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$11-12 MM wells, drilled one after another, non stop, 24/7. Over 5,0000 of them drilled ever year in the Permian Basin alone, each of them draining an area limited to a few hundred feet diameter, the length of the horizontal lateral. The very best of these wells will only have a 175% rate of return over 12-15 years. 61,000 of the damn things and counting. 

Cook Grayling 1985 Ken Grasham.gif
  Quote Stuff 

“If Exxon, Chevron, Oxy, Diamondback, etc are going to have a programme that they just plough through and execute on, they are less likely to accelerate when prices are high, they are less likely to slow when prices are low — and that translates to Opec being more important,” said Pickering, referring to the oil export cartel led by Saudi Arabia.

US Tight Oil Wells At 25 BOPD .png

About this statistic, you gotta get your mind right, Luke. 

Tight oil at year end 2023 is only 13 years old. This chart is 14 months old; I now suspect the number is still around 50% but the total number of wells is now 54,000. I operated wells that make 12 BOPD and were...75 years old.

About US PDP reserves, and growth from 2010 onward, all related to tight oil, see above and go to Forum Stuff.

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The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.  I may make data related mistakes  occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means.  Don't blame me,  I didn't do it.   

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