These Guys Are Good .... Bakken, North Dakota, USA

For various reasons I seem to follow certain fields more than others. The Brooklyn field is one of those.

There's a faithful group of mineral owners who remind me when one of the Brooklyn field wells comes off the confidential list. The Charleston came off today, but it was not fracked and is on DRL status.

But it gave me an opportunity to check in one of those Brooklyn wells:

• 19361, 408, Barney 1-29H, tested 3/30/11; 17,000 bbls in first 48 days

For the Bakken, its IP was relatively unremarkable. But look at this. The well has produced 62,000 bbls of oil through the end of August. It was tested at the very end of March, so its accumulative total (as of August 31) represented only five months of production. Sixty-two thousand bbls of oil in five months. Sure, the decline rate is horrendous, but get that well paid for (at the wellhead) in the first two years is not bad.

And this is why I say these guys are good:

BAKKEN	5-2011	24	10730	10897	3693	12728	5977	6751
BAKKEN	4-2011	30	8140	7954	3195	11588	0	11588

In the first full month of production they got 8,000 bbls of oil out of this well, and then, the next month, producing only 24 of those days, it produced almost 11,000 bbls of oil. Yup, these guys are good.

Gronfur, in the same field, is going to be just as good. Tested on January 26, 2011, it has produced almost 75,000 bbls of oil through the end of August -- just seven months of production. Remember, folks, a lot of Madison wells produced 100,000 bbls after pumping for 20 years. The Bakken hits those numbers in 18  - 36 months.