Recent blogs ("Million Dollar Way" and others) have stated that there will be upwards of 50,000 wells drilled in te Bakken pool. People who post such tripe don't have a clue what they're talking about.
They can't drill 50,000 wells in the Bakken - it's big but it's not big enough. Most states have regulations on how many wells you can drill in a given area. In Texas, wells must be drilled a minimum of 1200 feet apart (run those numbers against the Eagle Ford to see how many 2 mile horizontals will fit side by side since it applies to the entire horizontal length.)
In North Dakota, to drill a 2 mile long horizontal well (which is typical in the Bakken), you need a 1280-acre spacing unit, which is 2 square miles. North Dakota itself is only 70,000 square miles in area, so if you drilled the entire state with 2 mile horizontals, you could only fit 35,000 wells into it.
The Bakken, however, only occupies the northeastern 1/4 of the state, so if they drilled the whole area in 2 mile horizontals (which they might well do at the rate they're going), they might be able to fit in 8750 or so wells. The North Dakota Department of Mines and Resources thinks 10,000 wells would do it. I'd say they are about halfway to doing that with over 5000 wells drilled to date.
These are just ballpark numbers and you can adjust them to fit the available data. I'm just trying to establish where we are on the bell-shaped production curve. Given the very steep initial decline rate on the wells, close to the top would be my guess. The bottom line is that this play is around half done.
"Recent blogs ("Million Dollar Way" and others) have stated that there will be upwards of 50,000 wells drilled in te Bakken pool. "
RLP'D will just keep palavering for the OLB troopers rather than admit really foolish posting on the pipe line.
Now we can add characterization of the of the Williston formation/Bakken as a 'pool' In fact it is a vast three dimensional resource with benches and even tiny pools which were islands. This is why the multi-platform
was such a technological breakthrough. It is also why making such a foolish comment shows RLP'D doesn't have a clue about the resource.
All it needs to do is find something in print to post i even from the most questionable sources as lots of 'opinion' - even those purposefully dissembling are valuable.
NO it is not and why RLP'D wastes its life and any who would take it seriously.
Like ROn^3 posting only 7% of Americans had a gun during the Revolution. It only shows he never bothered to study our history and really does not feel any need to an informed citizen.
We honor our Elders for their wisdom and not their wrinkles. As we come never our time, it is time to be less selfish and more caring. The young are to busy to learn wisdom youth but later as they mature they can.
norris, clown-chatter that we know he know better because he already saw the presentation from the Minot Energy Chamber12/5/12 and if you do look at it posted at the Recent Presentations section of the North Dakota Industrial Commission, Department of Mineral Resources, Oil and Gas Division website then please notice slides #10 through #22 inclusive.....
The actual photos of a 1280 unit with 6 wells, the Continentasl Charlotte multiwell pad showing 8 wells per 1280.....charlotte looks like it has 21 wells...the presentation says that about 40,000 more wells will be drilled but Mr hamm said more than that to develop the resource.
The slides also points out that the williston basin has been producing oil since 1951 & has already produced OVER 2 BILLION barrels (by 2011) ......so about when did he say it was all going to dry up?
Try and ignore the misleading info posted which is referenced as being from some blog....why not just go see what the state of ND published directly for the info....and not rely on someone else's interpretationor blog opinion.