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...

Replies to This Discussion

Permalink Reply by Iris on May 27, 2010 at 11:12

OK Skip, time for kindergarten 101. What is a stripper field?

Permalink Reply by Skip Peel - Mineral Consultant on May 27, 2010 at 12:31

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.

Permalink Reply by Iris on May 30, 2010 at 6:13

Thanks, Skip, interesting...learn something new every month...

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