Activity related to the Tyler Formation is spilling from North Dakota to South Dakota, amid industry speculation that the play could contain significant crude reserves. Many oil companies are investing significant sums into the section of the formation existing in South Dakota, hoping for a significant return, The Associated Press reports.
Ed Murphy, a geologist working for the state of North Dakota, said that that the Tyler Formation may hold as much as one-third of the estimated reserves of the Bakken formation, according to the media outlet.
The possibility of extracting resources from the play is perceived as a lucrative opportunity by some and as a threat to the current community by others, the media outlet reports. Utilizing the Bakken has provided North Dakota with the lowest unemployment rate in the country and a budget surplus close to 1 billion dollars.
Lynn Helms, Director of North Dakota's Department of Mineral Resources, recently predicted that his state will become the nation's second-largest oil producer, according to The Associated Press. Maybe South Dakota can tap into this same abundance since it shares the Tyler formation with its neighbor to the north.