Attorney General Fox Issues Statement on New USGS Assessment for the Bakken and Three Forks Formations
Today, the United States Geological Survey (USGS) announced a new oil and gas assessment for the Bakken and Three Forks Formations.
Attorney General Tim Fox, one of the five members of the State Land Board, issued the following statement regarding the United States Geological Survey’s (USGS) updated oil and gas resource assessment for the Bakken and Three Forks Formations showing a twofold increase over what has previously been thought (now estimated 7.4 billion barrels):
“This is great news for Montana and surrounding states because it means more good-paying jobs, more revenue for state and local governments to fund schools and infrastructure, and increased energy independence for America,” said Fox. “In order to make this development possible in the future, the Obama administration must stop its efforts to overregulate hydraulic fracturing and must open up more federal lands for exploration.”
Link to USGS announcement: