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NCND | Thanks for info guys.
Here is a pic of what I'd call some bakken envy.
It's a whiting well. Whiting is thinking now they can recover 10% of ooip(original oil in place) that's up from 3-4% couple years ago.
They are getting better at it still.
Check out this well. The gas production alone is world class. Let alone the oil. 1% net of this well at 50$/barrel will net you a cool 250k before extraction tax each month. Might even get emtd to quit complaining for a day or two!
Edit to add 1% net of this well would require 76.7 acres minerals on 1280 spacing at 1/6 royalty. Royalty may well be higher 3/16=68.3 acres for 1% net. Say you own the section Well let's not go there
Edited by vailcat 5/6/2015 05:23
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Rich79's comment
