If you want to see a great photograph, go to slide 21 of this 25-slide presentation -- an Eco-Pad.
World proved reserves (billion barrels)
- Ghawar, Saudi Arabia: 140
- Rumalia, Iraq: 22
- Cantarell, Mexico: 11 - 20
- Prudhoe Bay, Alaska: 13
- Tupi, Brazil: 5 - 8
- Bakken: 11 - 24 (depending on analyst)
- Total official estimated US reserves: 19 billion
- 24 - 30 stage fracs
- 8 stages per day
- Sand + ceramic proppant
Increasing production rates (90-day average) (my estimate based on graph)
- 2007: 180 bbls/day
- 2008: 220 bbls/day
- 2009: 400 bbls/day
- 2010: 450 bbls/day
More frac stages = higher EURs
CLR using 518 as representative for EUR in presentation
Similar to Whiting, CLR is estimating 8 horizontals on 1280-acre spacing units
CLR says IHS esimates North Dakota to produce 1,000,000 bbls opd by 2020; I've seen others suggest 1 million by 2015. The delta probably relates to infrastructure and takeaway capacity.
