November 1, 2024
Williston oil full-cycle costs at West Texas Intermediate (WTI) equivalent range from a low of USD $43.38/Bbl for wells with an Initial Productivity (IP) greater than 1800 Bbl/d to a high of USD $196.73/Bbl for wells with an IP of under 300 Bbl/d. Average Operating costs USD $9.73/Bbl while royalties & taxes and overhead are USD $19.66/Bbl. F&D costs range from USD $7.29-$89.88/Bbl and the 15% producer return ranges from USD $6.24-$77.00/Bbl. The assumed WTI differential is USD $0.46/Bbl.
Full-Cycle Cost Curve
Incorrys analysis shows that there is 7,500 MMBbl of oil resource available below USD $50/Bbl and almost 10,000 MMBbl available below USD $60/Bbl. Current production (2023) was 1,215 MBbl/d (444 MMBbl/yr).
Williston Basin Location
Williston basin, home of the Bakken Shale is located in North Dakota and Montana.
Number of Drilling Locations
Incorrys estimates that Williston has almost 31,000 drilling locations with initial productivity above 300 Bbl/d and 34,000 drilling locations with initial productivity below 300 Bbl/d.