kfgo studio: 701.237.5948

Listen Live to KFGO

State: N.D. Bakken Well Will Pump Nearly Three Decades

State officials say a typical well drilled in the rich Bakken and Three formations will produce about 540,000 barrels of oil over its 29-year lifespan.

 

<?php echo $row_rsNews['title']; ?>

 

 

 

BISMARCK, N.D. (AP) - State officials say a typical well drilled in the rich Bakken and Three formations will produce about 540,000 barrels of oil over its 29-year lifespan.
 
The State Department of Mineral Resources says a horizontal well in the formations cost an average of $7.9 million to drill and complete.
 
The agency says each Bakken and Three Forks well will generate more than $20 million in net profit over its lifetime, and pay more than $4.5 million in taxes.
 
The average well also will pay about $7.5 million in royalties to its mineral owners.

(KFGO file photo)

 

AP