Whiting Pet. knows that the best way to impress investors is to use lots of pictures. Yes!! They are proud of their Perry-State well, and rightfully so.
And a picture from an American O&G well in Wyoming (note it's in WY, not ND) that I'm throwing in just because I like it.
2 comments:
Teegue,
Thanks for posting this. Whiting's cross-section makes it all clear to me now! I always will take a WI on the basis of a pretty cartoon.
Serioulsy, though, Brigham is talking up their Mountrail acreage in a big way, like everyone else I guess. By their own account, they are exposed to unrisked net 27-56MM BBLs based on 700-950M per well EUR. Just how optimistic is this? We know it is, the question is: by how much?
What are these guys using the prioritize their locations? Just 2D? Is their alot of vertical well control?
Any idea how effective this will be, or is just a dart board and numbers game?
Regards and Good Luck
I don't know why they need seismic when they have Whitings cross section to work from. ha There has been a lot of 3D done in the county the past year but I'm too lazy to look up if it's in these areas where Brigham is currently at. There isn't a lot of well control in Mountrail Co. period. I think they are basing their locations are some data, but although they know there will probably be commercial reservoir, they won't really know anything until the bit gets there.
Brigham has a small amount of acreage in the proven area around Parshall field itself (4,500 acres). Most of their acreage is to the west and northwest of there in largely unproven areas (25,000 acres). A year from now should be telling as to how big this sweet spot is. The EURs are up in the air as far as I'm concerned and there is a lot of puffing going on in my opinion. I think a half a million per well is almost a certainty in the current sweet spot, and anything above that is guesswork.
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