BISMARCK, N.D. – The U.S. Geological Survey says it will perform a new assessment of the Bakken and Three Forks oil formations in North Dakota and Montana.
Secretary of Interior Ken Salazar made the announcement Thursday. He says there’s “significant new geological information” and new oil drilling technologies since the government did its last study in 2008.
That assessment estimated up to 4.3 billion barrels of crude could be recovered using technology at that time. The agency called it the largest continuous oil accumulation it has ever assessed.
North Dakota politicians have called for the new study, saying it would help spur investment in the state’s oil patch.
The USGS says the two-year study will begin in October.
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