For investors: Archived
Legal descriptions of Statoil wells: I can't say for sure, but it's my hunch that Statoil wells with "X" in the legal name, such as ...
29564, SI/NC, Statoil, Skarston 1-12 XE 1H, Banks, no production data,... means that the spacing is a 2560-acre drilling unit, and that the "E" or the "W" suggests which half the horizontal targets in a 2-section x 2-section (a square) drilling unit.
Update, November 17, 2015: the drilling unit is a 2560-acre unit, a 2 x 2, sections 1, 6, 12, 7. The well is sited in section 1. The lateral is a south-running lateral, running through section 1 to near the south line of section 12. It is on the west side of the 1-12 drilling unit, and the west side of the 2560-acre drilling unit. (Incidentally the application suggests that the bottom hole will be in section 7; that has to be an error; the bottom hole will be in section 12.) So, I was wrong, the "E" does not mean the "east" side of the drilling unit.
NEWS
August 14, 2020: Equinor update; pivoting to renewables, SeekingAlpha, August 14, 2020.
November 17, 2015: Statoil will exit Alaskan operations.
October 1, 2013: more bad news for Statoil.
September 22, 2013: is Statoil feeling "anxious" about its situation?
August 19, 2013: sold assets off Norway for huge premium; $2.65 billion; Austria's OMV, the buyer; lots of cash for Statoil to develop projects elsewhere;
April 22, 2013: nice update of Statoil; first full look at Statoil since buying BEXP.
April 19, 2013: first day that STO is listed as the operator of wells coming off the confidential well list. Cool.
December 8, 2011: Statoil to buy BEXP; 92% of BEXP shares have been tendered; offering period has closed.
The Brigham stockholders have tendered 109,400,549 shares of Brigham common stock, .... pursuant to the offer to purchase dated October 28, 2011, which, when added to the 6,249,857 Shares separately purchased by Statoil from Brigham, represents more than 92.6 percent of the outstanding Shares. The subsequent offering period expired at 12:00 midnight, New York City time, at the end of Wednesday, December 7, 2011. Purchaser has accepted for payment, and will promptly pay for, all Shares tendered during the subsequent offering period.September 17, 2011: Statoil to buy BEXP.
August 19, 2011: Partnered with Halliburton to test new "sliding sleeve" technology, RapidFrac.
April 13, 2011: Operational update; includes two new IP records (one in North Dakota, one in Montana).
January 27, 2011: Year-end (2010) update; several records set.
November 1, 2010: Operational update; four more nice wells -- Clifford Bakke, Abelmann, Brad Olson, and the Smith Farm.
September 9, 2010: Operational update; four more nice wells -- Wright, Weisz, Abe Owan, and Sukut.
May 26, 2010: Two more monster wells.
April 25, 2010: BEXP acreage in the Rough Rider.
April 17, 2010
This thread over on another board discusses BEXP wells. From "Larry": This is a list of the older Brigham wells in the Bakken. The first number is the file number, followed by cumulative production through February, 2010, and the third column is the one-month production in February, 2010, updated in the fourth column, as of January, 2014:
17352 20802 479 33K
16840 31081 591 51K
17018 34328 823 87K
16898 38955 467 61K
16173 43804 439 65K
16276 52672 702 77K
16893 55318 654 91K
17550 60327 4377 189K
16978 61709 1014 90K
17090 65812 1608 104K
16321 71569 1433 115K
17165 94207 2070 171K
17481 95825 3069 174K
17513 110056 4051 195K
Whether the top wells are economic or not, it's impossible to say. Depletion allowances, holding the lease, workovers, re-fracking, new technology, going into different formations: there are just too many variables. Regardless, a track record with 50% of one's wells with numbers like this - can't complain. Actually, the wells with 55,000 bbls cumulative have about paid for a $4 million well, and it will produce for a long time; very little cost in continued pumping, and who knows how high the price of oil will go.
April 1, 2010: Two more high initial rate producers: a Sorenson well and the Jack Erickson well.
