Williston Oil Full Cycle Costs

November 1, 2024

Williston (home of the Bakken Shale) oil full cycle costs at West Texas Intermediate (WTI) equivalent.

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

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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

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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.