Exploration and Production companies working in the Bakken

Oil Companies Develop New Technologies to Drive Production Costs Down in the Bakken Located primarily in North Dakota, the Bakken shale is near the top of oil field production in the United States. Even though it was discovered decades ago, the oil did not become economically accessible until the development of hydraulic fracturing (fracking) and horizontal drilling. Estimates on oil yields for the shale play range from a relatively conservative 4.3 billion barrels all the way up to as much as 40 billion barrels. The remaining value of the region is projected at close to $118 billion. Recent technologies and developments have significantly decreased the costs to drill and complete a well. Before 2011, the average well cost more than $10 million, which has dropped to between $7 to 8 million per well. Many companies are engaged in development and testing of new technologies and techniques in order to reduce costs and increase production even further. Continental Resources, Inc. As the t


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