Wood Mackenzie anticipates that oil production in the North Dakota and Montana sections of the Bakken and Three Forks formations will grow to 1.7 million barrels per day in 2020. Oil production in North Dakota and Montana’s Bakken and Three Forks formations will average 1.1 million barrels per day in 2014 according to Wood Mackenzie. The Bakken is the most productive pure crude oil play in the US, with oil volumes averaging one million barrels per day in the first quarter of 2014, and we estimate it will attract more than US$15 billion in development capex this year alone.
The most impressive initial production (IP) rates are currently being generated from the Nesson Anticline, with 30-day IP rates averaging more than 1,000 barrels per day
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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