My hunch is that this bullet has been on the slide for quite some time, but I simply didn't notice it. Or, NDIC has quietly increased the estimate of recoverable oil in the Bakken. Regardless, here are the Bakken numbers according to the NDIC:
- Proved: 7 billion bbls of recoverable oil
- Probable: 10 billion bbls
- Possible: 14 billion bbls
Compare with CLR's estimate: 45 billion bbls recoverable oil (raised from recent 24 billion bbls)
With all the permits for 18 wells on 1280 spacing that CLR's reqesting on September hearing dockets. Looking pretty agressive. Perhaps 24 billion is attainable. We will see. Fun to watch this evolve. North Dakota is keeping America strong. Wow, what a change in 6 short years.
ReplyDeleteYes, it is quite incredible. And it's not just CRL requesting 18 wells on 1280-acre spacing; several others have requested the same.
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