Another Look At Mike Filloon's Most Recent Article on The Bakken...

... I linked it on December 5, 2012, but completely forgot about it. Mike's article was posted December 3, 2012. I highlighted CLR's December, 2012, corporate presentation a few days ago. 

Here is the SeekingAlpha/Mike Filloon article, again:

Continental Resources  is levered to the Williston Basin. With approximately one million acres in North Dakota and Montana, it offers exposure to virtually all areas of the Bakken/Three Forks. Going forward, Continental has upside on both the top and bottom lines. 2012 drilling and completion improvements have decreased costs and increased production. Proppant and water costs continue to decline allowing for increased usage per well. This is improving recoveries. Eco-Pad development is expanding at a fast rate. Oil transportation to the east and west coasts provide realized pricing equivalent to Brent.

A couple of interesting data points from Mike:

• increasing interest in the McKenzie County (wow, that was my prediction in 2011, that the interest would move from Mountrail to McKenzie County)
• and, a new EUR in Croff and the "Helis Grail": 1.5 million bbls --- can you believe that? Huge. Onepointfivemilllion bbls. Simply incredible. For newbies: early in the boom "we" were talking about EURs of 300- to 400,000 bbls; then 600,000 bbls, and folks thought 900,000 bbls was outrageous. Now 1.5 million bbls in some areas of the Bakken from a single well, and they will put in as many as 14 wells in some spacing units.

Mike continues:

This is important, as interest in NE McKenzie has grown significantly over the past two years. QEP Resources' acquisition of Helis's acreage in Croff and Grail fields proves this value. The best wells in this area targeted the upper Three Forks, with consistent EURs of 1000 MBoe. Wells have modeled to a maximum EUR of 1500 MBoe. This area is inconsistent with the rest of the basin, as the upper Three Forks outperforms the middle Bakken in this field. In the general vicinity of this field, the upper Three Forks has produced 10 wells with more than 1101-1500 Mboe. The middle Bakken has produced 8 within this range.

Wow, that's an incredible article by Mike. He hit every "hot button." Very, very nice.

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I must have been overwhelmed with data at the time Mike's article was posted on December 3, 2012, that it didn't sink in until tonight when I was reviewing Bakken data.

EURs of 1.5 million bbls. That is absolutely huge. I was blown away a year ago or so when "they" were talking about EURs of one million bbls in the Bakken, but now, to see 1.5 million bbls in some areas of the Bakken, this early in the boom is quite incredible. Maybe I'll remember this time: Croff. "Helis Grail." KOG. QEP. Onepointfivemillioneurs.