For those who have been following the Lodgepole story and Oil for America, there is a rumor that the first two wells were successful. At the link, there is an update dated December 10, 2010, as well as background to the story for those who are not familiar with it.
If these wells are indeed successful, this is going to be a big story.
I'm sure there will be much more to write about next week if not sooner.
A big story indeed! The 11/16/09 Oil & Gas Journal article hints that this could be much bigger than the Bakken. And only Oil For America has the technology to get at these Lodgepole chimneys - if they're right. And I think they are.
ReplyDeleteIs anyone interested in investing with this group? Let me know, because I am in the process of doing so. Email me at smlpaul@comcast.net.
Thanks for staying on top of this, Bruce.
It's "ironic" (an over-used word) that you should send me this comment when you did.
ReplyDeleteEarlier this evening I was having the same thought: that the Lodgepole chimneys could be a bigger deal than the Bakken.
Someone has opined that not one Bakken well is expected to have a EUR of over 1 million barrels; whereas, at least one Lodgepole well as already produced a million barrels and is still producing, and if the theory is correct, more to follow.
You're right Bruce. And then some. There have been at least 5 Lodgepole chimneys that have produced over 4 Million barrels of oil and 2 Billion cubic feet of gas each. And they are still producing 15 years later.
ReplyDeleteThey started out like Bakken wells, at say 1,300 barrels per day (one up to 3,000). But where Bakken wells drop off to about 10% within the first six months or so, these just kept on producing. The 5 averaged over 1,250 barrels per day each for the first 8 years of their production before they began declining.
Amazing.