Environmentalists might not like it but new hydraulic fracturing techniques are being applied in the Bakken in North Dakota, a move that could result in even more oil being recovered, thus affecting the worldwide prices.
A report in the Bismarck Tribune indicates that wells drilled between 2008 and 2010 are targeted for refracking because those were the years before the technology advanced to its present-day techniques and methods.
The paper quoted Justin Kringstad, director of the North Dakota Pipeline Authority as indicating the refracking is getting promising results. An estimated 140 wells in the Bakken have already been refracked and most saw an increase in production.
The movement even has the interest of the North Dakota legislature which has an interim study underway. Legislators realize the refracking movement could mean more tax revenue and more jobs.