Operator Effectiveness in the Bakken -- North Dakota, USA

I'm sure this metric has been discussed by someone elsewhere before but until today I had not seen it discussed, except for my stand-alone post on the subject on June 21, 2011.

Perhaps he discussed it in Parts I and/or II and I simply missed it, but here is what Michael Filloon had to say in today's Part III regarding the Bakken:

Continental (CLR) had 868,900 net acres as of March 2011. 68% of this acreage is de-risked and in development mode. Of its 365 million boe 2010 proved reserves, 42% were in the North Dakota Bakken. Continental has had very good results. The six month total production of wells drilled since 2009 by Continental is 4.145 million boe. Over this time it has drilled 69 wells. Its six month average production as of January, 2011, is 60 Mboe. This trails Whiting's (WLL) 100 Mboe and Brigham's (BEXP) 81 Mboe over the same time frame, while being equal to EOG Resources' (EOG) 60 Mboe. 

(100-60)/60 = 67%. Whiting's production is about 67 percent better than CLR and 23 percent better than its nearest "competitor." A very interesting metric. 

Of, 4 million / 365 million = about one percent. Yup, there's a lot of drilling yet to be done.