Occasionally there are some very, very interesting postings, but this posting may be one of the most incredible I have ever posted. CLR is suggesting it may be sitting on as much as 3.0 billion recoverable barrels of oil equivalent in the North Dakota and Montana Bakken.
In addition, CLR is suggesting that there may be as much as 24 billion boe recoverable in the Bakken. It is hard to tell from the slides alone (without the audio or Q&A) but the slides as shown suggest CLR is separating the Bakken formation from the Three Forks formation. If so, this presentation is even more incredible.
Investor Day: CLR Presentation (slide presentation)
Continental Resources Investors Day 2010: "Drilling Down in the Anadarko Woodford"
October 12, 2010
Skirvin Hilton, Oklahoma City, OK
Slide 12: (slide 12 of overview)
In addition to 130 million barrels of oil (boe) equivalent proved reserves at mid-2010:
- 2.3 billion boe in unbooked, unrisked reserve potential (= 7.5 x mid-2010 proved reserves)
- With 320-acre spacing in the Bakken, unbooked, unrisked reserve potential would total 3 billion boe
Slide 32 (slide one of the Bakken presentation)
CLR suggests there may be as much as 24 billion barrels of oil recoverable (=5 times 2008 USGS estimate) in the Bakken
More than 2,750 horizontal wells completed since January, 2000
Industry adding 1,800 wells/year
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.