The Bakken formation stretches over 25,000 square miles beneath North Dakota, Montana, Saskatchewan, and Manitoba. According to Continental Resources, the Bakken/Upper Three Forks formations hold an estimated 577 billion barrels of original oil in place. That means a 3.5% recovery factor translates into 20 billion barrels of recoverable light oil. Thanks to Bakken shale oil, North Dakota is on track to become the second highest producing oil state in the US after Texas.
We are looking for Canadian dividend paying oil and gas companies that derive a substantial percentage of their production from the Bakken formation. These companies are preferably … Continue Reading