Federal estimate of Bakken's future oil potential lowered after thousands of wells drilled

[NickB79]

https://bismarcktribune.com/news/state-and-regional/federal-estimate-of-bakkens-future-oil-potential-lowered-after-thousands-of-wells-drilled/article_287ac0a0-36b4-5153-a022-e1b4cdb61a94.html

Anew report from the U.S. Geological Survey suggests the Bakken and Three Forks rock formations contain another 4.3 billion barrels of untapped recoverable oil, a 40% drop from the agency's last estimate in 2013.

The decline is in part due to 11,000 wells that have been drilled into the formations in the last eight years, collectively producing billions of barrels of oil predicted in the earlier estimate.

"We weren't all that surprised that the number went down," State Mineral Resources Director Lynn Helms said Friday during his monthly press briefing on North Dakota's latest oil and gas data. "I think we were surprised how much the number went down."

Pumped 4 billion out, got 4 billion left. Sounds like Bakken is just about at peak. What a shame.

[2naSalit]

1. Good.

The sooner that is tapped out, the better.