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
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
