- "250 miles long, 50 miles wide, and worth maybe $80-billion dollars"
- "Way bigger than the Bakken in Montana and North Dakota"
- Exploration phase could take five to ten years
- Drilling and development phase could last twenty years
- Work-overs, re-fracs change things: one well, costing over $3 million to drill, was reported to be producing only 20 bbls per day; sold; under new owner, well is producing 650 bbls per day
- Leases going for $6,000 / acre in Colorado
- Leases going for $3,200 / acre in Wyoming
- Lack of infrastructure (pipeline takeaway capacity)
- Suggested portable "skid mounted" refineries
- Mentioned multi-well pads: 6 - 8 wells off one pad
- Long laterals (2 miles)
- Fracturing extends out about 200 feet laterally (this is very, very interesting. This blog was one of the first places to note that fracturing seemed to be very, very local. I first noted that fracturing appeared to reach laterally less than 400 feet. Since I first noted that, others are reporting the same.)
- The Niobrara formation lies about 6,000 feet below ground, well below the water aquifers, but not as deep as the Bakken in North Dakota which is about 8,000 to 9,000 feet down
- Wyoming was first state that required frackers to list their chemical formulas
- Noted that Halliburton posted its list of ingredients on line last week
Speaker: Robert Coskey, owner of Rose Exploration
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