Right here in America there is a modern day oil & gas boom. Using a geology-based assessment methodology, the U.S. Geological Survey estimated mean undiscovered volumes of 3.65 billion barrels of oil, 1.85 trillion cubic feet of associated/dissolved natural gas, and 148 million barrels of natural gas liquids in the Bakken Shale Formation of the Williston Basin Province, Montana and North Dakota.

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Wednesday, December 8, 2010

Whiting Says Flow From Leaking Bakken Well Slows

Nov 22 (Reuters) - Whiting Petroleum Corp (WLL.N: Quote) said its leaking well in the Bakken shale was flowing about 120-168 barrels of oil per day, down 75 percent from its initial flow rate, two days after a valve failure.

Oil, natural gas and water had started flowing from one of the company's wells in the booming Bakken shale, about eight miles northwest of Newtown, North Dakota, on Saturday.

On Monday, the company said flow from the well had fallen to about 1,200-1,680 barrels of fluid per day -- with oil accounting for about 10 percent of it.

Source: Reuters
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