Re-Posting: I Wish I Had Said That -- The "Economically Viable" Bakken Footprint Grows Bigger -- November 28, 2018

Re-posting from this morning:

New York Movers And Shakers Appear Envious

Updates

Later, 3:32 p.m. CT: see first two comments [at the link above] regarding how much better the Bakken wells have become over the years. Now this very observant comment from another reader:

The subtle importance of Larne's comment ought not to be underestimated as it pertains to the Bakken, other shale plays, and future potential shale targets. 

To now drill WAY faster, with more precision, and MUCH higher recovery factor (20%+ according to some operators) will vastly expand the US productive acreage.

I strongly suspect that Helms et al want an updated USGS assessment for the Bakken as the current recovery rate of OOIP is now 3 to 5 times higher than earlier when the USGS projected 7+ billion barrels oil Technically Recoverable Resource (TRR).

 Original Post

Speculators buying up mineral rights in eastern Montana for pennies. The article is behind a New York Times paywall. It's been my experience that if these "efforts" pay off, it is the grandchildren that benefit. The vast majority of these mineral acres will never be developed. But they are great for "flipping" to unsophisticated investors who get caught up in the "Bakken revolution."

Good luck to all.

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We saw a lot of this in North Dakota some decades ago. My hunch is that Harold Hamm picked up a lot of minerals in North Dakota many, many years ago, well before the boom.

From the linked op-ed: