posted on Mar, 14 2013 @ 03:00 PM
Originally posted by Res Ipsa
So far this thread reflects all that ATS is suppose to be against......Ignorance.
No doubt that the Bakken is rock en that's for sure, But since you know so much about it,, and I'm not being sarcastic.. what quality of oil comes
out of this place,, and how do they get it to market, ya you know the reason there flaring gas to right,, and the huge question and this is the big
question is what is the average depletion rate of these wells... and you know even if they hit there target of 800,000 barrels a day, of the tight
oil they get from there, whats that really add to global supply, we need 2 million barrels a day just to keep up with the depletion take place world
wide right now,,, No doubt this is great for our country short term, But these wells will be stripper status in 10 years,,, here is a link for
Presently the estimated breakeven price for the “average” well in the Bakken formation in North Dakota is $80 - $90/Bbl In plain language this
means that presently the commercial profitability for new wells is barely positive.
The “average” well now yields around 85 000 Bbls during the first 12 months of production and then experiences a year over year decline of 40%
The recent trend for newer “average” wells is one of a perceptible decline in well productivity (lower yields)
As from 2007 and also as of recently the total production of shale oil from Bakken has shown exceptional growth and the (relatively high) specific
average productivity (expressed as Bbls/day/well) has been sustained by starting up flow from an accelerating number of new wells