Shale oil wells typically decline 10% to 15% faster than shale gas wells over the first year. In the high-pressure zone of the Bakken, decline rates above 90% over the first year of production are common; a high IP typically implies a high initial decline
Bakken statistics show an average increase of 24-hour initial production rates from 600 to 800 boed/d over 2009-2012 as the completion techniques were fine-tuned. The average number of stages increased from 19 to 27 over the same period, while the average rate of production per stage decreased from 36 to 25. Also, the frack intensity for each stage and the fracking pressure increased, proppants and fluids were improved, and accurate microseismics provided better understanding of the fracture dynamics. The IP learning curve has now apparently peaked, the technology is optimized, and some of the sweetest locations have already been drilled. Over 2012 and 2013, the average IP rate has decreased from 800 to 700 boe/d. The decreasing IP comes from down-spacing wells in the Mountrail (EOG), drilling on the shallower Bakken in the west (Continental), experimental wells in the deeper and high-permeability/low-pressure wells in the southern part of the play (Whiting). We expect IP rates to fall by 5% p.a. after the drilling activity peaks on the acreages.
why don't you put the whole-why would a stupid dofus like you leave out the good points of that article?? yOU DADDY-TAINT LICKIN BALL SNIFFER
But since the decline is also highly hyperbolic, the ultimate reserves can still correspond to more than 500 days of the initial production rate. Artificial lift by using pump-jacks also contributes to long flat tails as the downhole pressure falls. Hyperbolic decline curves, with IP from 400-2,000 boe/d, Di from 2-5% per day and b values of 1.5-2.5 fits nicely with most normalized curves from wells
EOG chokes their wells pretty good. These will be 1M plus EUR's. These wells will pay for themselves in 4 - 6 months. The IRR on these wells will be very good. Well results will continue to get better and we will see the % recovered go up as they effectively tap more and more benches