Idle Rambling -- OOIP -- Bakken -- March 15, 2020

If we have a prolonged period of low prices due to the Russia-Saudi spat, there may be an interesting data point in the Bakken.

Something folks have argued about for quite some time is the amount of original oil in place in the Bakken, and the percent of that OOIP that is recoverable.

During a period of significant price pullback, the operators will circle the wagons, pull back, and pretty much only drill the very best spots in the Bakken. The more wells they drill in a given location, the more we learn about a) OOIP; and, b) maximum primary production. Looking at what is going on in such fields as Sand Creek, Banks, Clarks Creek, and the Antelope-Sanish certainly suggests we may learn more about the Bakken.

During significantly depressed prices, operators will concentrate on what they know best: the middle Bakken and to some extent in some areas, the first bench of the Three Forks.

We know what theoretically has been forecast. It will be interesting to see how much of that pans out.