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Title : Just How Big Is The Bakken? Pretty Big -- September 15, 2017
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Just How Big Is The Bakken? Pretty Big -- September 15, 2017

Staggering: With 60,000 wells in the Bakken, using current technology, the oil companies will extract one-tenth of all the original-oil-in-place (OOIP) -- Lynn Helms.

How many producing wells right now? About 14,000. At the height of the boom, oil companies completed about 2,000 wells/year. Now, with the slump in oil prices, about 600 wells will be completed this year.

At 1,000 wells / year, to add another 40,000 wells, 40 years of drilling activity. And that will get us 10% of the OOIP.

Line here.

Graphic here:

To date: amount oil companies have invested in drilling wells, completing wells, and laying pipeline to transport Bakken oil -- $125 billion. About $2 million / every North Dakota resident (adults and children).

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