Research on Bakken Formation’s Oil Reserves Nearly Completed

The U.S. Geological Survey is nearing completion of a research project that will attempt to quantify how much oil is contained in the Bakken shales formation and how much of it is recoverable.

Price estimated the Bakken formation may hold as many as 900 billion barrels of oil. But Price died in 2000 before the study could be published or peer reviewed.

Other estimates of the Bakken formation’s oil reserves have pegged the number at closer to 200 billion or 300 billion barrels.

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