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Captured CO2 for enhanced oil recovery could see North Dakota reach 5 billion barrels of Bakken oil this year. If so, that’s good news for Bakken leader Continental Resources of Oklahoma City.
It’s the prediction of Ron Ness, President of the North Dakota Petroleum Council.
“In mid-2024, we’re going to reach 5 billion barrels of Bakken oil. It took us about 60 years to reach a billion barrels of oil,” he told Prairie Public Newsroom.
He said the opportunity exists to extend the life of the Bakken another 30 to 50 years and production another 5 to 8 billion more barrels just because of technology. One such technology is using captured CO2 for the enhanded oil recovery.
John Harju, the Vice President for Strategic Partnerships at the Energy and Environmental Research Center agreed that more captured CO2 will be needed.
“I think if we don’t get adequate volumes of CO2 to our Bakken system, we’re going to leave 90-plus percent of the oil in the ground. We ought to be able to double the recovery that we would otherwise get without CO2.”
Source: Prairie Public Newsroom
The post Oil leader predicts 5 billion barrels of Bakken oil to be produced this year first appeared on Oklahoma Energy Today.
