Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An company owns 100,800 gross acres in the Bakken Shale in the form of one large, contiguous block. They have a 100% working interest on

An company owns 100,800 gross acres in the Bakken Shale in the form of one

large, contiguous block.

They have a 100% working interest on their acreage.

80% of their acreage is expected to be developed.

Wells are expected to be spaced 660 feet apart with a lateral length of 2 miles.

40 wells have already been drilled on the property.

How many remaining wells net does the company have to drill?

Remember there are 640 acres in a square mile.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Real Estate Finance And Investments

Authors: Jeffrey Fisher William B. Brueggeman

17th International Edition

1264892888, 9781264892884

More Books

Students also viewed these Finance questions

Question

List and briefly explain three forms of business ownership.

Answered: 1 week ago

Question

How to Construct a Relative Frequency Histogram

Answered: 1 week ago