Title : Idle Chatter Regarding The Bakken -- May 1, 2019
link : Idle Chatter Regarding The Bakken -- May 1, 2019
Idle Chatter Regarding The Bakken -- May 1, 2019
I've been going through the wells that came off the confidential list in 1Q17. Some observations:- these are huge wells; much different than the wells we saw in the earlier days of the boom
- wells are reaching 250,000 bbls or upwards of 400,000 bbls in two years
- the wells show the usual decline, but the decline is nothing like it was in the early days of the boom
- many, many wells are showing significant increased production due to impact of newly fracked neighboring wells
- older wells -- even two years old -- show remarkable return even after a small re-frack
- if the Permian is anything like the Bakken, the US shale revolution will be factors of 10 greater than what folks think the US shale revolution was going to be
- most of these older wells require little daily maintenance; little expense
- the major expense has been re-captured; it would be interesting to see the "margins" on these older wells (the price received for the oil vs the cost of producing it after the original CAPEX was spent)
- these wells will continue to produce for the next 30 years
- tier 1, tier 2, tier 3 will be defined by the price of oil, or to paraphrase Hemingway, "movable tiers
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