Posted on 04/10/2008 6:23:09 PM PDT by neverdem
But in 2001 stacfrack was no where near where it is today. The estimates are that they will eventually be able to achieve 50 percent recovery rates. Also, what about the size of the Bakken Trend. They cut it to 25000 acres.
??? Where did you see that?
I have had several calls from people wanting me to invest in this play but getting production out of shale is pretty hard. I hope this play turns out to be as good or better than it sounds. I like the horizontal drilling aspect of this field but it costs a lot to go horizontal.
I heard that there could be as much as 300 Billion barrels in this formation and as long as its there we have a chance to get a lot of it out of there as our techniques evolve.
My brother hated this news because he likes getting $110 for his oil and fears that this could drive the price down.
“Some folks were saying 400 to 600 billion barrels,...”
There are hundreds of billions of barrels there. The USGS report is saying that given current technology, about 4 billion are recoverable. That's roughly around 1% of the total amount of oil down there.
Others who are knowledgeable in this field believe that ultimately, 10% - 20% of the oil down there is likely to be recovered over the coming decades. This is especially true if oil prices stay toward the higher end of the historic range.
That could easily be 50 - 100 billion barrels.
sitetest
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