How good? Read the article Don sent from Forbes magazine.
The Bakken is not mentioned but these plays are:
- the Arctic: the Dutch can't help but notice that Shell has given up drilling this year; the company has spent $5 billion (with a "b") so far "scratching the surface of the Burger A well; permits not in place to develop Beaufort wells (the "permitorium" problem); paid $2 billion (with a "b") back in 2008 for the rights to this debacle;
- the Gulf of Mexico: "BP's terminal experience" -- 'nuf said
- Canadian oil sands: "very tetchy local legislators"
- off-shore Brazil: MDW wrote this play off long ago; country won't risk white sandy beaches;
- Russia: "where the biggest unconventional challenge rests"; operators simply don't trust Russia -- Forbes
- China: the state oil companies will resist foreign intrusion (except for the technology)
That $5 billion + $2 billion spent by the Dutch so far in the Arctic and nothing to show for it puts the QEP/Helis Bakken deal in perspective.
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