A couple of thoughts to add:
- My interpretation is that the 700 ip calculation is based on the total output of the well, not the working interest. Does not seem unreasonable given results so far.
- The type curve used is the normal / accepted Bakken decline rate which recent wells have been bettering (as per the charts in some of the recent announcements / preso's). Continental have concentrated on optimal EUR's rather than flashy 24 hour IP rates.
- Forecast has always been based on current projects only. Looking forward to mid 2016 there is plenty of room for everything from monstrous additional projects to a complete halt of drilling given the current volatility. It's just a snapshot of expectations as at today, based on current conditions, we all agree it should be taken with a grain of salt I think?
That current production will decline and need to be replaced by new should be as obvious as the need to breathe in order to continue living, I do not dispute the point, just having a tinker round the edges. Meanwhile lets see if we can better the estimates for the next few months!
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