While an exact, real-time figure for the oil remaining in the Bakken oil field is dynamic and subject to ongoing production, current estimates of its total reserves provide insight into its vast potential. Recent assessments indicate that the Bakken oil field holds approximately 18 billion barrels in total reserves. Broader estimates suggest this figure could be as high as 24 billion barrels, encompassing both recoverable and non-recoverable oil with today's technology.
Understanding Bakken's Oil Potential
The term "total reserves" in this context refers to the comprehensive estimated amount of oil within the Bakken formation. This includes:
- Recoverable Oil: Oil that is currently economically and technologically feasible to extract.
- Non-Recoverable Oil: Oil that is not yet viable to retrieve with existing methods, but still present within the formation.
Therefore, these estimates represent the overall oil resource available in the field, indicating the substantial quantities of oil that remain within the formation.
To illustrate the range of these significant estimates, consider the following:
| Estimate Type | Estimated Quantity (Barrels) | Description |
|---|---|---|
| Recent Estimate | 18 billion | A more specific, recent assessment of the total estimated reserves. |
| Broader Estimates | Up to 24 billion | Encompasses both recoverable and non-recoverable oil with current technology. |
These estimates highlight the Bakken formation's status as a major contributor to oil production, with substantial amounts of oil still embedded within its geology. The actual quantity of oil currently remaining to be extracted is a dynamic figure that changes daily with production, but these reserve estimates indicate the massive scale of the resource that has not yet been brought to market.
