Can anyone offer insight-- I know each well is unique but does anyone have a rough estimate or ballpark figure for when a horizontal well in Martin County would transition from BPO to APO status?
TIA!
Depends heavily on the operator (i.e. CAPEX). At > $75 oil prices, I would say a year or less.
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NMoilboy, thanks for the input! Operator was Parsley (now of course Pioneer). The wells began producing early 2020. I took total production BBL x a VERY conservative $50/barrel and when I run the numbers I’m getting- $49 million, $10 million, $20 million and $40 million but was told the wells were “most likely still in BPO status” which left me scratching my head a bit.
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