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June 15, 2010

US Bakken Oil Forecast to be 579,000 Barrels of Oil Per day in 2020

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GlobalData’s new report “Bakken Shale in the US - Oil Shale Market Analysis and Forecasts to 2020 forecasts 211.4 million barrels in 2020 from the US Bakken, at an AAGR of 9.9%.

This would be 579,000 barrel of oil per day.

April had 284348 barrels of oil per day in North Dakota (about 180,000 barrels of oil from the Bakken.) 62% of the oil in North Dakota was from the Bakken in 2009



The production from the US Bakken shale increased from 9.3 MMboe (Million barrels of oil equivalent) in 2004 to 70.9 MMboe in 2009, at an average annual growth rate (AAGR) of 40.6%.


2010 could see oil production from the US Bakken shale of 100 MMBoe.

There have been other predictions of increases to 400,000 to 450,000 barrels of oil per day by 2013.

There is continued improvement in the production on oil wells in the Bakken.

Water Flooding is promising to triple the recovery rate in Canada's part of the Bakken from 10% to 30% of the inplace oil.

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