Does anyone know what the expected reserves are in the NE part of Midland County. Is thiis a repidly declining area of production.
proven reserves?
Total recovery for a 225 square mile area (i.e. the NE/4 of the 30x30 mile county)? (roughly 1BBoe). Per well recovery? 400-600kboe. I have no idea what anybody is telling the SEC in terms of PDP + PUD (proven reserves). Based on experience I’d bet its 20% higher than that…because well…juking the stats is how people get ahead at work.
Is this a rapidly declining area of production? Not on an overall basis. Its been pretty flat over the last year. Existing wells decline, new wells come on. On an individual well basis? Absolutely. Everywhere anywhere the new wells are on screaming declines.
I had this randomly sitting around. Some average of Wolfcamp B wells in 37 T3S. EUR per well about 450kbo.
Is 450,000 bo EUR over ten years, or over a longer producing life of a well? If longer timeframe, how many years total, e.g., 20? 30? Thanks.
Its until economic limit. 30-40 years. You make 80% in the first 10 years.
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