North Dakota’s Bakken Oil Play
Mountrail County is a rolling grassland of nearly 2000 square miles in northwestern North Dakota. The county’s economy has long been based on agriculture. It is a land of farms and ranches together with small towns providing services to the rural population.
In 2007 the county found itself in the heart of the state’s oil development, thanks to the Bakken Formation.
The Bakken (BAH-ken) is a vast, deep formation of permeable rock rich in both natural gas and quality crude oil. The Bakken is also being tapped in Montana and Saskatchewan.
During 2008 the oil and gas fields in Mountrail County expanded as fast as labor, materials, housing, transportation and state permitting allowed. The expansion was fueled by innovative drilling and extracting technologies and, initially, favorable crude prices. Activities slowed down during the winter; it continues to pick up as summer weather and prices become more favorable.
Newcomer to North Dakota’s oil and gas industry? In addition to information in BakkenBlog, you’ll find this 9-page FAQ from the North Dakota Petroleum Council (PDF format) very helpful. Topics include:
1. •Surface Owner Questions
2. •Mineral Owner Questions
3. •Regulatory Questions
4. •Bakken Basics
5. •Royalties and Tax Questions
6. •Oil and Gas Production
7. •Roads, Pipelines and Electrical Transmission Questions
Related posts:
- Northern Oil and Gas, Inc. Announces Agreement to Purchase Additional Bakken Acreage in Dunn County, North Dakota
Northern Oil and Gas, Inc. (Amex: NOG – News; “Northern Oil”) announced today that it has entered into an agreement... - Assessment of Undiscovered Oil Resources in the Devonian-Mississippian Bakken Formation, Williston Basin Province, Montana and North Dakota, 2008
Abstract Using a geology-based assessment methodology, the U.S. Geological Survey estimated mean undiscovered volumes of 3.65 billion barrels of oil,... - Bakken Shale Oil Formation – Largest Oil Pool Found – Parshall Field in Bakken Shale
The Bakken Shale Oil field, which stretches down from Canada into North Dakota and Montana, could hold 3.65 billion barrels...
Comments
Leave a Reply
