Hoeven: Oil study due next year
Sen. John Hoeven said a re-evaluation of the amount of recoverable oil in the Williston Basin is slated to be completed late next year by the U.S. Geological Survey.
BISMARCK (AP) — Sen. John Hoeven said a re-evaluation of the amount of recoverable oil in the Williston Basin is slated to be completed late next year by the U.S. Geological Survey.
The North Dakota Republican said the updated assessment will likely be higher than earlier estimates and will spur more investment and infrastructure.
Hoeven said he met with USGS Director Marcia McNutt and other agency officials earlier this month. He said the USGS intends to send a team to North Dakota soon to collect core samples in the oil patch.
A USGS assessment in 2008 estimated up to 4.3 billion barrels of crude could be recovered in the Bakken formation of the Williston Basin, which includes the Dakotas and Montana. About two-thirds of the Bakken acreage is in western North Dakota.
More from around the web
RSS Feeds