For Newbies: Lots of Information on the Bakken in Whiting Presentations

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.