Bismarck, N.D. (AP) North Dakota's mineral resources director says a report that as much as 4.3 billion barrels of oil could be recovered from the Bakken shale formation in North Dakota and eastern Montana is drawing worldwide interest.

Lynn Helms says the oil industry is interested and so are banks, possibly as a place to invest venture capital.

The U.S. Geological Survey issued the report on the U-S side of the Bakken, which also reaches into Canada.

North Dakota's oil production since 1951, when oil was first reported in the state, has totaled 1.6 billion barrels. Last year's total was 45 million barrels, with only 16 percent of it from the Bakken formation.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 04-13-08 1617CDT | save this article / add to your favorites list