Finding oil out in the Bakken shale in North Dakota is a hot topic for many energy exploration companies. The Bakken formation is known as a dependable supplier of crude oil and natural gas, but there's another, lesser-known region that promises to become the next big thing in the U.S. for oil and gas explorers called "the little Bakken," or "NeoBakken," because of its potential. Companies are snapping up acreage, doing deals and moving rigs into position as I type this.
This region is the Niobrara shale formation in Colorado, Wyoming, Nebraska and Kansas, in the region where the four states meet. This shale is in the Denver-Julesburg Basin, usually referred to as the DJ Basin.
Source: Seeking Alpha
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