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The Bakken oil formation is often referred to as the world's largest oil deposit and is located with the lower 48 of the United States of America. Its name is actually derived from the rock system which created the oil deposit over millions of years by compressing prehistoric organic matter high in carbon into methane-rich oil. The Bakken rock formation covers 200,000 square miles, covering a large area under North Dakota, Montana and the Canadian province of Saskatchewan.
The Bakken Oil formation STILL presents astounding wealth and opportunity for many people - companies, symbols, drillers, refineries, governments, consumers and the entire infrastructure which is raised around a major extraction project. Some cities will have their entire landscapes and economies transformed, similar to what has been seen to happen in places like Edmonton Alberta, another "oil town". it is possible that Bakken oil drilling be less damaging to the environment due to the fact that it contains sub-vertical naturally occurring fractures and fissures, which allow for larger areas to be drilled with the use of only one horizontal borehole.
Not much is known about the actual size of the Bakken oil reserve itself, due to many reason. First of all the technology for measuring the oil reserve is imperfect, and relies on a method for calculating hydrocarbon density which cannot in all cases be reliably extrapolated across such a large region. Various studies have been performed through the years, not all complete, ranging from Dow and Williams to Leigh Price with the USGS (in 1999) to a most recent estimate by the North Dakota Dept of Mineral Resources, who rebalanced the estimate at 167 billion. The fact is we just won't know how much oil is there until we have drilled the last drop.
The Bakken oil formation of 2010 is a great opportunity for drilling companies and stock tickers. if you are an investor you may consider following drilling permits, new companies and legislature. The Bakken oil stocks perform quite well and have attracted the attention of noteworthy investors. Bakken formation stocks are discussed in further detail on our site by clicking "Bakken Oil Stocks"