ND's Booming Oil Patch Swelling South
by Associated Press
October 19, 2011 9:47 PM
North Dakota's booming oil patch is sweeping south as speculators explore a reservoir similar to one that has flooded that state with money and jobs.
And that could mean South Dakota soon gets a piece of the oil action.
A flurry of recent leasing activity in South Dakota is tied to hopes for the Tyler Formation, which spans parts of both states. A North Dakota state geologist says it might hold up to one-third the volume of oil estimated in the prolific Bakken shale formation.
The prospect has spurred excitement, and worry, in both states. While the Bakken boom has helped North Dakota economically, it's also brought more traffic and high housing costs. Some South Dakota officials say they hope to be prepared.