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Economic viability of core production area expands

An additional 3,000 square miles may now be considered economical for oil and gas drilling in the prolific oil- and gas-producing Bakken and Three Forks Formations. According to a recent presentation from the North Dakota Pipeline Authority, this expansion is due to technological advances in the industry. This translates to an additional 18 to 40 years of further oil drilling based on a price of oil at $60/barrel. After the wells are drilled, production is expected to last an additional 30 to 40 years. To see further analysis of this presentation see this Williston Herald article here.

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