Associated Press -- "Despite widespread hope that North Dakota's oil rush will spread
across the border, some say it's doubtful South Dakota will experience
much of it.
South Dakota state geologist Derric Iles says drillers are virtually assured of a profitable well in North
Dakota. He says they have little time to bother with unknown prospects
across the border.
Iles believes South Dakota is underexplored and
may hold untapped reserves that could be exploited using know-how
gained from North Dakota's Bakken formation. The formation is not
present in South Dakota.
State and industry officials say dry
holes are a rarity for drillers in the Bakken. Ninety-nine percent of
the rigs hit oil, and nine out of 10 wells make money."