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The Bakken Formation: Potential
Realized through Innovation
Joshua Wolcott
Introduction
• Joshua Neale Wolcott is director of operations with the
Denver-based Cimarron Resources, Inc. With extensive
project management experience in the financial and energy
industries, Joshua “Josh” Wolcott is currently working with
his firm to evaluate a shallow drilling project in the Bakken
Formation.
The Bakken Formation is a large oil play that lies underneath
Montana and North Dakota in the United States, and
Saskatchewan and Manitoba in Canada. One of the largest
deposits of oil and natural gas in the United States, the US
Geological Survey estimates that 3.65 billion barrels of
recoverable crude oil exist in the play.
Bakken Formation
• Discovered back in 1951, it was only recently that
the Bakken Formation has been seen as a viable
source of oil. Due to advances in technology such
as hydraulic fracturing and horizontal drilling,
crude that was once untouchable can now be
recovered through the relatively impermeable
rock formations. This new availability has been a
boon to the economy of North Dakota, which is
now the nation’s second-largest oil producer: as
of 2015, unemployment rates were the lowest in
the nation, plummeting to 3.1%.

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The Bakken Formation: Potential Realized through Innovation

  • 1. The Bakken Formation: Potential Realized through Innovation Joshua Wolcott
  • 2. Introduction • Joshua Neale Wolcott is director of operations with the Denver-based Cimarron Resources, Inc. With extensive project management experience in the financial and energy industries, Joshua “Josh” Wolcott is currently working with his firm to evaluate a shallow drilling project in the Bakken Formation. The Bakken Formation is a large oil play that lies underneath Montana and North Dakota in the United States, and Saskatchewan and Manitoba in Canada. One of the largest deposits of oil and natural gas in the United States, the US Geological Survey estimates that 3.65 billion barrels of recoverable crude oil exist in the play.
  • 3. Bakken Formation • Discovered back in 1951, it was only recently that the Bakken Formation has been seen as a viable source of oil. Due to advances in technology such as hydraulic fracturing and horizontal drilling, crude that was once untouchable can now be recovered through the relatively impermeable rock formations. This new availability has been a boon to the economy of North Dakota, which is now the nation’s second-largest oil producer: as of 2015, unemployment rates were the lowest in the nation, plummeting to 3.1%.