Lightstream Resources Ltd. LSTMF

RE: bakken decline rate is higher

[ltrabs]

Yes,PBN Bakken company wide decline rate is higher than CPG…  For a good reason. 
 
CPG have been drilling the bakken longer, since  2003 or so. 
PBN  have been drilling the bakken since  2007 with 21 wells, 75 in 2008, 53 in 2009 and 93 in 2010. 
 
New wells with higher decline rates are  a higher percent of PBN’s total producing wells.
According to their own "download  a  list of our   single  leg Bakken  wells  " & " download a  list  of our  bilateral    Bakken wells"   
 
New wells have higher  declines  than  the older  wells. Decline rates  decrease   over  time. 
CPG state  their  new  well  Bakken   decline rate is 70% - see their  latest  slide 25. 
This slide also shows   the  decline  rate  decrease   over  time. 
PBN have stated  their  1st  year decline  rate  for new Cardium  wells is 70% ...same as CPG in the Bakken.  
 
Providing PBN can   maintain   present   Bakken  flow rate with 75 new wells,it follows that  theirBakken decline rate  must  be down a little  from  40%. 
Closer to 35% in 2011 ... and lower  in 2012 ....