- On a per-well basis, Bakken wells continue to see improved production from 2014 through 2016
- The Bakken play has seen production decreases due to low oil prices, but when the number of completions are considered, production has held up quite well
- The Bakken does have headwinds when compared to other U.S. plays, but differential improvements are expected once the DAPL is completed
From the post:
In 2015, the number decreased to 1541. It does show an improvement in production per well. Operators started to target gassier geology, as they found it drove more resource up and out of the well bore. More importantly, well design continues to adapt. These wells produced 13K more barrels of oil and 38K Mcf of natural gas.Nothing about re-entry, re-fracks.
In 2016, wells improved by another 8K BO and 22K Mcf.
The improved production continues. Some believe well results are declining because all the best areas (they believe) are drilled out. This doesn't seem to be the case as improvements to design continue to outperform as well costs decrease.
Trilobite! Eyewitness to Evolution
DDS: 565.39 FOR
The author is a senior paleontologist at the Natural History Museum in London. He is the author of several natural history books, some of which have won major prizes or been on short lists for major awards.
This is a fun book to read. He uses the subject of trilobites to discuss many other topics. It's a great book for summer reading.