The Origins of Oil and Gas Exploration

When a play first takes off, for example, the Bakken up in North Dakota, everyone ran out and automatically leased land. And of course, as I say, most of these plays, once you make a discovery, starts out like a gold rush. Once they have their acreage positions, now on a oil and gas lease, usually in that lease, I have about three years to drill a well on it. Most of these wells last 15 to 25 years.