Posted: Apr 30, 2013 1:14 PM by MTN News
A new assessment shows a two-fold increase of recoverable oil in the Williston Basin.
The United States Geological Service issued an updated oil and gas resource assessment for the Bakken and Three Forks Formation in Montana, North Dakota and South Dakota. The new estimate of 7.4 billion barrels of undiscovered, recoverable oil is twice as much as previously thought.
The increase is due to the large amount of recoverable oil discovered in the deeper Three Forks Formation. The study also found three times the amount of natural gas available for recovery.
Secretary of the Interior Sally Jewell said Tuesday the area's resource potential will continue to drive down our need for foreign oil.