Elk Basin is a valley on the border of Montana and Wyoming in the United States. It is an active oil field with hundreds of derricks operating in it. Geologically, it is a breached anticline formed by a deep subsurface thrust fault. Most of the rocks at the surface are Cretaceous in age, including the Lance Formation, Meeteetse Formation, Mesaverde Formation, Cody Shale, and Frontier Formation.[1]