I have previously opined that Whiting, along with Continental Resources, has some of the best corporate presentations.
Anyone interested in the Bakken, but especially newbies, should look at these presentations. I find the Q&A at the end of the Whiting particularly interesting. Here is a sampling:
1. How much oil is in the Sanish oil field? Whiting estimates 8 - 11 million barrels per section in the Sanish. Whiting expects to recover about 8 percent of this oil, or about 600,000 to 900,000 barrels per section. That's in line with earlier estimates by CLR, but I think CLR has been increasing their estimates of oil in place, and perhaps percent of recoverable oil.
2. This does not include the Three Forks formation. Whiting estimates another 4 - 6 million barrels per section from the Three Forks formation, with similar recovery -- about 8 percent.
3. Whiting plans to place two wells in each 1280-acre spacing unit in the Sanish targeting the Three Forks formation and two wells in each 1280-acre spacing unit in the Sanish targeting the Bakken formation. On average, there will be 2.5 Middle Bakken wells for ever 1280-acre spacing unit.
4. In Whiting's Lewis and Clark prospect in southwestern North Dakota, the Bakken formation thins out and becomes non-existent, whereas the Three Forks formation continues -- or "pinches out."
5. How long does it take to complete a fracturing stimulation? In about 24 hours.
6. How many days between "spud" to "spud"? 39 days and Whiting thinks they can bring that down by another 2 to 4 days.
7. I won't repeat it here, but the Q&A defines precisely how Whiting determines the "IP."
In all, there are 33 questions/answers at the end of the linked presentation for December, 2010. These are just an example.
Hi Bruce,
ReplyDeleteThought you might be interested in this story on the Alberta Bakken.
http://www.uranium-stocks.net/kirk-wilson-the-alberta-bakken-trend/
Thank you; I appreciate that.
ReplyDeleteI linked this at my Alberta Bakken page, on the sidebar at the right.
http://milliondollarway.blogspot.com/2010/12/alberta-bakken.html