Wow, have I been getting depressing comments from folks after the Chesapeake announcement!
There really isn't any reason to post this note, but I decided to post it to try to cheer folks back up about the Bakken. I don't think the Bakken is going to go away any time soon.
But this should cheer you up.
Look at slide 12 (of 26 slides) of the most recent Abraxas presentation: 32 long laterals in 5,120 acres (four adjoining 1280-acre spacing units). Thirty-two long laterals, each with a EUR of 500K boe. On top of that, these wells are in or near the bull's eye of the Bakken, and I think the 500K boe is very, very conservative. The Bakken laterals probably have EURs closer to a million and the TF laterals perhaps 500K boe.
Regardless of the EURs, that's 32 wells in an area where two years ago most were thinking maybe four wells at most. And we're still only five years into twenty years or so of drilling in the Bakken. The basic analysis of the Bakken suggested that active drilling would continue until 2030 and production would continue through 2100. Whiting says they have ten years of drilling inventory, as just one example, based on conservative spacing and de-risked locations.
