average flows

Old news but might help to value imp per well.

Last paragraph:-

A Tale of Two Basins
The Antrim Shale in the Michigan Basin spurred the current gas shale interest in the United States.

Initially the Section 29 tax credit spurred activity in the Antrim Shale, but new technology, an understanding of the mechanisms controlling production and operational efficiency gains by operators have sustained activity in the play.

The Devonian-age Antrim Shale reaches a depth of about 3,000 feet in the center of the basin. Operators, however, are developing the shale along the shallow northern and western rim of the basin, where well depths range from 400 to 2,500 feet and wells cost about $240,000 to $280,000 to drill and complete.

The primary targets are the Lachine and Paxton members of the Lower Antrim.

Resources estimates range from 35 trillion to 76 trillion cubic feet of gas, with technically recoverable gas reserves estimated at 11 to 18.9 trillion cubic feet. The average well in the Antrim Shale produces around 116 thousand cubic feet of gas a day, and production has grown from 12 billion cubic feet from 154 wells in 1988 to over 190 billion cubic feet of gas from 6,500 wells in 1999.

15 wells to date say average annual price of US$8.5 per 1000cuftpd/ x 116=us$968.00 x 365 =us$353.320 per well pa x 15 wells = us$5.299.800 pa so far.

Might help. We have above average wells.


If I find out more info I'll pass it on.

Cheers


http://www.aapg.org/explorer/2001/03mar/gas_shales.cfm