Updates
Comment: As noted in a subsequent post, the quote "more than 100 wells have been drilled into the Tyler producing more than 200 million barrels of oil" is obviously incorrect. The correct figure is closer to 20 million barrels of oil, giving a EUR of 200,000/well.
Comment: "Infrequently used drilling method." -- does the reporter mean that vertical wells are infrequent in North Dakota in the current boom; or that horizontal wells are infrequently used prior to current boom; or what is the reporter trying to say? That's a rhetorical question; I don't expect an answer. Bottom line: I think we will see vertical stratigraphic wells first, and then horizontal wells.
Comment: I was told that the geology of the area is more complicated than the Bakken in that is the Tyler reservoir could be meandering. That is, they could strike oil in one location, but half-a-mile away, no oil, but then they would strike oil another half-a-mile away. With vertical wells, one could completely miss a reservoir; with a two mile lateral, only one mile of the lateral might actually go through the reservoir, if I understand the geology as sent to me.
Original Post
Wow, wow, wow.
Leasing begins on the Tyler formation.
Here we go.
*****
Tyler formation:
- Shallower than the Bakken.
- "Tight" formation, requiring similar drilling technology as used in the Bakken.
- Source rock and reservoir rock may be the same.
- Source rock is separate from the Bakken source rock (this is huge).
- The Tyler formation reserves may be half the size of the Bakken.
- Harold Hamm suggested the Bakken could hold as much as 10 billion recoverable barrels; does that mean the Tyler could hold upwards of 3 to 5 billion (just a rhetorical question; don't answer)
- Spokesman says more than 100 wells have been drilled into the Tyler producing more than 200 million barrels of oil: that's a EUR of 2 million barrels
[Lynn] Helms [NDIC/Director] said no horizontal wells have been drilled in the Tyler, only vertical, an infrequently used drilling method.