tag:blogger.com,1999:blog-1149283829854298377.post809371116104079913..comments2024-03-28T15:12:38.709-05:00Comments on The Million Dollar Way (The Bakken Oil Blog): CORRECTION. Not a Record: Eight Wells on Two Pads -- But Very, Very Close TogetherBruce Oksolhttp://www.blogger.com/profile/10952652803684625738noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1149283829854298377.post-61389348778983569642011-05-07T15:20:00.356-05:002011-05-07T15:20:00.356-05:00I'm waiting for the satellite photos.
Again, ...I'm waiting for the satellite photos.<br /><br />Again, my hunch is that the fracking trucks and crews will be placed between the two sets of wells.Bruce Oksolhttps://www.blogger.com/profile/10952652803684625738noreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-67307827114420885412011-05-07T12:41:11.416-05:002011-05-07T12:41:11.416-05:00Believe what you want about the two well pad, but ...Believe what you want about the two well pad, but it's wrong. This is no different that what CLR does, except there is more distance between each of the four wells on each pad here. Nobody is walking a rig 1,580 ft., or leveling a site that would be almost 3/4 mile wide.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-67776940104046286682011-05-07T07:37:31.116-05:002011-05-07T07:37:31.116-05:00With regard to "two separate pads," I wi...With regard to "two separate pads," I will wait for the overhead satellite photo. Smile.<br /><br />The center line of a section is 2,640 feet from either the west line or the east line. My calculations show the easternmost well in the NENW quadrant is 790 feet from the mid-point of the section; likewise for the westernmost well in the NWNE quadrant. <br /><br />The drillers needs space for fracking -- scores of trucks will be on site when the fracking is accomplished. Something tells me they will place support services in the 1,580 feet between each group of four wells. <br /><br />I don't know your background: if you are the spokesperson for ERF, you obviously have more information than I do. But from an amateur's point of view (mine), once all activity in the area is in place, to the casual observer it's going to look like one huge pad. Hopefully "google maps" will orient their satellites over this are for a great photo. <br /><br />If not technically one pad, for all intents and purposes (functionally) it will be one pad. <br /><br />If they "walk" the rig for four wells and then have to bring down the rig and move it to the next four wells and set it back up, then functionally it will be two pads, albeit for all other purposes (especially fracking), it will be one pad. It will be interesting if they simulfrac eight wells or four. My hunch is they will simulfrac four at a time.Bruce Oksolhttps://www.blogger.com/profile/10952652803684625738noreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-84271966839575328192011-05-07T07:16:57.646-05:002011-05-07T07:16:57.646-05:00To Bri-VA:
I don't know if your "190 mil...To Bri-VA:<br /><br />I don't know if your "190 million" is barrels or dollars but the point is correct. Some months ago I calculated the amount of oil that could be recovered and posted it; of course, I can't find that post now, but the numbers were in the same ballpark. <br /><br />In the core Bakken, four wells per section; EUR of 500,000 is 2 million bbls. $100/bbl is $200 million. The EUR is over 30 years; the $100 is in today's dollar value; there are positive tax consequences (depletion allowances, etc); improving technology over the next 30 years; additional payzones in many areas.Bruce Oksolhttps://www.blogger.com/profile/10952652803684625738noreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-41544441402996868432011-05-07T02:33:13.234-05:002011-05-07T02:33:13.234-05:00The alaska article on the twitter on the bakken bl...The alaska article on the twitter on the bakken blog states that their determination of recoverable % of shale resources with present technology is 4 to 6 % or a doubling plus of what was thought in the past. One square mile of bakken, it varies of course, has 20 to 40 million barrels in situ. That means a 1280 spacing is conservatively Worth 192 million gross - royalty, lease, wells, taxes, geology, lights etc. pretty good.<br /><br />BrianBakken Ownerhttps://www.blogger.com/profile/09529106861001326125noreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-80077282131258276972011-05-07T01:00:44.731-05:002011-05-07T01:00:44.731-05:00There are two pads involved, one in the NE and one...There are two pads involved, one in the NE and one in the NW quarter of sec. 11.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-62539951654289501392011-05-06T23:02:19.012-05:002011-05-06T23:02:19.012-05:00It is incredible, isn't it?
We keep seeing ne...It is incredible, isn't it?<br /><br />We keep seeing new advances in the Bakken, most of which will be taken to other areas around the US and the world. <br /><br />It is very, very exciting. <br /><br />I've labeled these as "Follow-Up" to remind to check in on them six months from now.Bruce Oksolhttps://www.blogger.com/profile/10952652803684625738noreply@blogger.comtag:blogger.com,1999:blog-1149283829854298377.post-46303927336618363952011-05-06T22:44:20.498-05:002011-05-06T22:44:20.498-05:00cha-ching!
Briancha-ching!<br /><br />BrianBakken Ownerhttps://www.blogger.com/profile/09529106861001326125noreply@blogger.com