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ConocoPhillips
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2016 Analyst Day
| Ryan Lance; Don Wallette; Al Hirshberg; Matt Fox | Page 52 of 11 |
November 24, 2024
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Bakken: Increasing EUR While Driving Down Costs • ~620 M net acres; 0.7 BBOE resource <$35/BBL average CoS • Optimizing recovery through improved completion design • Pilot program confirmed spacing and infill potential of Middle Three Forks • Reduced completed well costs by ~45% 2016 vs. 2014 Middle Bakken 2014-2015 Completion Optimization 0 100 200 300 0 100 200 300 400 Cumulative Oil (MBO) Days Online 40% INCREASE 2011-2013 Design 2014-2015 Design 2016-2017 Completion Optimization Provides Encouraging Results in Middle Bakken Cumulative Production (MBOE) Productivity Index (BOED/Delta psi) Lowest Well Cost/BOE 1 Competitors 2 Well Cost ($/BOE) 2014-2015 Design 2011-2013 Design 2016-2017 Design 1