The Gap Is Not Trivial -- August 2, 2021

Do you remember the trope that "daughter wells" in the Bakken are never as good as the "parent well"?

The following graphic is from CLR's August, 2021, presentation (CLR August, 2021, presentation: pdf link here.):

Note the 2021 wells. 

Everyone of those wells is a daughter well. The parent wells, in most cases, were drilled back before 2016.

And, oh, by the way, this is happening across the Bakken, not just in the "sweet spots."

Trivia: it appears that "150 = 150." 

Average cumulative MBoe (150) at 150 days. It's almost linear until 250 (either the x axis or the y axis) at which time the slope tends to decrease ever so slightly. But it looks like one can anticipate 300K boe in the first year.

At the wellhead:

• 300K bbls x $25/bbl = $7.5 million.

Folks who have followed the Bakken for a long time, know the significance of that "$7.5 million" figure.