You are the one who just made up that the bakken is not profitable for Linn....and that is FALSE....right?
Still have some difficulty reading the Linn slides?
"Please notice the BAKKEN profitability is specifically mentioned as: Rate of returns: ~50%"
And this is the Linn slide that it came from is copied for everyone's reading pleasure...notice the end:
Rate of returns: ~50%...& see below....."Offers high rates of return"
That sure sound like a very profitable Bakken, ...... in any language.
Williston Basin – Bakken Play
Note: Unless noted, all operational and reserve data as of December 31, 2011.
(1) Average production rate as of 4Q 2011.
Strategic entry into premier oil basin in 2011
Non-operated position with high quality
Offers high rates of return
Significant growth potential
Additional consolidation opportunities
~14 MMBoe proved reserves
~3,500 Boe/d of current production(1)
~17,000 net acres
48% proved developed
~7% average working interest
~800 future drilling opportunities
Current activity and average results
IP rates: ~1,000 Boe/d
EURs: ~500 MBoe
Rate of returns: ~50%