A reader sent me the NDIC production history for this well, which I have on my "monster well" page.
This well began production in October, 2006. Now, exactly four years later (October 2010), the cumulative oil production for this well is 1,064,957 barrels. At $50/bbl, that's $50 million at the well head.
The well has shown minimal decline rate and is currently down to 13,000 bbls/month. At $75/bbl, that's $12 million/year. The well has been paid for. If it's on a pump (and I don't know that it is), it costs a few pennies a day to run the pump, and if there's a pipeline to the well now, there's minimal trucking costs. But even if the oil is still trucked out, it's a heck of a well.
And that's why oilmen keep drilling: hoping for the big one.
The nice thing about the Bakken / Three Fork Sanish: there is seldom a dry hole, so even the less productive wells eventually pay for themselves and provide cash flow in the meantime. Can you imagine what it would be like if three out of ten wells were dry?
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