Williston Basin gauges recoverable oil

Oil Pump Jack, Photo Date: August 13, 2008 / Cropped Photo: Paul Lowry / CC BY 2.0 / (MGN)
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WILLISTON, N.D. - It's not like the Williston Basin has a gauge telling us how much recoverable oil is in the ground.

But, there's a new assessment underway in which the industry says it hopes will show an increase in the detectable supply.

The study could produce a drastic difference in oil field investment.

It's based on new technology and how much oil that companies might be able to get out of the ground.

The last time an assessment was done was 2013. The technological advancement in the industry since then leads some to believe we'll see an increase.

"Let's work together, let's make sure we get it right, let's make sure it's well done. Let's make sure we use current technology, and let's make sure we evaluate the full resource," said Sen. John Hoeven, R-N.D.

The last survey estimated that seven point four billion barrels of oil were in the Bakken and Three Forks formations.