TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Bakken oil fields mark billionth barrel

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Wednesday, April 30, 2014, 12:01 a.m.
 

State data show that 1 billion barrels of oil have been produced from the rich Bakken shale formation in western North Dakota and eastern Montana.

Drillers first targeted the Bakken in Montana in 2000 and moved into North Dakota about five years later using advanced horizontal drilling and fracking techniques.

Data show North Dakota has tallied 852 million barrels of Bakken crude and Montana has produced about 151 million.

The Bakken encompasses about 25,000 square miles in North Dakota, Montana, Saskatchewan and Manitoba. About two-thirds of the acreage is in western North Dakota.

Oklahoma-based Continental Resources is the biggest leaseholder in the Bakken. The company said two-thirds of the production from the Bakken has been extracted in the past three years.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Iron ore price decline hurts U.S. Steel’s cost advantage over rivals
  2. Stock market logs 5th straight week of gains as Dow hits record high
  3. Mark Phelan: Cadillac, Mercedes hope to win at name game
  4. Pennsylvania unemployment rate drops to six-year low
  5. Health care, gas drilling industries await Gov.-elect Wolf’s footprint
  6. Know flat-rate repair times
  7. CEOs in 10 big mergers to get $430M: Equilar study
  8. New York Fed chief defends supervision of banks before Senate panel
  9. Ford: Aluminum-body truck to get 26 mpg
  10. Sonata exudes class
  11. U.S. Steel reorganizes operating units
Subscribe today! Click here for our subscription offers.