Hoeven, industry want study of North Dakota oil potential
September 15, 2017
BISMARCK, N.D. (AP) — North Dakota oil drillers and U.S. Sen. John Hoeven want federal geologists to reevaluate the amount of recoverable crude oil in the state, saying a new assessment likely would show stronger production potential and attract investment.
The U.S. Geological Survey once said two massive shale formations found in North Dakota held the largest continuous oil accumulation it ever assessed. But the title was given to a formation in Texas' Permian Basin last year, after a USGS assessment found nearly three times the amount of recoverable oil than in the Bakken and Three Fork...