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re: Goodrich grabs big stake in Tuscaloosa formation
Posted on 7/24/13 at 7:32 pm to dewster
Posted on 7/24/13 at 7:32 pm to dewster
1,000 barrels a day @ $100+ BBL is pretty good return on a $10 to $15 million investment in drilling the well. Won't take too many of those to make the folks wbo negotiated the Goodrich acquisition look pretty smart.
2
Posted on 7/25/13 at 8:52 am to islandtiger
quote:
1,000 barrels a day @ $100+ BBL is pretty good return on a $10 to $15 million investment in drilling the well. Won't take too many of those to make the folks wbo negotiated the Goodrich acquisition look pretty smart.
i agree, but that is for one well, not 322K acres, which i assume (could be wrong here) should have many wells currently producing right now.
Posted on 7/25/13 at 9:03 pm to islandtiger
1 day IP rates mean almost nothing. 30 day average rates tell a much better story.
Hopefully these wells have a good decline curve. Will probably be tough for the propant to keep the fractures open for a more ductile formation like this.
Really hope they can lower prices and make these wells work, would be great for LA
Hopefully these wells have a good decline curve. Will probably be tough for the propant to keep the fractures open for a more ductile formation like this.
Really hope they can lower prices and make these wells work, would be great for LA
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