Wednesday, February 6, 2013

Random Data Points From The Whiting Corporate Presentation, February, 2013

Some random notes from Whiting's February 5, 2013, corporation presentation. Many of these random comments are simply from the slides and taken out of context. Some numbers rounded.

Again, this presentation is for my benefit to help me understand the Bakken and to keep track of it. I may have misunderstood some slides and there may be typographical errors.

If interested in this data, one should access the original source.

A photograph of rig at Kannianen 22-32XH, 3Q12, flowing 3,462 boepd on September 6, 2012, Sanish field, Mountrail, North Dakota.

Q312: production: 80 mboepd; almost 90% oil

Rocky Mountains, 60 mboepd; Permian, 10 mboepd; mid-continent, 8 mboepd

345 million boe proved reserves (12/31/11)
  • almost 50% in Rocky Mountains prospect
  • just less than 40% in the Permian
Drilling locations, future:
  • 640 net, northern Rockies
  • 889 net, central Rockies
  • 307 net, Permian
  • $850 million -- northern Rockies
  • $225 million -- EOR
  • $100 million -- Permian
Lease areas in the Williston Basin
  • Sanish: 83K (MB, TF) -- Sanish and Parshall; sweet spot, northern ops
  • Pronghorn: 130K (Pronghorn Sand) -- southern ops; mostly southerly Whiting area in ND
  • Lewis & Clark: 138K (TF) -- northwest of Pronghorn; very interesting
  • Hidden Bench: 29K (MB/TF) -- north of Lewis & Clark
  • Tarpon: 6K (MB/TF) -- very small area; a sweet spot
  • Starbuck: 92K (MB/TF) -- Montana, west of Williston;
  • Missouri Breaks: 66K (MB/TF) Montana, Richland county; west of Hidden Bench
  • Cassandra: 14K (MB/TF) -- Williams County, Ray corridor, I believe
  • Big Island: 122K (multiple objectives)
  • Other: 34K  
BigIsland: perhaps the most interesting play for me to watch -- vertical Red River wells; currently seven (7)discovery wells;
  • Ross 13-2, 306 boepd
  • Stecker 23-3, 283 boepd
  • Rieckhoff 44-22, 480 boepd
Production profiles provided:
MB: EUR, 950K boe;
MB: EUR, 450K boe
TF: EUR, 400 mboe

An interesting graphic of 12-month average production by operator for Bakken and TF wells drilled since January 2009, for operators with 10 wells or greater:

Interesting graphic of MB/TF vs Pronghorn in L&C, Hidden Bench: the average 30-, 60-, and 90-day rates for the Pronghorn exceed the Sanish -- Bakken & Three Forks

Natural gas processing plant -- Robinson Lake
  • current wells connected: 635
  • estimated ultimate wells connected: 1,538
  • current volume: 64 mmcfd
  • planned capacity: 90 mmcfd processing, 72 mmcfd compression, 310 mgpd fractionator
  • estimated cash flow per year, 2013: $40 million
Natural gas processing plant -- Belfield
  • wells connected: 61
  • ultimate wells connected: 310
  • current colume: 13 mmcfd
  • planned capacity: 35 mmcfd processing, 27 mmcfd compression 
  • estimated cash flow per year, 2013: $20 million


  1. I would be curious about slide 11 which I have looked at previously. We have interest in the Ellsworth Field which is in Whiting's Hidden Bench area. I am assuming the side slice the view shows is to show the depth of potential oil--and for Hidden Bench it looks like they have a lot of depth in the Middle Bakken and 3 Forks area--but I am wondering what the dark green section is where there appears to be no drilling? We are keeping our fingers crossed--but Hess's production in Ellsworth isn't outstanding at this point--around 4-5,000 bopm.


    1. I'll let the geologists explain why the lower Bakken (the thick dark green zone you noted) is not productive. The upper and lower Bakken are the source rock for the middle Bakken that is the reservoir for oil in the middle Bakken. It is being reported that at least one operator has tried to target the Upper Bakken. I don't know where that stands, but there certainly has not been any press release suggesting it has been successful, though I could have missed it.