RE: Depletion saying you follow 100 oil & gas companies is ok but saying you never seen such depletion rate? Have you looked at all those companies depletion curves for each well they drilled? It's normal for a well to initially produce over 1000 boe/d and in one year drops to 200 boe/d so unless you are only following companies that have wells that maintain more than 40% of it's initial flow rate one year out, you don't know what you are saying - just look at flow rate curves form other companies one year out.