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| The cost to drill a horizontal oil well in the Bakken is between $3.5 and $4.5 million, the biggest detriment to drilling in the US is labor not government. If they could find the man power in the Bakken 25 rigs would be drilling tomorrow. The success rate of a fracking drill well is north of 95% and that increases when you go to the "newer " 12 to 20 pack well pads . With oil in the $100.00 a barrel area a Bakken drilled well would look to return $35 million over it's 40 year life span, with 12 to 15 million of that in the first 42 months. So yes I fully understand the investment cost, return ratio of investing in oil well in the Bakken.
For the record the return ratio was much better for those that took the risk with in the first 45 days after oil went negative but so to were the risk.
But your right jdironman I will wait for you to tell me what your experiance in oil investments have cost you.
Edited by FA11 6/23/2022 03:59
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brandon's energy policy...
