Friday, August 3, 2007

Prudhoe Bay, ND??

There seems to be no stopping the phenomenal success at Parshall Field in Mountrail Co. EOG statements regarding its 2nd Quarter results indicate more astonishing production rates from its wells -- 1,700 to over 2k bbls/day initial rates. Their calculation of 600k bbls recoverable per well may be overly optimistic, but there isn't enough production history yet to rule out the possibility. The company plans to add a fifth rig by years end and possibly have eight running by this time next year.

The importance of this find can't be overstated -- not only are there areas in ND as economic as those in MT, but there are areas that are exceedingly economic. How is the infrastructure in ND going to handle all this oil? More importantly, does anyone have any open minerals for lease in the area? haha

Whiting O&G has also announced a major discovery west of Parshall Field and has big development plans for that area.


Anonymous said...

10k per acre and 1/4 and you got a deal!

Anonymous said...

Anyway you could correct the spelling of Prudhoe?

Teegue said...

I don't know, I thought Purdhoe was the ND version.

As for the first comment, I was thinking along the lines of 30 and 1/8, but 50 would not be out of the question I guess. ha

Anonymous said...

Hey a lot of people got those leases. Im sure their not laughing now. Besides that first offer is still proffitable and its near Killdeer.