Some folks are starting to think that the Bakken is starting to mature in the sense that companies have maxed out their metal on site, and are now simply doing the spade work (and there's a lot of spade work to be done -- at least a decade).
But then, every so often, we get another story that yet another operator will add more metal. In this case, Hess says they will add a tenth rig to the North Dakota Bakken play.
Hess also noted that it costs them about $11 for each dual lateral well with a EUR of about 1 million barrels per dual lateral ($50 million at the wellhead at $50/barrel).
A spokesman for Hess said that the 30-day average IP rates are around the order of 400 to 500 b/d per lateral from 18-stage fracs,
By the way, in the story I referenced earlier today from the Bismarck Tribune, Hess said the company has invested more than $1 billion in the Bakken and intends to invest another $1 billion annually over the next five years.
Hess has invested over 1 billion in the Bakken and plans to spend 1 billion a year for the next 5 years.
ReplyDeleteHess342
Thank you. I corrected that above. I appreciate you catching that. The bigger story is so much money is being invested in the Bakken, it is hard for me to keep it all straight. I mean, these are huge numbers, and in the big scheme of things, it's only in a few counties in North Dakota.
ReplyDeleteQuite a story.
I also commented on that error at this post:
http://milliondollarway.blogspot.com/2010/11/whos-on-first.html