Bakken one of many
According to Chris Faulkner, CEO of Breitling Oil & Gas, the Bakken play is similar to 30 shale plays around the United States, and said there could be another 25 yet to discover. The Bakken is considered “unconventional” because of the oil trapped underground, and previously unreachable through traditional technology. With the advent of hydraulic fracturing, the Bakken began producing oil, and other shale plays around the United States can do the same with similar technology. Siberia claims to have an oil formation 80 times the size of the Bakken. See the KFYR TV story here. Read more about Russia’s oil shale play in the GPEC blog.