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
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. |
Lario Oil & Gas acquires interest in Bakken, Three Forks acreage
Oct 7, 2010
Privately held Lario Oil & Gas Co. has acquired, in conjunction with an undisclosed partner, approximately 23,000 net acres of rights targeting the Bakken and Three Forks formations from Rocky Mountain Exploration Inc. |
Canada's Archer appoints Perrier new CEO
Sep 27, 2010
Archer Petroleum Corp. has named Claude V. Perrier III CEO and a director of the company. |
Voyager makes debt offering to fund Niobrara, Bakken development
Sep 23, 2010
Voyager Oil & Gas Inc. has issued $15 million in 12% senior secured notes to raise money for drilling and development of the company’s position in the Denver-Julesberg Basin Niobrara formation and the Williston Basin Bakken/Three Forks formation. |
Latest SM Energy Bakken well appears mediocre
Sep 20, 2010
SM Energy’s latest Bakken shale well, the Nelson 4-29H in McKenzie County had an initial production rate of 671 boepd. The well is located in the Bear Den prospect of North Dakota where the company holds 17,000 acres. |
Brigham offers $250M in Senior Notes
Sep 16, 2010
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Brigham Exploration details high rate Bakken completions
Sep 9, 2010
Brigham Exploration Co. has completed four Bakken wells in its Ross and Rough Rider project areas. To date, Brigham has completed 32 long lateral high frac stage wells in North Dakota with an average early 24-hour peak flow back rate of 2,643 boe. |
Whiting Petroleum cash flow enough for increased activity in newly acquired Williston Basin acreage
Sep 7, 2010
Whiting Petroleum Corp. has acquired oil and gas leasehold interests covering 90,174 net acres in the Montana portion of the Williston Basin believed to be prospective in both the Bakken shale and Three Forks formations. |
Shale activity boosting M&A market
Sep 1, 2010
The US economy may be stalled, but the energy transaction market is not. At least that's the impression I got from a recent breakfast presentation by the Houston office of Madison Williams during the Summer NAPE event.
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Shale activity boosting M&A market
Sep 1, 2010
The US economy may be stalled, but the energy transaction market is not. At least that's the impression I got from a recent breakfast presentation by the Houston office of Madison Williams during the Summer NAPE event.
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Enbridge launches $550M Bakken expansion
Aug 24, 2010
Houston’s Enbridge Energy Partners LP and Enbridge Income Fund in Calgary have launched a joint project to expand crude oil pipeline capacity to accommodate rapidly growing production in the Bakken and Three Forks formations in North Dakota and Montana in the US and the Canadian provinces of Saskatchewan and Manitoba. |
Bakken Shale has largest oil deposits in US outside the oil fields of Alaska
Aug 1, 2010
Located in the Williston Basin in Montana and North Dakota and in the Canadian provinces of Saskatchewan and Manitoba, the Bakken Shale subsurface formation is mainly an oil play.
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Bakken Shale has largest oil deposits in US outside the oil fields of Alaska
Aug 1, 2010
Located in the Williston Basin in Montana and North Dakota and in the Canadian provinces of Saskatchewan and Manitoba, the Bakken Shale subsurface formation is mainly an oil play.
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Devon and Chesapeake are top ranked companies in Barnett Shale production
Aug 1, 2010
Oklahoma City-based Devon Energy, the eighth-largest oil and gas producer in the United States based on total assets and stockholder equity, ranks as the top producer in Texas' Barnett Shale.
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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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