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Published April 30, 2013, 02:23 PM

USGS doubles estimate for oil from Williston Basin to 7.4 billion barrels

The US Geological Survey says today there is more than twice as much oil in the Williston Basin as previously estimated.

The US Geological Survey says today there is more than twice as much oil in the Williston Basin as previously estimated.

The agency says there are approximately 7.4 billion barrels of technically recoverable oil in the basin. What's more, there could be as much as 11.4 billion barrels. The report also estimates nearly three times as much recoverable natural gas as was estimated in 2008.

Senator John Hoeven, who requested the updated estimates two years ago, calls the new information great news for North Dakota and the nation.

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