BEXP: Conference Presentation

This is the presentation made by BEXP at Enercom conference in Denver last week. The amount of information is incredible; I don't know where to begin. Maybe I'll have time Monday to sort through all this.

However, note that BEXP is suggesting takeaway capacity for oil in North Dakota could be as much as 800,000 barrels/day in 2014 (slide 37, appendix). [Current, reasoned, general expectations are that daily production, currently around 300,000 bopd will level off at 400,000 bopd. June production hit an all-time high of 315,278 bopd. In May, production averaged 298,000 bopd. The increase in June represents a 5.7 percent increase -- in just one month.]

Look at the thickness of the Upper Three Forks Sanish compared to the Middle Bakken, slide 39, appendix).

BEXP estimates as many as 555 wells over 13 years in proven areas with an average NPV of $9.4 million/well (almost $5 billion), slide 34. Regardless of the value of these wells, this is just one company in the Bakken estimating almost 600 wells and drilling for 13 years. This explains all the activity in Williston, suggesting companies plan to be there for a very long time.