would make the Bakken formation the largest oil discovery in the U.S next to the Oil fields in Alaska. Located in the Williston Basin, the Bakken Formation is a rich oil deposit that the U.S. Geological Survey calls the largest continuous oil accumulation it has ever assessed. On top of this, landowners are striking it rich as they sell their drilling rights ( mineral rights ) to drilling companies. In 1995, the USGS surveyed the Bakken area in which they found roughly 151 million barrels of recoverable oil. Since then, drilling technology has improved causing reserve estimates to spike up between 6 - 24 billion barrels of recoverable oil. The largest current oil field, which is located at the Arctic National Wildlife Refuge in Alaska ( ANWAR ), could potentially hold up to 10 billion barrels of oil. However, the ANWAR presently has a drilling ban on it due to environmental reasons. The Bakken Shale Play, also referred to as the North Dakota Shale, was deposited in the more central and deeper portion of the Williston Basin. In addition to North Dakota, Montana, and Saskatchewan, a small part of Manitoba and Alberta are involved in Canada. The Williston Basin extends down into South Dakota as well but is not considered part of the Bakken Oil Shale Play. The South Dakota portion is considered the Red River Play. However, In 2011, a new pool of oil has been found in Montana and up towards Alberta Canada. This play is being called the Alberta Bakken Shale. Where is Oil in Bakken Shale Formation being drilled for the most? There have been a record number of oil drilling rigs grinding away at the land. There are now over 6.000 active oil wells in the Bakken Shale Field ( most in North Dakota & Montana ) and that estimate is expected to rise as more and more oil is extracted. Some of the sweet spots in Baken Shale Oil Field by City are: Sidney, MT - Terry, MT - Williston, ND - Parshall, ND. Bakken Shale Oil Field Counties: Williams County, ND - Divide County, ND - McKenzie County, ND - Mountrail County, ND - Dunn County, ND - Mercer County, ND - Billings County, ND - Stark County, ND Morton County, ND - Burke County, ND - Richland County, MT - Dawson County, MT - Wibaux County, MT - Roosevelt Co, MT - Prairie County, MT . Oil companies are using Horizontal Drilling under the town of Parshall, which is home to less then 1,000 in population. Williams County and McKenzie County, North Dakota are the most active areas of exploration in the Bakken Shale with the highest daily production numbers. Another big hot spot in the Bakken Shale right now is an area called the Three Forks - Sanish area. A company called Brigham Exploration Co. (BEXP) has one of the best wells drilled in the Sanish/Three Forks. This well has produced over 5,000 BOEPD in a 24 hour period. The Sanish Three Forks has been very exciting for companies such as Whiting Petroleum and Continental Resources also. See Below! The Sanish - Three Forks region is

located in Montrail, McKenzie, and Dunn County in North Dakota as well as several other nearby counties. The three forks area is located below the upper Bakken Shale zone and is most likely a separate oil reservoir. This would open up a whole new opportunity for companies that have a position in the Sanish/Three Forks region in the Bakken Shale. As of 2011, it has been said that the Three Forks zone has been proven to be a whole new oil reservoir. The Bakken Shale continues to expand and areas like the Sanish/Three Forks are causing total Bakken oil reserve estimates to go up. Natural Gas - Natural Gas has also been found deep down in Bakken Shale Field. The USGS estimated that there could be over 2 Trillion cubic feet in this area. The Bakken Shale could emerge one day as a natural gas discovery as well. The Bakken Shale will end up being the largest oil discovery the world has seen in 30-40 years. The Bakken Shale lifespan will extend well beyond 2020. Back in 2008, when the Bakken Shale started heating up, nobody imagined we had so much oil in North Dakota and Montana. Each day, new wells are being drilled, more counties are being added into the prospective area, and jobs are being created. North Dakota has one of the lowest unemployment rates in the country with the bakken shale creating high paying jobs. Bakken Shale Formation 2012: Drilling continues to see growth in the Bakken Shale in 2011. Oil prices are around $94 as we head into 2012. The prospects for the Bakken Shale look bright in 2012. I am expecting oil to hit the $90-$100 zone again at some point but with a possible recession looming, we could see the price of oil to hit $70 a barrel. As long as the price of oil stays above $70, companies will continue to contract huge multi-billion dollar joint ventures. The Bakken Shale is by far the most productive oil field in the United States right now!