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> Billions of Barrels of Oil in Montana and N Dakota, U.S. Geological Survey


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  Posted: Oct 11 2008, 01:11 PM
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I was not aware of this ... but it is from the USGS ( U.S. Geological Survey)
It's validity and accuracy is up for question or debate if you ask anyone who is informed.

Source: http://www.usgs.gov/newsroom/article.asp?ID=1911

QUOTE
3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate—
Released: 4/10/2008 2:25:36 PM
Contact Information:
U.S. Department of the Interior, U.S. Geological Survey Office of Communication
119 National Center, Reston, VA 20192
Clarice Nassif Ransom, Phone: 703-648-4299
David Ozman, Phone: 720-244-4543
QUOTE
Reston, VA - 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.

A U.S. Geological Survey assessment, released April 10, 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.

Technically recoverable oil resources are those producible using currently available technology and industry practices. USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources.

New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and recent oil discoveries have resulted in these substantially larger technically recoverable oil volumes. About 105 million barrels of oil were produced from the Bakken Formation by the end of 2007.

The USGS Bakken study was undertaken as part of a nationwide project assessing domestic petroleum basins using standardized methodology and protocol as required by the Energy Policy and Conservation Act of 2000.

The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest "continuous" oil accumulation ever assessed by the USGS. A "continuous" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest "continuous" oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.

"It is clear that the Bakken formation contains a significant amount of oil - the question is how much of that oil is recoverable using today's technology?" said Senator Byron Dorgan, of North Dakota. "To get an answer to this important question, I requested that the U.S. Geological Survey complete this study, which will provide an up-to-date estimate on the amount of technically recoverable oil resources in the Bakken Shale formation."

The USGS estimate of 3.0 to 4.3 billion barrels of technically recoverable oil has a mean value of 3.65 billion barrels. Scientists conducted detailed studies in stratigraphy and structural geology and the modeling of petroleum geochemistry. They also combined their findings with historical exploration and production analyses to determine the undiscovered, technically recoverable oil estimates.

USGS worked with the North Dakota Geological Survey, a number of petroleum industry companies and independents, universities and other experts to develop a geological understanding of the Bakken Formation. These groups provided critical information and feedback on geological and engineering concepts important to building the geologic and production models used in the assessment.

Five continuous assessment units (AU) were identified and assessed in the Bakken Formation of North Dakota and Montana - the Elm Coulee-Billings Nose AU, the Central Basin-Poplar Dome AU, the Nesson-Little Knife Structural AU, the Eastern Expulsion Threshold AU, and the Northwest Expulsion Threshold AU.

At the time of the assessment, a limited number of wells have produced oil from three of the assessments units in Central Basin-Poplar Dome, Eastern Expulsion Threshold, and Northwest Expulsion Threshold.
The Elm Coulee oil field in Montana, discovered in 2000, has produced about 65 million barrels of the 105 million barrels of oil recovered from the Bakken Formation.

Results of the assessment can be found at http://energy.usgs.gov.

For a podcast interview with scientists about the Bakken Formation, listen to episode 38 of CoreCast at http://www.usgs.gov/corecast/

http://www.usgs.gov/newsroom/article.asp?ID=1911




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QUOTE
"Ye shall know them by their fruits"
~ Matthew 7:16

"Believe nothing. No matter where you read it, or who said it, even if I have said it, unless it agrees with your own reason and your own common sense."
~ Buddha
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Anarchaeologist
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Posted: Jan 21 2009, 03:23 PM
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There is also a veritable sea of natural gas in a subterranean basin stretching from Colorado, Oklahoma, New Mexico, Texas and possibly well into Northern Mexico. Oil wells in those same states were not shut down in the 70's because they ran dry but because it was more profitable to haul it in from the Middle East. I think we've talked before about the abiogenic source of oil which has resulted in so-called dry wells in East and West Texas mysteriously recharging themselves from naturally occuring hydrocarbons deep in the earth's crust. The high cost of oil is a phony manipulation by stock speculators as we have recently seen admitted. It's analogous to the artificial rarity of diamonds and the equally artificial value set on them by diamond cartels.


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Posted: Jan 21 2009, 03:36 PM
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QUOTE
we've talked before about the abiogenic source of oil which has resulted in so-called dry wells in East and West Texas mysteriously recharging themselves from naturally occuring hydrocarbons deep in the earth's crust


Hey Tex

Yes, the dry wells have re-filled -- but due to the greed of some, and yes you are right --- oil and gas prices have been manipulated for decades by those who profit greatly from it, we were not allowed to use our local oil reserves. I think it's been used as a tool to wage war --I know many selfish Americans who support slaughter so they can have their gas guzzling Hummers and suvs.

Hey --and remember before we were told we're in a recession --oil had reached $148 a barrel --then it miraculously dropped back down to 40 dollars a barrel.

And before we invaded Iraq to liberate them of their oil reseves, oil was around 25 a barrel.

We're all being played by men and women who lack creativity and their scheming plans are easily seen by those of us with eyes.




--------------------
QUOTE
"Ye shall know them by their fruits"
~ Matthew 7:16

"Believe nothing. No matter where you read it, or who said it, even if I have said it, unless it agrees with your own reason and your own common sense."
~ Buddha
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