I’ve noticed a fun trend. In discussions of undeveloped oil fields where fracking could open up huge production the potential size of the field is compared to Bakken. Thus, a new unit of measure – how many Bakkens are in the new field.
Monterey Shale field could be 4 times Bakken – California has two-thirds of the shale oil reserves in the U.S.
Cline Shale might have 30B barrels, which would surpass Bakken at estimate of 4.3B – Cline Shale – another name you want to learn – “The shale rush has just begun”
A new field in Australia that I haven’t yet commented on is a huge find. The estimates range from 3.5B to 233B. Via Meadia notes in Aussies Strike Black Gold that
It’s not clear yet how much oil is recoverable, but even at the low end the field would include as much shale oil as America’s Bakken formation…