EOG Parshall Field Well On Track To Produce Revenues Over $100 Million -- Mike Filloon At SeekingAlpha

Mike Filloon looks at the Parshall oil field at SeekingAlpha:

These numbers are incredible when you look at the best and worst wells on the list. These wells, using today's values ($90 WTI and $4 natural gas) have produced significant profits. Some wells have already produced over $50 million in revenues.

Well #16795 was over $52 million, and by my estimates should double this over the life of the well. This means this is a $100 million short lateral, with well costs of $5.5 million. Even its worst results are good. Well 1#6164 has only produced approximately $16 million in revenues over the course of 9 years. Even this result is considered good, and will probably have revenues of over $20 million over the life of this well.

In summary, Parshall Field is the best acreage in North Dakota. This geology coupled with EOG's well design has produced wells that are much better than the Bakken average. It is possible northeast McKenzie County is as good, if the Bakken and Three Forks wells are also considered. Even so, Parshall Field has undoubtedly the best middle Bakken pay zone in the Williston Basin. Even when compared to the best wells drilled today, Parshall Field's early Parshall Wells are easily better. Some of this is due to well design, but the geology is the number one reason for its out performance.