Stanley, North Dakota

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Stanley is a city in Mountrail County, North Dakota in the United States. It is the county seat of Mountrail County.[3] The population was 1,279 at the 2000 census.

Contents

History

Stanley was founded in 1902.[citation needed]

Geography

Stanley is located at 48°18′53″N 102°23′18″W / 48.31472°N 102.38833°W / 48.31472; -102.38833 (48.314716, -102.388410).[4]

According to the United States Census Bureau, the city has a total area of 1.7 square miles (4.5 km²), of which, 1.7 square miles (4.5 km²) of it is land and 0.57% is water.

Economy

Oil

Stanley is situated on the Bakken Formation, which encompasses (northwestern North Dakota, northeastern Montana, and southern Saskatchewan, Canada). The formation is a rich source of oil, first discovered in the 1950s. Until the late 2000s the cost of oil extraction was too high to retrieve the oil profitably. With new technologies in oilfield production and the rising price of oil, the field has now become economically viable. The field may be the largest producing onshore field in the Continental United States outside of Texas and California, with the U.S. Geological Survey estimating that it contains between 3 billion and 4,300,000,000 barrels (680,000,000 m3) of oil, sixth overall in the lower 48, and could hold as much as 200 billion barrels (32×10^9 m3) of oil.[5]

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