State Expert: No Big Oil Boom for SD
The State Geologist says a major oil boom is unlikely in South Dakota.
Derrick Iles with the South Dakota Geological Survey says the Bakken Formation, which produces most of North Dakota's oil, doesn't extend very far into this state.
Iles says South Dakota just doesn’t have the same amount of oil as its neighbor to the north.
Although South Dakota’s Geology is similar in many respects to North Dakota’s Geology it’s dis similar enough that we will never be able to produce oil and gas at the level that North Dakota is presently enjoying,” says Iles.
Iles says last year South Dakota's produced 1.6 million barrels of oil. In contrast, last year North Dakota produced 152 million barrels of oil.
Iles says drillers have little incentive to leave the proven oil fields in North Dakota for the uncertainty of South Dakota.
You can find a link to the full report on South Dakota’s Oil and Gas Potential here.