IF YOU HAVE MINERAL ACRES AVAILABLE FOR LEASE

in North Dakota, Montana, Colorado, Wyoming or Oklahoma, please contact us:

Dan Koller, President 
EMAIL 

 
Anthony Aderhold, VP Business Development
EMAIL

General Information

Why Invest in the Bakken and Three Forks Formations?

  • Privately Owned Mineral Rights: The majority of mineral rights in the Bakken are privately owned, which makes oil and gas exploration easier compared to state or federal land.

  • Geological Opportunities: The Williston Basin offers a variety of geological formations, providing multiple opportunities for oil extraction. The Three Forks formation, for example, contains multiple layers of petroleum deposits, with up to three separate benches being tested. This allows for multi-well spacing units, where companies estimate that 4-8 wells per unit will fully develop the area, and some analysts expect as many as 12-16 wells per unit, including wells in the Three Forks layers.

  • Advancements in Completion Techniques: Modern oil well completion methods, such as increasing the number of hydraulic fracturing stages, have significantly boosted production. For example, Whiting Petroleum's new techniques have increased initial production rates from 587 BOE/day to 1,290 BOE/day.

  • Improving Recovery Factors: The current recovery factor for the Bakken is between 3-4% of the original oil in place (OOIP). With continued technological advancements, this recovery rate could rise to 5-20%.

  • Quick Breakeven Times: Wells in the Bakken and Three Forks have relatively short breakeven times, typically ranging from 1-4 years.

  • High-Quality Oil: The Bakken and Three Forks formations have a high oil-to-gas ratio (85-90%), and the crude oil has a quality comparable to West Texas Intermediate (WTI) sweet crude, making it highly valuable.

  • Active Drilling and Acquisition Market: With high levels of drilling and acquisition activity, there are plenty of opportunities to capitalize on in the region.

  • Declining Drilling Costs: Since spring 2012, average drilling costs have stabilized and even declined, making it more economically feasible to develop new wells.

Thank you for visiting Black Bear Resources! For more information, including oil and gas terminology and documents related to mineral leasing, please explore the links provided. If you have any questions, feel free to reach out – we’d love to hear from you!