Monday, June 12, 2017

I Wish I Had Said That! Hey, I Did! -- Re-Fracks In The Bakken -- June 12, 2017

From The Bismarck Tribune, nothing new for regular readers of the blog: new technology could recover more oil from early Bakken wells. Data points:
  • re-fracks
  • targeting wells drilled between 2008 and 2010
  • industry says currently recovery 5 to 15% of OOIP
  • 140 wells in the Bakken have already been re-fracked
  • generally, to be economical, re-fracking needs to produce an additional 200K to 250K of crude oil
  • not all areas amenable to re-fracking
  • about 2,500 wells drilled per year back in 2008 - 2010
  • economical at what price? $25/bbl? $50/bbl? $100/bbl?  
  • when we first started blogging, the "word on the street" was that Bakken operators were recovering 1 - 3%; then Whiting made headlines when they suggested as much as 8%, and said they were targeting a much higher rate of recover
  • I've never seen a figure as high as a 15% recovery rate in the Bakken
  • Lynn Helms has said, in the past, what each 1% increase in recovery means in the Bakken
  • if primary recovery rate goes from 3% to 6% -- that is a doubling of production

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