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Oil Prices: The Bakken formation is confirmed!

Posted April 14, 2008

“The Bakken is the largest ‘continuous’ accumulation of oil ever studied by the USGS. Its assessment estimates 3.6 to 5.3 billion barrels of recoverable oil in the formation. But what the USGS study doesn’t include are the massive reserves already discovered… and currently being drilled.” — Brian Hicks

Blogger’s note: With oil prices above $100, drillers are seeing possibilities where there were none a few years ago — paying the extra dime to draw oil from fields deemed too expensive when they were discovered. Now drillers are about to open up the Bakken formation oil field running under the Western U.S., and Brian Hicks has found a way to capitalize on all of that newly profitable oil. Watch his video on the Bakken or read on to learn more.

by Brian Hicks

Baltimore – (TFN): Yesterday the U.S. Geological Survey released its long-awaited report on the Bakken oil formation… and it shows a 25-fold increase in the amount of oil that can be recovered compared to the agency’s 1995 estimate of 151 million barrels of oil.

According to the report, the Bakken is the largest “continuous” accumulation of oil ever studied by the USGS. Its assessment estimates 3.6 to 5.3 billion barrels of recoverable oil in the formation.

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But what the USGS study doesn’t include are the massive reserves already discovered… and currently being drilled… as well as the rest of the formation that stretches into Saskatchewan. The total recoverable oil could be 10x that, at a minimum.

The Bakken story is heating up.

We believe the Bakken provides an unprecedented investment opportunity, but the chance to get in early is dwindling. Read on to learn more or check out our video about the behemoth oil formation.

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Posted by Brian Hicks · Filed Under Oil and Energy 

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