Wednesday, October 19, 2011

Six (6) New Permits -- 0/7 Wells Completed -- The Bakken, North Dakota, USA

Daily activity report, October 19, 2011 --

Operators: Hess (3), Zavanna, BEXP, BR

Fields: Ellsworth, Glass Bluff, Painted Woods, Ray, Haystack Butte.

Eight wells released from "tight hole" status --- and not one of them completed. 0/8 - one, though, was a cancelled permit, so I suppose it doesn't count. But still, 0/7 wells completed.

A producing well was completed, and it was a good one:

  • 20017, 2,502, Newfield, Hoffman 150-98-18-19-1H, Bakken

There are some new trends appearing:

  • Hess is definitely getting much, much more active -- look at the number of permits issued to Hess in past week or so
  • Companies are reporting better IPs; no question about it; no doubt due to increased number of frac stages
  • Newfield has been particularly noteworthy
  • The fracking backlog is not getting better; worse, if anything -- today, 7 wells released from "tight hole" status and not one of them completed. Not one.
  • For the past several days, NDIC has not reported wells coming off "confidential list." Instead, wells are being released from "tight status." I've never blogged about the difference between "confidential" and "tight hole" but for all practical purposes, they were the same; it is an administration technicality, for lack of better phrase right now
  • Williams and McKenzie counties, particularly Williams, are surprising some folks with their good wells; McKenzie, is going to be really, really hot next summer
I will be disappointed if analysts don't pursue the issue of fracking backlog on the conference calls. 

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