GREY:SXNOF - Post by User
Comment by
Bobwinson Jul 10, 2008 10:37pm
244 Views
Post# 15280935
RE: Pls. check this link !!!! IMPORTANT !!!
RE: Pls. check this link !!!! IMPORTANT !!!The Bakken area is huge. The prospective land area covers several states and goes into Sasketchewan in Canada. The results have varied widely depending on the location. Canadian Bakken wells are smaller, typically 75-300bpd while some of the US Bakken wells have been as much as 1800bpd. The horizontal drilling and multi stage fracs are expensive so a 75bpd well that falls off quickly to 30-40bpd may not be economic.
The majors like the Bakken because it's a large acreage play that can be repeated over and over again if you have the right acreage tied up. The higher cost per well also restricts the competition a bit. Your local driller isn't anxious to spend 2 to 3 million per well to get 100bpd.
So I think it's best to wait for the report to see if the engineers are willing to give Saxon reserve potential for this play. They have minority interests so their operator partners would have to be interested before any drilling takes place. Newfield is definitely big enough to handle this financially and technically and so is Whiting. Just depends if they think this acreage is worth the risk.
Bobwins