If Occidental can double yield from 10% to 20% like Conoco test wells demonstrated . . . Did they necessarily overpay for Anadarko ?

[Jabbar + 465]

Better yet . . . if a 20% yield becomes the norm for prime shale properties . .   does that end the majors plan to pick up distressed shale properties at bargain prices ?  

Edited November 21, 2019 by Jabbar

[Gerry Maddoux + 3,627]

Jabber, 20% recovery is now pretty much the industry norm in the major basins: Bakken, Delaware, Permian, SCOOP/STACK. 

But keep in mind, these are in the sweet spots. 

I don't think it's going to make much difference about bankruptcies, etc. 

It may well drop the price of a barrel of crude oil.

[Jabbar + 465]

16 hours ago, Gerry Maddoux said:

Jabber, 20% recovery is now pretty much the industry norm in the major basins: Bakken, Delaware, Permian, SCOOP/STACK. 

It may well drop the price of a barrel of crude oil.

Respectively disagree, Strongly disagree.

You might be the only one that knows this.  Conoco said Tuesday their results on the few test wells were leading in the industry.

Earlier this year Chevron CEO said the shale industry best was 9% to 10%.  The Occidental CEO said the same.  They both said they thought advancements could eventuslly get up onto the high teens.  

When I brought this up two months ago the high teens were panned. 

Hate to disagree, you are way more knowledgeable than I . . . bit I believe you are wrong on this one.  

I'd bet my house on that.  Wanna bet ?

Check your facts.

As for number of wells per section.  I know many have been trying to accomplish 20 wells per section.  Those I have heard about have failed.  Many on this site have stated the most possible is 6.  Conoco's success with 12 to 16 sounds impressive.  What say you?

While I have you can I ask a question.  I heard all the excitement over the Scoop/Stack in OK has faded with many leaving the basin. Have you seen the same ?

 

Thanks

 

Edited November 22, 2019 by Jabbar