BEXP: New Presentation Today -- Bakken, North Dakota, USA

New BEXP presentation today (a PDF link).

Some highlights:

• Slide 7: notice how number of wells/spacing unit has increased from three (3) to six (6) over time
• Slide 8: notice how wells with EURs of 500 - 700,000 bbls continue to produce for 20 years; albeit not much in the out-years. As the wells are abandoned, the pads will revert back to farmland (wind turbines will be there forever)
• Slide 10: notice how the "pie" has grown; from 30 to 70 million bbls of proved reserves; mostly oil
• Slide 22: it looks like BEXP is averaging about 34 fracture stages/lateral
• Slide 23: shows the interval between fracking stages; as little as 250'
• Slide 26: growth in production is staggering (the trajectory should continue)
• Slide 26 and slide 28 : average daily volume 3Q10 was 6,356 bopd; all of this oil (6,935 bopd) was hedged between $65 and $100

Other comments:

• Slide 19: a pat on the back. I think I was the first to post that fracturing in the Bakken only seemed to be effective about 500 feet out from the wellbore (that was posted so long ago, I may not be able to find the link). And sure enough, laterals are being laid about 1000 feet apart from each other.