Project Overview: The Bakken Shale Project
The Company has purchased a 50% working interest (W.I.) in 1,475 gross mineral acres located in Burke County, North Dakota U.S. Bakken Shale (located within the Williston Basin) in partnership with Oasis Petroleum (NYSE: OAS).
About the Williston Basin:
The U.S. portion of the Williston Basin encompasses over 140,000 square miles (or ‾90 million acres) in North Dakota, Montana, and South Dakota. See Exhibit 102. This bowl‐shaped cratonic (pancake) basin is structurally‐simple with limited faulting and flat‐lying sediments. The basin deepens towards the center of the play, along the Nesson Anticline, reaching over 15,000 feet. Historically, most of the oil produced has come from the conventional Madison limestones. However, the combination of high oil prices and the advent of horizontal drilling and multi‐stage completions shifted focus to the Devonian‐aged Bakken, highly organic resource containing over 3.65 billion barrels of oil‐in‐place.
Source: United States Geologic Survey