Bakken Shale
The Bakken shale is primarily an oil play. It straddles the US border with Canada and runs through two states – North Dakota and Montana – and two Canadian provinces – Saskatchewan and Manitoba. The US Geological Survey estimates there are 3.65 billion barrels of recoverable crude oil in the Bakken, which would make it the largest oil field in the US outside Alaska. The Bakken is located in the Williston Basin, but not all of the basin includes the Bakken.
The Sanish-Three Forks area is located below the Bakken shale zone and is potentially another new oil reservoir. Brigham Exploration Co. has been active in this area. Natural gas is also found in some parts of the Bakken. The USGS estimates there is about 2.0 trillion cubic feet of gas and another 150 million barrels of natural gas liquids. Major players in the Bakken include EOG Resources, Continental Resources, and Enerplus Resources.
Bakken Shale Map
Bakken Shale News
Guardian Exploration buys additional Alberta Bakken acreage
Mar 4, 2011
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Report: Private companies hold key to Bakken Shale in ND
Feb 15, 2011
A special study that compared well performance of private versus public companies operating in the Bakken/Three Fork shale play in North Dakota shows that smaller, private companies have some of the best acreage and wells in the region, says IHS. |
Magnum Hunter grows liquids rich shale with NuLoch acquisition
Jan 20, 2011
Magnum Hunter Resources Corp. is growing its Bakken Shale acreage with a definitive agreement to acquire Williston Basin focused NuLoch Resources for US$327 million. |
JayHawk buys into North Dakota Bakken, Three Forks
Jan 20, 2011
Oil and gas exploration, development and production company JayHawk Energy Inc. has acquired leases in the Bakken shale and Three Forks unconventional oil play in Divide County, North Dakota. |
Hess capex includes Tioga plant expansion
Jan 1, 2011
New York-based Hess Corporation announced its 2011 capital and exploratory budget of $5.6 billion on Jan. 7, nearly all of which is targeted for exploration and production: $3.1 billion for production, $1.6 billion for developments, and $900 million for exploration.
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Bakken may double production in 10 years
Jan 1, 2011
Formation has largest oil deposits in North America outside the oil fields of Alaska
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Hess acquires additional Bakken acreage for $1.05 billion
Dec 29, 2010
Hess Corp. said Dec. 29 that it has completed the acquisition of 167,000 net acres in the Bakken oil shale play in North Dakota from privately-held TRZ Energy LLC for $1.05 billion in cash. |
ONEOK Partners to invest up to $240 million in Cana-Woodford Shale and Granite Wash
Dec 15, 2010
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Brigham announces 5 high-rate Bakken completions
Dec 15, 2010
Brigham Exploration Co. says it has completed 5 high-rate Bakken shale wells at an average early 24-hour peak flow back rate of 3,085 barrels of oil equivalent. |
Occidental to sell Argentine assets, buy Bakken, other US asset
Dec 10, 2010
Oil producer Occidental Petroleum Corp. recently announced plans to pay $3.2 billion for certain US assets while selling assets in Argentina to China for $2.5 billion. |
American Standard adds Bakken, Three Forks acreage
Dec 2, 2010
American Standard Energy Corp. has agreed to purchase additional Bakken and Three Forks acreage including partial interest in 26 additional gross wells, of which 15 are currently producing, 10 completing and one drilling. |
Hess acquires more Bakken acreage for $1.05B
Nov 23, 2010
Hess Corp. has agreed to acquire 167,000 net acres in the Bakken oil shale play in North Dakota from TRZ Energy LLC for $1.05 billion in cash. |
Williams diversifies interests with Bakken acquisition
Nov 15, 2010
Integrated natural gas company Williams (NYSE: WMB) is diversifying its exploration and production interests with a recent acreage acquisition in North Dakota’s Bakken formation. |
US producers show steady gain in revenues, net income for 2Q10
Nov 1, 2010
It's become clear that the domestic oil and gas industry in the United States has made a dramatic comeback since financials fell into a deep pit in late 2008 and early 2009.
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Niobrara the next Eagle Ford?
Oct 8, 2010
Investors will continue to abandon natural gas sensitive areas and refocus on oil, specifically the Niobrara, noted a September 29 report from Jefferies & Co. Inc. |
The “natural gas revolution” is changing global energy dynamics, including the outlook for energy security in the United States and elsewhere. In his keynote speech to the annual 31st annual CERAWeek Executive Conference in Houston, Peter Voser, CEO of Royal Dutch Shell plc, outlines what the industry and policymakers must do to ensure society fully leverages the many benefits of natural gas. He calls for well-targeted and robustly enforced regulations to ensure tight and shale gas production meets the highest standards. He also urges the industry to do a better job of listening and responding to public concerns about the environmental and operational challenges associated with gas production.
Read the full speech by Peter Voser here.
The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US. A major trend in the energy sector driving the increase in deal value throughout the year was a shift towards more investments in oil and liquid plays as natural gas prices remained depressed amid hitting a 10-year low in 2011.
Read more here.
Can the shale gas r
evolution currently taking place in the US be repeated elsewhere? Although significant volumes of unconventional gas deposits are present in Poland, France, Germany, Hungary, Sweden, Turkey, and the UK, shale gas developments are running many years behind their counterparts in the US. Skeptics have pointed out that differences in geology, taxes, public acceptance, environmental regulations and other factors in Europe vs. the US make for a tougher environment in which to develop unconventional resources.
Read the article by Bart J. A. Willigers of Palantir Solutions Ltd. here.
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