The "Halo Effect

YEP.....

• the Bakken is the largest continuous reservoir of oil ever found in the US; light, sweet oil

• after the 2013 USGS Survey, officials double the size of the Bakken/Three Forks: 7.3 billion bbls recoverable; could be as much as 11 billion bbls recoverable one trillion bbls of original oil in place (OOIP) -- other estimates

• 8 wells/1280-ace spacing unit: 24 billion bbls recoverable oil

• 16 wells/1280-acre spacing unit: 50 billion bbls recoverable oil

• EURs: 400,000 to 1,000,000 bbls

• 10,000 feet deep; 10,000-foot laterals; total "depth": 20,000 feet; 30-stage fractures; 3 million lbs proppants; sand and/or ceramics; EOG is doing huge fracks: 60 stages; 10 million lbs sand only

• $10 million/well historically; costs coming down; maybe $8.5 million/well in 2013

• 100,000 bbls in 6 months to 3 years; will produce for 25 to 39 years

• 2,000 permits/year; drilling/completing about 2,000 wells/year; on track for 2,500 permits in 2013

• 2,000 wells/year x $10 million/well; $20,000 million/year drilling = $20 billion/year drilling

• 7,000 active wells in North Dakota; 980,000 bopd; 100 bopd/well (California with about 60,000 active wells); North Dakota #2 in US production, behind Texas

• 185 active rigs (range 180 - 195)

• high density spacing; Oasis will drill 21 wells in one 640-acre section; 42 wells/1280-acre spacing in better Bakken

• Middle Bakken; four benches in the Three Forks; the Three Forks will increase the OOIP estimates by about 60% (compared to the Middle Bakken only); the Three Forks through the Bakken, but seems to extend beyond the periphery of the middle Bakken prospect;Whiting tends to refer to the upper Three Forks in its northern ops area as the Sanish; Whiting tends to refer to the upper Three Forks in its southern ops area as the Pronghorn Sand

• fracking a new well improves production of a neighboring, existing well ("halo effect")

http://themilliondollarway.blogspot.com.au/p/faq.html