The state also has been setting new production records almost every month, the report states. Studies conducted by the North Dakota Department of Mineral Resources in 2008 and 2010 indicate 4 billion to 6.3 billion barrels of recoverable reserves in North Dakota, it said.
Newly discovered reserves in formations dubbed Lodgepole, Tyler, and Spearfish — along with improvements in extraction technology — could double the Peace Garden State’s oil output by the end of the decade, from the 350,000 barrels a day produced at the end of 2010.
“Experts predict at least an additional ten to twenty years of intense drilling and development, followed by several more decades of continued petroleum production,” the report noted
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