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This is just one of a gazillion examples I could show why I am inappropriately exuberant about the Bakken.
Imagine you are the heir to a homesteader who farmed 160 acres, in section 8-147-96, retained the minerals and passed them on to his grandchildren (one of whom was you) and great-grandchildren. The families are multi-millionaires many times over (or will be).
First, look at the activity several years ago at this link, the screenshots from 2015.
Now, look at what has happened since then, screenshots of the same area six years later.
These wells are on the pad to the west, running north to south:
- 38117, conf, Dennis FIU 13-8H1,
- 38128, conf, CLR, Dennis FIU 6-8H,
These wells are on the pad to the east, running north to south:
- 38129, conf, CLR, Dennis FIU 15-8HSL1,
- 38140, conf, CLR, Dennis FIU 12-8H,
These wells are on the pad running diagonally, northwest to southeast:
- 38146, conf, CLR, Flint Chips Federal 11-5H1,
- 38151, conf, CLR, Flint Chips Federal 16-5HSL,
As I said in a recent note: I really don't care one way or the other how CLR the company does for its investors. Don't take that out of context. This is not an investment site. But just imagine one individual who started out in life driving water trucks for wells in Oklahoma and is now able to authorize his folks to apply for permits for siting 30 wells in one section and then watching them be drilled.
Note: regardless of the density of wells in the Bakken, it is generally understood that in the core Bakken, it is expected that new wells have a EUR of at least one million bbls of crude oil.