"IPs Don't Mean Anything"

I have to chuckle. I don't know how many times I have read on other sites that "IPs don't matter."

Today, EOG reported that Wazyetta 102-02H, the Parshall field, #18301, had an initial production (IP) of 68 barrels of oil per day. I wonder if those who have mineral rights associated with this well agree that IPs don't matter.

There are at least four EOG wells within half a mile of this well, with IPs in red:

17028, 2,207, Wayzetta 14-02H, Lot 4 2-153-90
17078, 1,706, Austin 25-35H, SESE 35-154-90
17281, 1,797, Wayzetta 13-01H, Lot 4 1-153-90
18301, 68, Wayzetta 102-02H, Lot 2 2-153-90 (reported today)

Different formation? Was this a Three Forks Sanish? Was this an exploratory well of some sort to be turned into a saltwater disposal well? Note the "102" designation. It's been reported to be a TFS well. EOG has opined that they don't expect TFS to be particularly productive in the Parshall, and there is also a possibility that the driller missed the target -- these are narrow formations.

Regardless, I still think IPs have some relevance. As Mark Twain used to say, "All things being equal, I would rather have a well with an IP of 5,133 bopd rather than zero (0) bopd."


No Milk Today, Herman's Hermits -- looks like no oil today, either, for Wayzetta 102-02H -- "the end of my hopes, the end of all my dreams"