So Much Left To Be Done In The Bakken -- August 21, 2024

Locator: 48480B.

A reader sent me this earlier tonight. Thank you.

So much left to be done in the Bakken.

From WorldOil, August 20, 2024:

Enverus Intelligence Research (EIR) released its annual Williston Play Fundamentals that examines the distribution of remaining inventory across the play using economic and geologic viability. The report also dives into redevelopment performance and remaining potential, including refracs, lease line wells and drill-overs.

“Bakken operators are facing a critical decision: when to lean into redevelopment, with only 1,400 sub-$50/bbl breakeven locations remaining,” said EIR analyst and co-author Morgan Howrish.

“We suggest sooner than later, by executing on multiple strategies: refracs, tight-infills, drill-overs and lease line wells. These options could unlock nearly 3,000 additional locations across the basin, all vying for investment particularly in the play’s core where remaining inventory is scarce.

“Refracs, especially those with high proppant intensity, are emerging as contenders to help supplement basin wide production. Their mid-$50s breakevens can contend with new drills, albeit with a wider range of outcomes. While long laterals are becoming more common, they represent just 20% of new drilling activity as they are largely being executed in the extensional regions of the basin,” Howrish said.