FAQs 20 - 25

I have added six new questions and answers to my FAQs page.  Here they are:

20. How many active oil wells are there in North Dakota?

For me, this question is irrelevant, but I see it is often asked, so, without attributing the source, or confirming the accuracy, I will answer that my understanding is that there are in excess of 4,000 active wells in North Dakota. How many permits  are being granted on an annual basis in North Dakota (and how many wells were drilled from these permits)? In 2006: 422 (195); in 2007: 493 (336); in 2008: 916 (645);, and, in 2009 626 (168). Obviously the numbers inside the parentheses (wells drilled) will increase over time (as the wells are drilled). The number of permits for past years obviously can't change. Posted Feb 3, 2010.

21. How soon does a company stimulate a well after completion of drilling?

This varies. Buried deep in this site one learns that EOG spudded a well on January 19, 2009, but did not plan to fracture stimulate it until July, 2009. I assume that most wells are fractured within a month of when drilling is completed but I do not know. I will watch for more examples.

22. What is meant by a "top lease"?

I have no idea, but "Teegue's clarification" deep in that thread is enlightening.

23. Is there a "basic analysis of the current Bakken boom"?

Yup: right here. I couldn't find a date on this document but it looks current. I downloaded it February 13, 2010, and the document itself suggests that it was published in 2010.

24. What is the difference between "boepd" and "bopd"?

Barrels of oil equivalent per day (boepd) includes natural gas.  "Bopd" is only the oil.  Generally speaking, one can divide the number of cubic feet of natural gas by 6,001 to get the equivalent of oil. Note that there are different grades of oil: sweet oil is most expensive. North Dakota oil is sweet oil. Likewise, natural gas has different amounts of energy and much more difficult for me to understand. Natural gas quality is defined in British thermal units (BTU).

25. Can you talk about the confusion between the Bakken formation and the Three Forks Sanish formation as it relates to the "Bakken pool"? Definition of "Bakken pool": See this posting.