North Dakota Expecting More Investment After Study

May 2012, Vol. 239 No. 5

U.S. Sen. John Hoeven (R-ND) said a re-evaluation of the amount of recoverable oil in the Williston Basin is slated to be completed late next year by the U.S. Geological Survey. He said the updated assessment will likely be higher than earlier estimates and will spur more investment and infrastructure.

Hoeven met with USGS Director Marcia McNutt and other agency officials and reported that the USGS intends to send a team to North Dakota soon to collect core samples in the oil patch. A USGS assessment in 2008 estimated up to 4.3 billion bbls of crude could be recovered in the Bakken formation of the Williston Basin, which includes the Dakotas and Montana. Two-thirds of the Bakken acreage is in western North Dakota.

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