Midwest state set to become ‘liquid gold’ capital of the world after billions more gallons of oil discovered.
North Dakota could help America become a dominant player in the oil industry after experts found a significant amount of undeveloped oil resources yet to be extracted.
Geologists determined the middle Three Forks reservoir in McKenzie County has another 10.5 billion gallons of oil worth $18.6 billion just 50 feet lower than where drilling is currently operating.
The reservoir is part of the Bakken Petroleum System, located in Montana and North Dakota, which has the largest oil deposits in the US, churning out 474.5 million barrels per year.
North Dakota’s portion of the oil system produces 1.2 million barrels per day, but the state’s governor Kelly Armstrong said ‘are still leaving over 80 percent of oil in the ground.’