Random Data Points on The Bakken From the State Via The Dickinson Press

Update

Later, 2:25 p.m.:  This is now a front-page headline, along with Facebook implosion, at Yahoo!Finance front page. The link is dynamic.  Here's the AP story.

Original Post

Link here.

The average Bakken/Three Forks well in North Dakota (some numbers rounded; see link for their data):

• costs $8 million
• will produce 540,000 bbls of oil 
• will produce for 30 years 
• net profit: $20 million 
• in taxes: $4.5 million 
• royalties: $7.5 million 

I remember when I started this blog: many folks said the Bakken was "hyped."

I assume these numbers, if coming from the state, are conservative and based on USGS estimates of 4 billion bbls of recoverable oil. Some oil companies now estimate more than 24 billion bbls of recoverable oil from the Bakken Pool.