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The Worrying Math From US Shale Plays
Thursday, January 8, 2015 15:26
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from Oil Price:
There has been considerable dispute over how many new wells required to keep production flat in the Bakken and Eagle Ford. One college professor posted, over on Seeking Alpha, figures that it would take 114 rigs in the Bakken and 175 in Eagle Ford to keep production flat. He bases his analysis on David Hughes’ estimate that the legacy decline rate for Bakken wells is 45% and 35% for Eagle Ford wells. And he says a rig can drill 18 wells a year, or about one well every 20.3 days.
The EIA has come up with different numbers. The data for the chart below was taken from the EIA’s Drilling Productivity Report.
