Bakken Shale

Bakken Shale ImageThe 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

Breitling Oil and Gas enters Bakken Shale

Dec 27, 2011

Irving, Tex.-based Breitling Oil and Gas Corp. said Dec. 27 that it has acquired a large acreage position in the Sand Creek field, a proven and prolific part of the Bakken shale formation in McKenzie County, North Dakota.

Ten largest operators account for 90% of 2011 Bakken growth

Dec 19, 2011

Investor group to gain shale play acreage with Samson acquisition

Nov 23, 2011

An investor group consisting of KKR, NGP, Crestview Partners and Itochu Corp., has signed a definitive agreement to acquire Samson Investment Co., one of the largest private exploration and production companies in the US, for $7.2 billion.

Statoil enters Bakken Shale with $4.4B purchase of Brigham Exploration

Oct 18, 2011

Norway’s Statoil ASA said Oct. 17 that it has entered into a merger agreement for Statoil to acquire all of the outstanding shares of Austin, Tex.-based Brigham Exploration Company for US$36.5 per share through an all-cash tender offer.

Kodiak adds to Bakken acreage with Williston Basin acquisition

Sep 28, 2011

Looking to add to its Bakken Shale leasehold, Kodiak Oil & Gas Corp. has entered into a definitive purchase and sale agreement with a private oil and gas company to acquire additional producing properties and undeveloped leasehold in the Williston Basin for approximately $235 million in cash.

Sionix leases North Dakota land for Bakken Water Treatment Plant

Aug 30, 2011

Sionix Corp. has executed an agreement with Dakota Solutions Inc. for the lease of property in Tioga, North Dakota for the construction and operation of a Waste Water Treatment Facility in the Bakken Shale Formation.

Halliburton to hire 11,000, mostly for Bakken Shale play

Aug 25, 2011

Houston-based Halliburton plans to hire more than 11,000 employees this year, according to Jim Brown, Western Hemisphere president of the company.

Magnum Hunter to buy North Dakota Williston Basin assets for $57M

Aug 5, 2011

A subsidiary of Magnum Hunter Resources Corp. has negotiated an agreement to purchase operated working interest ownership in oil and gas leases and 191 wells on roughly 15,500 gross acres over four counties in the Williston Basin of North Dakota from a private company for $57 million.

Leaving Bakken for emerging shale oil, Anschutz Exploration exits Williston Basin

Aug 1, 2011

The Anschutz Exploration Corp. closed the sale of its remaining operated and non-operated producing properties and undeveloped acreage in the Williston Basin of Montana and North Dakota to an undisclosed Canadian oil company for $115 million.

Brigham Exploration accelerating Bakken program

May 16, 2011

American Eagle, FX Energy to evaluate Alberta Bakken acreage

May 9, 2011

FX Energy Inc. has signed an agreement with American Eagle Energy Inc., and Big Sky Operating LLC, to jointly explore approximately 75,000 acres in the Alberta Bakken in Northwest Montana.

Magnum Hunter closes NuLock acquisition; adds Williston Basin acreage

May 3, 2011

Continuing its liquids-rich shale play growth, Magnum Hunter Resources Corp. and its newly-acquired subsidiary NuLoch Resources Inc. have acquired 16,800 gross acres in the Williston Basin in a “bolt-on” acquisition.

Bakken Shale wells improve steadily as Newfield Exploration picks up pace in Williston Basin

May 3, 2011

Newfield Exploration Co. has released its latest Williston Basin activities showing an aggressive pace and a steady improvement in Bakken Shale well performance.

Brigham Exploration scores record North Dakota and Montana Bakken shale completions

Apr 13, 2011

Austin, Tex.-based Brigham Exploration Co. (NASDAQ: BEXP) said April 13 that its Sorenson 29-32 #2H Bakken well produced a North Dakota Bakken record 5,330 barrels of oil equivalent during its early 24-hour peak flow-back period.

Continental Resources to relocate headquarters to Oklahoma City

Mar 21, 2011

Continental Resources said Mar. 21 that it plans to move its corporate headquarters from the small city of Enid, Okla., to Oklahoma City, the state’s capital and largest city.