Ever wondered why we might have had a low WI on this well? Its not so much about getting a large amount of oil but what we can learn from this drill. As many people have said its a formation that has been previously untested and no they have an better perspective so better informed decisions can be made. Atleast you learnt something new today to add to your wealth of knowledge in the O&G sector.
The Mississipian formation is characterised by shallow, low-cost wells that deliver reasonably impressive, primarily liquid production rates. It has been described as an incredibly varied, complex carbonate reservoir with comparatively high porosities and, owing to its Woodford Shale source rock, ample stacked-pay potential.
Compared to the Bakken, where wells can cost upwards of $11 million to drill and frac, Mississippi Lime wells rarely exceed $3.5 million from spud to completion. For Oklahoma operators, Mississippian wells also represent quite a hometown bargain, compared to the $9.5 million to $10 million it costs to drill an average Cana Woodford well to the southwest, although the latter's typical production rates also are appreciably higher.
This is a significant well not because of the bopd it will provide for us. It's because it proves there is oil in the Mississippian, a formation previously untested in this area. This is why the RNS has been produced. If you bother to read previous RNS's you will know this. It means it opens up a much larger play which NTOG will have a hand in!
dick -the blank pages as you like to call them are there for a reason - they match the puny results from ntog
I have never seen a board with so much garbage discussed with loads of never ending drivel about a share that keeps disappointing - see I like to get to the point and not type tons of words that are just an attempt to hide the feeble results - how anyone can write so much about so little at ntog is amazing in fact quite incredible
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