ameliustag, the estimates for the bakken formation are oil generation, not recoverable and recent reports (april 2008) on the bakken indicate a recoverable resource of some c.4.0 billion barrells. The bakken does not provide, as such, in excess of 100 BBls oil!
In size the Bakken = 520,000 km2, 13x the size of the HVS which is 40,000 km2
Im not sure how much of the bakken is actually in the oil window however, 7,000km2 of the HVS is in the oil window (calculated to 10 BBls), and 10,000km2 is in the gas window (calculated to 12, 67 or 90 TCF gas).
The HVS is definitely an exciting play however I think it will be a while before CTP start to test it due to the unconventional methods required. They have much easier targets to chase right now. Id assume once the coy purchase their own rig and also have a few targets online/in production and hence well protected - then the HVS may come into play. Will be interesting at the least.
CTP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
