USGS doubles Bakken reserves estimate
A new resource assessment by the US Geological Survey (USGS) has doubled previous reserve estimates of the Bakken and Three Forks formations in North Dakota, South Dakota and Montana
The USGS found that the formations hold an estimated mean of 7.4 billion barrels of undiscovered, technically recoverable oil, up from a 2008 estimate of 3.65 billion barrels. According to its revised numbers, the Bakken has an estimated mean oil resource of 3.65 billion barrels, along with 3.73 billion barrels in the Three Forks, with a range of 4.42 billion barrels (95% probability) to 11.43 billion barrels (5% probability). “These world-class formations contain even more energy resource potential than previously understood,” Interior Secretary Sally Jewell said in a statement. USGS said the revisions are justified due to better well and drilling data over the past five years. Since the 20
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
