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35 comments on RFK and Garbage Trucks: Two Measures of Success
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35 comments on RFK and Garbage Trucks: Two Measures of Success
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There is an awful lot of "ifs" and "coulds" in those links. But no "when" and "how".
Don't belive the hype.
You can find estimates online that only 1% of the Bakken oil is technically recoverable. Hey, doubling that using an amazing feat of unknown technology would give you 2% recoverable oil.
Now, asking the pros on The Oil Drum: Is a 100 000 barrels of total production from a single well good? Not per day. Total lifetime of well. I don't think so. A pretty normal offshore well produces 10 000 barrels per day, not for ten days, but for a few years. just goes to show how difficult it will be to produce Bakken. Can anyone spell "rig count"?
It's not great, but would likely be proftable, depending on the IP and well cost. Some quick and dirty economics I use are that it takes ~20,000 bbls of reserves to payout for each $1 million you spend on the well. This is considering royalties and taxes which take a big chunk right off the top of $100 oil. So... If this was a 7,500' well for $1.5 million, with an expected IP over say 100 boe/d I might drill it, depending on my other opportunities, but if it were a $4 million deep well, it would probably not be drilled.