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Started By
Message
re: Goodrich grabs big stake in Tuscaloosa formation
Posted on 7/25/13 at 8:52 am to islandtiger
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.
1
Posted on 7/25/13 at 11:05 am to tiddlesmcdiddles
The acreage from Devon has only 7 wells producing only 750bbls a day. So no, there aren't many wells producing yet and the ones that are producing in the Devon acreage are performing poorly.
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