It depends on one's perspective.
The Chandler James: a monster well after one year of production. Posted October 31, 2009
A tip of the hat to Larry at the Teegue Discussion Boards [all "Teegue" links are broken] for passing this one along.
This is the Chandler James well ["Teegue" link broken] right on the border of the Sanish/Parshall oil fields (permit 17263, operated by Murex).
This well was spudded almost exactly one year ago. It had an initial production of slightly more than 3,000 barrels the first day. It has gone on to produce in excess of 381,000 barrels of oil in this past year. After the initial production, there has been no decline in the monthly production of oil. In the first month of operation, it produced 34,862 barrels of oil; in the most recent reporting period, one year later, it produced 38,325 barrels of oil.
The price of oil has averaged well above $50 this past year, but at $50 a barrel, this well has generated over $19 million so far.
Is the Bakken over-hyped? It depends on your perspective. (Another blogger, Fabius Maximus, who I think is no longer active, argued that the Bakken was over-hyped.)
Incidentally, a well with permit number 18200 is right next to the Chandler James well is on the confidential list. It's a Fidelity (MDU) well, Kinnoin 24-13H (misspelled on the daily activity report as Kinnion. Last time I checked -- Feb 2, 2010 -- it appears this well is not yet drilled -- it does not have a release date on the confidential list and it is not on the active well list).
And people think I'm inappropriately exuberant!