Bakken Formation
The Bakken Formation is a rock unit occupying a substantial part of the subsurface of the Williston Basin, in Montana, North Dakota, and Saskatchewan and is believed to hold a significant amount of oil shale. The state of North Dakota released a report in April 2008 that estimated there are 167 billion barrels of oil in the Bakken. However, the report also concluded that current technology could only extract 1% or 2.1 billion barrels from the Bakken. In report published by the USGS in April 2008, the amount of technically recoverable oil in the Bakken Formation is at 3.0 to 4.3 billion barrels.
Steel Excel Acquires Eagle Well Services
MILPITAS, Calif.--(BUSINESS WIRE)-- Steel Excel Inc. (Other OTC: SXCL.PK) (the “Company”) announced today that it has acquired the business and assets of Eagle Well Services, Inc., a leader in the oilfield service industry serving customers in the Bakken basin in North Dakota and Montana. “We are excited to complete the acquisition of the Eagle Well Services business. This business complements the Rogue Pressure Services acquisition we completed last December. We are looking forward to having a major presence in the Bakken basin as well as the Eagle Ford basin in Texas,” said John ...
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