This report presents information on 77 waterflood projects in 31 Montana oilfields. The study shows the locations of the projects, the sources and amounts of injection water, and the results in oil produced. Waterflooding, a secondary recovery technique, began in Montana about 40 years after the initial oil discovery in 1920. Often, the difference between water disposal by injection and pressure maintenance operations is not clear. Water injected at the projects in 1973 was 157.7 million barrels. In 1973, the 31 fields having waterflood projects produced 28.3 million barrels of oil valued at $88.4 million. Both in volume and value, this represents over 80 percent of the state's 1973 oil output. The projects are making possible the recovery of additional oil, thus contributing to the conservation of oil and lessening the impact of the current oil shortage.