I blogged recently about this huge oil field under the Dakotas. While the initial estimates were high, this report still contains great news.
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 of the Williston Basin, according to a just-released assessment by the US Geological Survey (USGS). This latest assessment shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.
The assessment also identified 1.85 trillion cubic feet of associated/dissolved natural gas, and 148 million barrels of natural gas liquids.
Drill. Drill. Drill.