RE:RE:10 years "Tier 1" acreage/wells.Kelvin wrote: Excerpt from below link to a paper from the Society of Petroleum Engineers: "
The message in the study is that reservoir rock quality matters, but even in what passes for good quality shale rock, getting oil out depends on where the well was located and how it was drilled, fractured, and produced. “Rock is important, but a good rock without a good design is of less use,” said Anshu Mittal, an associate vice president for Deloitte."
https://jpt.spe.org/whats-difference-between-tier-1-and-tier-2-not-much
Kelvin, looks to me like Eric's guy was able to review internal production data while down south and was able to validate performance criteria that differentiates paying too much for Tier 1 acreage based on generalization vs actually securing the best rock available meaning the least amount of variability and having the data to back it up.
We shall see soon enough.