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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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McKenzie County
201 5th Street NW
Watford City, ND 58854
701-444-3616
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