When a company enters oil and gas country, it wants to know there’s enough oil and gas in the ground that business will be robust for a long time.
One way it gets that assurance? An estimate from the U.S. Geological Survey showing how much oil and gas remains untapped.
Officials in North Dakota are pushing the agency do this for its Bakken and Three Forks formations.
Back in 2008 the USGS did a study in the Bakken, concluding the shale play contained 3.7 billion barrels of oil available for operators to extract.
Read more at http://insideenergy.org/2017/08/27/how-much-oil-does-north-dakota-have-state-wants-a-new-estimate/.
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