Northern Oil and Gas, Inc
7.4 Billion Barrels of Recoverable Oil
On April 30, 2013, the United States Geological Survey (USGS) released an . The assessments found that the formations contain an estimated mean of 7.4 billion barrels of undiscovered, technically recoverable oil. The updated assessment for the Bakken and Three Forks represents a twofold increase over what has previously been thought.
The USGS assessment found that the Bakken Formation has an estimated mean oil resource of 3.65 billion barrels and the Three Forks Formation has an estimated mean resource of 3.73 BBO, for a total of 7.38 billion barrels, with a range of 4.42 (95 percent chance) to 11.43 BBO (5 percent chance). This assessment of both formations represents a significant increase over the estimated mean resource of 3.65 billion barrels of undiscovered oil in the Bakken Formation that was estimated in the 2008 assessment.
What are current lease rates for oil and gas in northern Michigan (like in Kalkaska County).? | Yahoo Answers
Bonus offers in that county vary depending on if it's the north half or south half of the county. The low is $2, average is $50 and high is $100 in southern, $500 in northern and 1/8th royalty. I would counter offer any lease offers. I have been a buyer of mineral rights in many states like North Dakota, Colorado, Oklahoma, Texas and other states with many years experience and could help you further if you'd like. My email address is: