Data points from the presentation. Recall -- Richard (Dick) Findley is chairman; credited with discovering the Elm Coulee in the Williston basin in the 1990s (previously posted).
Net acreage
- all (?) in northwest corner of Divide County (along Canadian border)
- 46,800 net acres
- 66% operated
- 65% HBP
- shallower; superior rock quality; relatively high EUR wells; high oil content
- shallower: lower drilling cost
- superior rock quality: reduced proppant volumes; no ceramic required
- 2.5 million lbs vs 4 - 5 million lbs (often with ceramic) in rest of Bakken
- 89% oil
- $6.4 million well completion costs (drill and complete)
- EURs of 400,000
- $50+ / boe cash margin
- 45% - 50% IRRs (exceeds the Bakken in general -- 36%)
- 45%+ IRRs
- 21-month paybacks (remember, EOG wants one-year paybacks)
- $7.0 million per well
- EURs: 393,000
- oil trucked to rail terminals
- natural gas capture should go from 85% to 100% if plans work out with Tioga Hess plant
- electrical infrastructure should reach Spyglass by end of 2014
- proved reserves: 7.6 years of inventory
- undeveloped area: 8.5 years of inventory
- 27916, conf, George 3-1-163-102
- 28117, conf, AMZG, Crestone State 3-1-163-102,
- 28430, conf, AMZG, Iver 3-1-163-102,
- 28572, conf, AMZG, Massive State 3-1N-163-102,
did he really discover Elm Coulee aka Big Sky?
ReplyDeleteThe Elm Coulee oil field in Richland County, Montana, yes.
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