Links describing various aspects of trends in the gas development process, including supply, exploration, cost, failures, etc.
- - 1403 - [NA] - Energy Policy Forum - Spotting Trends, Not Following, EPF (Energy Policy Forum) - "Bakken Shale: Too Many Wells, Too Much Expense"
- "The number of Bakken shale wells needed to produce a million barrels a day is staggering when you compare it to a typical OPEC well. If you’ve ever wondered why shales are struggling to compete with OPEC, this may give you a clue.
According to the IEA, International Energy Administration, it takes approximately 2500 Bakken shale wells per year to produce 1 million barrels of crude per day whereas only 60 Iraqi wells are needed to produce an equal amount.
Bakken shale wells are land consumptive and expensive. They also decline rapidly. In short, drilling for tight oil faces a number of headwinds not least of which is low crude prices."