Drilling Fast To Stay On A Plateau In the Bakken

Rune Likvern has a very long look at shale oil production statistics for the Bakken in North Dakota at The Oil Drum - Will the Bakken “Red Queen” Have to Run Faster?.

This post is an update and continued expansion to my previous posts about tight/shale oil in Bakken/Three Forks in North Dakota (ND):

* Is Shale Oil Production from Bakken Headed for a Run with “The Red Queen”? * Is the Typical NDIC Bakken Tight Oil Well a Sales Pitch?

This post documents:

* At present oil prices Bakken tight oil has the overall prospects of being profitable. * Between 70-75% of the studied wells (well cost @9Million and oil price @$90/bbl) were found to have a prognosis for being at or above breakeven (being profitable). * If (or rather when) average well productivity declines further, this will add a new meaning to the term tight oil. * Developments in average well productivity.