STRIPPER FIELD DESIGNATIONS - COMMISSIONER'S PUBLIC HEARING
Interesting comparison of stripper fields. Check out the Exhibit A paying attention to the number of producing wells in each field. Caddo Pine Island is still the King going on one hundred years of production. Amazing.
http://dnr.louisiana.gov/cons/CONSEREN/hearings/2010/06JUN/10-65100...
http://dnr.louisiana.gov/cons/CONSEREN/hearings/2010/06JUN/10-65100...
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on
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Hi, Tiger. It is a field that requires enhanced recovery (has lost it's natural pressure drive) and is in decline. Depletion can take a long time. There are wells in the Caddo Pine Island Field that have been producing continuously since 1915. Some companies have 500 wells so if each makes 2 barrels a month and crude is $90/barrel that would be gross revenue of $90,000/month. Imagine if each well averages one barrel a week.
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