Looking at corporate presentations over the past year, it appeared to me that the Bakken/Three Forks could support eight wells per 1280-acre spacing unit.
Today, BEXP says the same thing.
That's a huge story.
This supports Harold Hamm's assertion that the Bakken/Three Forks has 24 billion barrels of recoverable oil vs the 5 billion or so the USGS says is there.
Two years ago, folks were looking at an average of one well/section.
Then it went to two wells/section. Now we are at four wells/section.
On top of that, BEXP is going to accelerate its drilling program. I believe BEXP started last year (2010) with six rigs and said they would be up to eight rigs in early 2011. It certainly seemed like it took them a long time to get to eight. But the wind has been taken out of my said: BEXP, today, announced that it is going to accelerate to twelve (12) operated Williston Basin rigs in 2011.
That's huge.
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