About the Bakken
The Bakken Oil Formation, much of which extends into Southeastern Saskatchewan from
Montana and North Dakota, is being described by many as the largest conventional oil discovery
in Canada since 1957.
The formation yields 41 degree light sweet crude.
Not only is this oil high quality, but plentiful too,
with estimates between 25 billion and 400 billion barrels of oil in place. It has been estimated
that the Canadian side of the play holds up to 1.3
billion barrels of technically recoverable oil.
Oil production in the Saskatchewan Bakken has
increased drastically from 200 bbls/d in 2004, to
a current rate of over 56,000 bbls/d and climbing. Since production began in 2002, Saskatchewan's Bakken play has produced about four
million barrels of oil.
With high light oil prices, new technology, continual discoveries, and a supportive government,
the Saskatchewan Bakken continues to provide
those who invest in it with consistently high net-backs. With all of this opportunity, major industry players are scrambling to gain a foothold in
the Bakken as are a number of juniors who see
the inherent potential here; Petrostar Petroleum
Corp. intends to be a star among them.
Estimates from Saskatchewan Ministry of Energy & Resources
