to be honest i was including wells drilled only for a 1P reserve grade, how they then calculate 2P reserves if a few of those wells are on 640 acre spacings i have not the slighest idea.
if 3 consecutive wells,each over 640 acre spacing come up with identical shale thickness and flow rates, is it safe to say that all reserves in between are 2P, ie proved + probable reserves or 50% chance of success, if this is the case then there would be an additional 12 wells of 2P reserves within just the 3 640 acre lots?
another way of putting it is for every 640 acre spaced wells, is this possibly going to equal 8 wells of 2P reserves?? it appears we only need to drop the drill in and we hit our target and at ridiculously shallow levels.
any oil and gas gurus out there who could assist here?? are 640 acre spacings too far apart for everything inbetween to be 2P reserves or will some of this spacing fall into 3P reserves
RFE Price at posting:
48.5¢ Sentiment: LT Buy Disclosure: Held
