Spectacular EOG Well; Another Nice BEXP Well -- Bakken, North Dakota, USA

A spectacular EOG well:

• 18825, 951, EOG, Van Hook 8-36H, Van Hook, Bakken, 100K in 5 months -- whoo-hoo!

A very nice BEXP well

• 19198, 2,834, Arvid Anderson 14-11 1H, Alger oil field, Bakken; 50,000 barrels in less than two (2) months. At this pace, it too should go over the 100K mark at six months.

For newbies:

• The IPs only provide one data point; perhaps IPs, at best, begin the discussion
• With regard to production, what really matters, is the ultimate production of each well. Generally speaking, in the better fields in the Bakken, folks are estimating the ultimate recovery from a well to be in the neighborhood of 750,000 barrels
• Some producers are putting in as many as seven, maybe eight, wells in a 1280-acre spacing unit (two sections), in the "core" Bakken
• Horizontal Bakken wells cost in the neighborhood of $7 million to complete
• A Bakken well generally has a fairly significant decline rate, but once they stabilize / level off, some folks feel they could produce oil for 20 years or longer
• But if these wells "pay for themselves at the wellhead" in less than two years, and keep on producing, albeit at a much lower rate, for another 20 years, one can see why folks remain excited with the Bakken