Curious Novice

I am recently retired and (with time on my hands) have become interested in my wife's partial interest in the following:

Lat 46.836829, Long -102.89708, TSP 139 North, Range 97 West, Sec 22: SE (Lodgepole Formation Only), 160 Acres +/-, Stark Co., ND

Being completely new to this subject, I have several questions:

What does "Lodgepole Formation Only" mean?

Is 160 acres +/- a lot or a little bit?

How can one determine if there is actually any oil there?

Why do oil companies lease mineral rights and then never seem to want to drill a well?

Thanks for any response.

Curious Novice