"BISMARCK – A federal report on how lucrative potential oil production is in the Bakken Shale formation will be released Thursday.
Sen. Byron Dorgan, D-N.D., and the North Dakota Industrial Commission have pushed the U.S. Geological Survey for nearly two years to complete a new study of the Bakken, which underlies western North Dakota, eastern Montana, southern Saskatchewan and southwestern Manitoba.
Dorgan and other North Dakota officials sought the new study because a previous USGS study in 1999 was never released when its author, Leigh Price, died before it could be peer-reviewed. Price estimated the formation holds up to 400 billion barrels of oil.
By contrast, the Arctic National Wildlife Refuge is estimated at 16 billion barrels.
Dorgan said he and the USGS will hold a briefing Thursday.
Dorgan spokesman Justin Kitsch said it is likely that the USGS would make the full report available on its Web site the same day.
Don Canton, a spokesman for Gov. John Hoeven, noted that the North Dakota Division of Mineral Resources’ Oil and Gas Division is also doing a study of the Bakken formation that is specific to North Dakota’s geology. The results will be released at a Williston Basin Petroleum Conference in Minot on April 28."
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