March 19, 2010: BEXP cancels two permits. When I first saw these permits, their location seemed unusual, so unusual I put them on my "wells to watch" list. They seemed to conflict with existing permits granted to other producers, and sure enough, the BEXP permits were canceled. Something tells me we won't get a press release on these cancellations.
March 15, 2010: Three more high initial rate producers: Jerome Anderson, Papineau Trust, and Kalil.
February 26, 2010: nice editorial update on BEXP
February 24, 2010: Data Points, Press Release
Alger Field, Liffrig 29-20-1H, 2,477 boepd, Three Forks SanishFebruary 1, 2009: Q4, 2009, operational results.
2009 proved reserves: 28 million barrels; replaced 372% of 2009 production
2009 proved reserves: 9 million (of the 28) due to Bakken and TFS play
2009 proved reserves grew 278% in the Bakken and TFS
Finding and development costs: $8.98/boe; all sources of costs: $11.08/boe
Four rigs in ND; anticipate 25.7 net wells in 2010
Anticipate drilling an infill Bakken in Rough Rider in summer, 2010
It's easier just to have you go to the site, rather than repeat it all here. The numbers are pretty impressive. IPs greater than 3,000 and 30 frac stimulation stages.January 26, 2010: BEXP breakthrough technology.
Parallel horizontal wells. Message thread is here.December 14, 2009: click here: huge well just outside the city limits of Williston
This is on the eastern portion of the Rough Rider tract that BEXP has in this area. I can only imagine all the wells that might populate the area immediately around (and possibly inside) Williston city limits. This is the press release for this well: 3,394 boepd initial production; and the first with 32-stage fracture stimulation. This is the company's highest IP in the Williston Basin; they could drill up to 700 more wells in the basin.November 30, 2009: another nice well, Strand 16-9 1H, northwest of Williston
This was a wildcat; 2,264 boepd. The Strand was completed with 26 frac stages and represents Brigham's highest reported 24 hour flow back rate to date of its eight long lateral, multi-stage fracture stimulation completions in the Williston Basin. Press release.November 16, 2009: another nice well, Lee 16-21 1H, northwest of Williston
BEXP announced a 1,544 boepd well; 28-stage fracture stimulation. Press release mentions a third well ready to be completed, the Strand 16-9 1H; and, is also drilling three more wells in the Rough Rider acreage position in Williams County: the State 36-1H 1H; the Williston 25-36 1H; and the Jackson 35-34 1H. The State and the Williston are the fifth and sixth drilling participation agreement wells (with USEG) and complete the initial six well package under the USEG agreement. This has to be very exciting for BEXP and the folks in Williston who might have been worried the oil activity was moving east. These wells remind folks that Williston still has a lot to offer.November 2, 2009: another nice well, BCD Farms, northwest of Williston
BEXP announced a 1,776 boepd well; 28-stage fracture stimulation. Press release mentions two more wells ready to be frac'd and BEXP has added a third rig to their drilling program in Williston. It appears BEXP was not exaggerating when they said they were accelerating their drilling program. If they get a couple more 1,500+ boepd wells, they will be have quite a nice cash flow.October 25, 2009: a fracturing record set.
BEXP announced on October 16, 2009, that its operated Brad Olson 9-16 #1H well produced approximately 2,112 barrels of oil equivalent per day from the Bakken formation during an early 24 hour flow back period. Brigham's Brad Olson 9-16 #1H appears to be the first 28 stage fracture stimulation completed in the Williston Basin and the fifth overall 18+ stage fracture stimulation completed by Brigham in the Williston Basin. This is the "sister" well to BEXP's "Olson" well on the neighboring section. BEXP has much resting on these two wells. Following the success of the Brad Olson well, BEXP increased a new stock offering from 14 million shares to 16 million shares. BEXP partnered with US Energy (USEG) on the Brad Olson well.October 25, 2009: BEXP's September 22, 2009, Analyst/Investor Presentation
On September 22, 2009, provided a special presentation for analysts and investors in Williston, and a field trip to the Olson well and the Brad Olson well west of Williston.Brigham Exploration
Williston, ND 58801 Phone: (701) 875-4700
No comments:
Post a Comment