He says the Bakken has a layer of nearly impermeable shale that sits above the oil-bearing reservoirs.
Last year Chevron announced that test wells drilled 29, 000 feet deep into Buckskin found oil-bearing sands 300 feet thick.
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Geological forces lifted these oil-bearing rocks up toward the surface of the earth, within reach of water and bacteria.
Most of the oil-bearing countries are at best fragile democracies emerging from long periods of autocratic postcolonial single-party or military rule.
In July 2011 the company drilled an exploration well on the Fulla prospect, where reservoir sands were found to be oil-bearing.
Sea water is pumped into the oil-bearing rocks deep below the seabed.
Dana Petroleum Egypt has reported several significant exploration successes at North Zeit Bay during 2011, including encountering good quality oil-bearing sands and establishing two gas condensate field discoveries.
Operated by Anadarko with 30%, that well was another monster, going down more than 31, 000 feet in 5, 800 feet of water, and discovering a remarkable 1, 000 feet of oil-bearing rock with very promising reservoir properties.
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The market prices affect tax, royalties and profits, and have a huge bearing on oil companies' investment decisions.
"It's more psychological than operational as the price of oil has no direct bearing on the price of electricity, " said Michael Carboy of Signal Hill Group.
What if it is right there trapped in oil and natural gas-bearing shale, enough to possibly supply our U.S. needs for centuries?
Specially formulated lubricants are used in fracking, which involves pumping water, fine sand and fracking fluids underground to split open oil- and gas-bearing rocks.
Hydraulic fracturing, or fracking, pumps millions of gallons of water mixed with fine sand and chemicals deep into oil and gas wells to crack gas-bearing rock.
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