Once the infrastructure problem is reined in and crude and service prices stabilize, get ready for full scale Bakken development: rig counts north of 250, and more major oil companies moving into the State."250" has been bandied about for some time. The number of rigs is not a particularly useful metric to judge productivity. Bigger rigs and the increasing number of mega-multi-wells pads are changing the landscape. The best metric: month-over-month and year-over-year oil production.
The writer's use of "capitalization" in interesting.
Oh, by the way, speaking of rigs: 206 active drilling rigs today -- one short of the all-time high of 207.
EPA back peddles again on fracking!!
ReplyDeletehttp://online.wsj.com/article/SB10001424052702303404704577313741463447670.html?mod=WSJ_WSJ_US_News_5
Crager
Thank you. I've added this link to my original post on this story, a story that I've followed with interest for a long time.
DeleteThe southwestern part of the basin will add 150 rigs alone. CHesapeake will have 30-40 rigs alone.I'm looking at way over than 300 hundred rigs next three years or so.
ReplyDeleteYou may be correct, but it will be a different play than the Bakken formation. Tyler/Heath. Maybe Three Forks. Madison Group. Lodgepole reefs hit or miss.
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