700 barrels per day. 300 wells. 210,000 barrels per day from all wells.
American consumption: 20,000,000 barrels per day. Bakken production: 1.05%
It’s a start, but there is a long way to go.
200,000 x $90 dollars a barrel would make soem folks in that area real rich, there would be plenty of jobs and lots of new construction, so the amount of oil is a small part of the equation. You point AND mine is that drilling in 20 places and getting 1.05% at each location would help in our oil needs AND create some great jobs. There might even be some tax revnues from all this captialism.
Pop it up to 3000 wells and it’s a slice of pie.
1% can make a decisive difference in price, depending on the slope of the supply curve.
American consumption: 20,000,000 barrels per day. Bakken production: 1.05%
It’s a start, but there is a long way to go.
300 is not a lot of wells for a major oil field. Why did you choose such a low number?