Talk about being overly optimistic about the Bakken. In a private convo with a friend last week, my take was this: With new tech available to re-frac wells and the halo effect it produces and other benches just now being tappped... The USGS has no clue as to how much recoverable oil is in the Bakken. And the tech is only going to get better
It goes back to original oil in place and percent recovery rate. There are huge arguments about original oil in place.
With regard to recovery rate, when they first started drilling, they estimated the recovery rate was one to three percent. It quickly went to three to seven percent but no one talked about that. I think I know why.
Since then, some suggest that recovery rates are as much as 12 percent and some suggest that in some areas it could be higher.
But if the original wells had a recovery rate of, let's say two percent, then with better completion techniques they went to four percent, they doubled their production.
When I first started blogging about the Bakken I ran all those numbers and could come up with estimated ultimate recovery from one acre, and from one section (640 acres), it was incredible. I've long forgotten all those numbers and it would be difficult to find those posts but one can run through them again.
I don't bother because again, I would get too much push back from all the naysayers.
The field to watch is MRO in the Bailey oil field.
Talk about being overly optimistic about the Bakken. In a private convo with a friend last week, my take was this:
ReplyDeleteWith new tech available to re-frac wells and the halo effect it produces and other benches just now being tappped... The USGS has no clue as to how much recoverable oil is in the Bakken.
And the tech is only going to get better
It goes back to original oil in place and percent recovery rate. There are huge arguments about original oil in place.
DeleteWith regard to recovery rate, when they first started drilling, they estimated the recovery rate was one to three percent. It quickly went to three to seven percent but no one talked about that. I think I know why.
Since then, some suggest that recovery rates are as much as 12 percent and some suggest that in some areas it could be higher.
But if the original wells had a recovery rate of, let's say two percent, then with better completion techniques they went to four percent, they doubled their production.
When I first started blogging about the Bakken I ran all those numbers and could come up with estimated ultimate recovery from one acre, and from one section (640 acres), it was incredible. I've long forgotten all those numbers and it would be difficult to find those posts but one can run through them again.
I don't bother because again, I would get too much push back from all the naysayers.
The field to watch is MRO in the Bailey oil field.