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Accumulate AMZG under $1.50 TRIPLE YOUR MONEY IN WEEKS Target: $3.50 |
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READ THIS REPORT and you'll understand why folks in Montana are naming their children and pets after him. By James Rapholz Editor, Economic Advice |
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Oil was cheaper than dirt in 1953 when a Montana farmer by the name of Henry Bakken (rhymes with "talking") told a geologist who wanted to drill for oil on his farm...
"Sure, be my guest"
Turns out old Henry was sitting on an ocean of oil. After more extensive research, this ocean came to be know as "The Bakken Formation," which covers part of Montana, North Dakota and Canada. According to recent estimates by the U.S. government, "The Bakken" is home to a staggering 503 billion barrels of light crude. To give you a clear idea of how significant this is, let me put 503 billion barrels in perspective.
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| THERE'S OIL IN THOSE ROCK HOLES | ||
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Crazy? Now we know Findley was right, of course.
But back in the 1990s, the big question was how to get the crude out of this middle layer, estimated to be 12 miles long and 50 miles wide... but only a few feet thick. Findley drilled 10 vertical wells and he found the process was indeed releasing oil. But the traditional drilling technique was not producing enough oil to justify new drilling, not at 1997 oil prices of $8.50 a barrel.
Big oil gave up.
BUT FINDLEY NEVER GAVE UP, and you now know he figured out a solution. His secret? He became the first to use horizontal drilling and fracing in "The Bakken." Today, those oil-filled pores are flowing to the tune of 48,000 barrels of crude every single day. The Wall Street Journal reports Findley's efforts created "the largest on-shore oil discovery in the continental United States since 1954." |
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Findley makes ordinary folks millionaires
Findley's discoveries and his "scientific creativity" have already made millionaires out of ordinary Montanans, already swollen state coffers, and already ushered in a new way of prospecting for oil worldwide. |
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"You better sit down... we found a GIANT oil field" |
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As Findley recalls, "When I saw that this was continuous for 50 miles, I called my partner and said, "I think you'd better sit down. I think we found a giant oil field.'"
And his discovery is still rocking Montana. Back in 2000, about 15.7 million barrels of oil were pumped out of Montana. Five years later, production reached 32.8 million. The ignition that sparked the dramatic rise? Adminstrator of the State Board of Oil and Gas, Tom Richmond, gives full credit to Richard Findley and his discovery. In Richland County, home to Findley's discovery (Elm Coulee) residents with oil royalties suddenly became millionaires. The entire state of Montana got rich! Taxes on oil in 1995 generated about $13 million for Montana. Last year, the state took in $92.7 million. No wonder folks in Montana are naming their babies and pets after our hero. |
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More you should know about RICHARD FINDLEY |
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Findley's award-winning career in oil and gas exploration spans over 35 years. He's a graduate of Texas A&M University with both Bachelor and Master of Science degrees and was anything but an average student. His strong academic achievements - including a Tenneco fellowship grant and award winning Geological papers - became the basis for a distinguished career in geological exploration for the oil and gas industry.
Initially working with Tenneco Oil Company, Denver, and Patrick Petroleum in the mid to late 1970s, Richard formed Prospector Oil inc. in 1983 to work in the Williston Basin and Northern Rockies region. Amongst other oil company board positions, he has served as Chairman of the Board for Ryland Oil, engaged in Bakken exploitation in Saskatchewan and North Dakota. RICHARD IS CREDITED AS DISCOVERING the Elm Coulee Field in the Bakken Formation in Montana, opening both the Bakken Play in the US and the Canadian Williston Basin and locating an estimated three to 4.3 billion barrels of recoverable oil for the United States market.A highly respected figure in the international oil and gas industry, Richard has been featured in the Wall Street Journal, Canadian National Post and other international papers in the Netherlands and Italy, as well as being the subject of articles in oil and gas trade journals including the American Oil and Gas Reporter, Petroleum Intelligence Weekly and AAPG Explorer magazine. |
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