Surge Energy Presentations, December, 2012, go to slide 12. These are Spearfish wells on the Canadian side of the Williston Basin (yes, part of the Williston Basin), the Waskada (Spearfish):
- these wells cost about $1.3 million (target capital costs/well)
- net present value (NPV) of these wells: $2.1 million
- they payback that $2 million in about 18 months (less than 2 years)
- rate of return: >55%
Apple Computer tries to achieve a 45% margin. Just saying.
Compare Surge/Corinthian wells to legacy wells, in ND.
ReplyDeleteBoth companies claim they do a great job. Results of one seem far superior.
Legacy drills one mile laterals, Surge half mile.
Surge wells are new. Some Legacy are older.
I don't count EOG and other wells bought by Surge.
I think all Legacy wells are theirs.
They overlap. Some nonop interests in each others wells.
New stats are out.
Anon 1
MHR claims their B/3F wells on both sides of the US border compare favorably with big Bakken wells. Smaller and cheaper. Sometimes that is better.
ReplyDeleteAnon 1