You just seem to always talk without knowing what you are talking about, don't you?...
Still acting like the clown you are.
So, here is why I think that the $20 Million NET ProfitND state estimate for each bakken well might be low:
There are some single laterals in that range now 1 million EUR range & ND used only an average number of 615,000 Bbls for their EUR to get that $20 Million net profit number.
As I said three times already the technology keeps improving....and if you look at the EUR estimates from about 3 years ago, they are now about double for the Bakken, and I think in three years from now that the rule and not the exception will be around 1 Million EURs for the Bakken wells. I think that is reasonable.
Furthermore, clownie, Hess is already at 1 Million EURs for their dual-laterals with a cost at around $11 million each. That is about what Newfield was spending last year for single laterals if I remember correctly.
Here is some info on Hess results ALREADY from LAST YEAR which shows they are at 1 Million EURs for their bakken wells on average....now:
Hess has an impressive 500,000 net acre position on and to the East of the Nesson. This includes much of what appears to be the core in Mountrail County. Whats also interesting about Hess in the Bakken is their drilling and completion strategy. They are drilling dual laterals with impressive results. They say the economics of this are beneficial since it takes less surface equipment, fewer verticals, and they can be drilled from a pad. Hess has been giving the same stats for these wells the past few quarters.
EUR of 1 million Boe per dual lateral
$10-$11 million per dual lateral
30 day IP of ~ 1000 BOPD, (~450-500 Boed per lateral)
Brutish, angry, emotional and ignorant and it does not care. Yet does believe they are born to rule others due to special occult insight - they insist is science when it clearly is just primitive religion.
Talk about Global Warming without addressing the rise of Asia. Mindless at ever level.
Here on an American natural gas board with a solution it does not want.
Now that is just about the type of bright response we all expect from you.
"Blah blah blah."
Maybe below this will help you with a better understanding of why there is such a big shift toward those very profitable oilier plays like the bakken & the hogshooter and others from the natural gas plays since late 2011.
This below was written when natural gas was just a little higher than now but the numbers are close enough to be used with the present price for OIL & for natural Gas to illustrate their point.
"OIL PRICE ADVANTAGE
One barrel of crude oil has about six times the energy content of a thousand cubic feet of natural gas.
With the natural gas price at about $4/Mcf and WTI at $86/bbl, crude oil was trading at an energy-equivalent price advantage of 3.58 in mid-April.
While finding costs are higher in the Bakken (approximately $13 according to Brigham Exploration Company) versus $7–$10 in the natural gas shale plays, operators in the Bakken enjoy a $73/boe price advantage compared to about $14/boe for the shale gas operators.
This price advantage has left the Bakken operators feeling smug and shale gas operators looking for oil shale opportunities, since the technologies of horizontal drilling and multistage fracturing can be applied to advantage for either gas or oil."