Mapping Geological Resources for Oil Extraction in North Dakota
GrantID: 11480
Grant Funding Amount Low: $17,200,000
Deadline: Ongoing
Grant Amount High: $17,200,000
Summary
Grant Overview
Mapping Oil Reservoirs to Optimize Resource Extraction in North Dakota
Understanding Resource Management Barriers in North Dakota
North Dakota has one of the largest oil reserves in the United States, primarily located in the Bakken Formation. However, the state's oil industry faces significant challenges due to complex geological conditions. High variability in subsurface geology can lead to inefficient extraction practices, potentially impacting economic returns for energy companies. According to the North Dakota Department of Mineral Resources, optimal extraction rates can only be achieved through thorough geological mapping and analysis of these reservoirs.
Who is Impacted by These Geological Challenges?
Energy companies operating in North Dakota's oil fields face the primary barriers highlighted by these geological complexities. With the state being a leading oil producer, companies rely on accurate geological data to guide drilling decisions and manage resources effectively. Additionally, regional economic implications are profound; successful extraction practices contribute significantly to North Dakota's economy, impacting workforce stability and tax revenues for local communities.
How the Grant Addresses Resource Management Issues
The funding provided by this grant seeks to support geological surveys and mapping initiatives specifically targeting oil reservoirs. By improving the understanding of subsurface conditions, energy companies can optimize drilling and extraction processes, resulting in reduced costs and minimized environmental impacts. This research is crucial for ensuring that North Dakota’s oil resources are managed sustainably and efficiently.
Implementing Findings for Industry Advancement
The insights gained from these geological studies will inform best practices for drilling, potentially transforming how energy companies operate in North Dakota. By leveraging geological data, companies can enhance their operational efficiencies, ultimately leading to increased production rates while mitigating drilling-related environmental impacts. As the state continues to navigate its role in the national energy landscape, the initiative will fortify North Dakota’s leadership in responsible resource management.
Eligible Regions
Interests
Eligible Requirements
