Article on Bakken Oil Plays --------------------------------------- "The Bakken oil play, located in the Dakotas and Saskatchewan, is a great example of how technology is constantly improving economics. Three years ago, expected recoveries were 10%. But as companies are learning how to better frac these wells (sending fluids down at very high pressure to break up the rock that holds the oil), recovery factors (RF) have gone up (so far) to 22.5%.
Independent consultants gave each Bakken well a proven reserve of 50,000 barrels in 2007. Now that’s up to 100,000 barrels, and likely to go higher. The play is only three years old.
Initial Production (IP) rates have increased, as fracing techniques have evolved. The number of fracs a company does in a formation from one drill pad has increased, in several stages, from five to 40."
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MPO Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
