In almost exactly a decade since the first successful horizontal well was drilled deep below the North Dakota plains, the Bakken field has released more than 1 billion barrels of oil.
Oklahoma City-based Continental Resources is by far the largest operator in the Bakken field and is credited with proving the area can be produced economically.
The first well was drilled in the first quarter of 2004, and Continental announced this week the field produced its 1 billionth barrel in the first quarter of this year, according to data collected by IHS.
“This milestone validates the immense potential of the Bakken field and development is just beginning,” said Jack Stark, Continental’s senior vice president of exploration. “Two-thirds of this oil was produced in the last three years. This is something our country can celebrate as the oil and natural gas industry continues to create jobs, grow our economy and secure America’s future.”
In south Texas, the Eagle Ford is growing even faster. Serious oil drilling in the area didn’t begin until 2009, and total oil production in August 2013 passed 1 million barrels per day, a level the Bakken is approaching, but has not yet reached.
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