Sunday, August 11, 2013

First Full Month Production From This QEP Grail Well Not Yet Reported; Still On Confidential; Better Get A Cup Of Coffee: This Is A Long Post

This should be a fun well to watch come off the confidential list; it should come off the confidential list on August 11, 2013 -- hey, that's this weekend. We will see tomorrow (Monday).

24827, conf, QEP, Hemi 2-27-34BH, Grail:

DateOil RunsMCF Sold
6-2013526399090

But it gets better. I suggest that readers over the age of 65 with a heart condition should be sitting down:

24826, conf, QEP, Hemi 1-27-34BH, Grail:

DateOil RunsMCF Sold
6-20134729012506


These two wells are on the same pad. There is a third older well on the pad:

19104, 1,203, QEP, Henderson 16-34/27H, t5/11; a Three Forks well, cum 215K 6/13;

The initial Three Forks zone to be targeted was set at 9 feet thick

Now it gets really, really interesting:

19104, the Henderson well, was taken off-line for the past four months, but is back on line now; it was taken off-line, I assume, while the other two wells were being fracked.

When it came back on line, look at what it produced in 6 days: 11,183 barrels. Either it was re-fracked (?) or fracking the other two wells on the same pad made a huge difference. [Later: Don points out that it's possible that the wells were placed on a pipeline and the chokes were wide open; or similarly, the tanks on the pad would have been empty after four months of being off-line and they could have opened the choke to fill the tanks. Also note the significant change in the natural gas to oil ratio.]

11,183 bbls in 6 days translates to 56,000 bbls in 30 days:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN6-2013611183110530218621860
BAKKEN5-20130000000
BAKKEN4-20130000000
BAKKEN3-20130000000
BAKKEN2-20132802280000
BAKKEN1-201331437343711584434543450
BAKKEN12-201231567757172044615161510
BAKKEN11-201230618760251977623562350
BAKKEN10-201231565956571830475847580
BAKKEN9-2012305501561918676553650350
BAKKEN8-2012316088597419376688660880
BAKKEN7-201231637664362097757662761300
BAKKEN6-20122862226262198968856435450
BAKKEN5-2012296787690521797305727530
BAKKEN4-201229757875542439700870080
BAKKEN3-20129239921311007237023700
BAKKEN2-201228713473982536723311336100
BAKKEN1-201226769578892576989498940
BAKKEN12-2011311156311252417816532165320
BAKKEN11-201127102861099336311285712557300
BAKKEN10-2011249663899431971123785872650
BAKKEN9-201172003312670722159651250
BAKKEN8-201131129111270946731580414894910
BAKKEN7-2011311456913851656119215192150
BAKKEN6-20112011528120174658151341507955
BAKKEN5-20113022168215201358126896255451351
BAKKEN4-2011281517715790606519567158843683
BAKKEN3-201121160291503899461877817842936

Prior to being taken off-line, for whatever reason, it was producing "only" 5,000 bbls/month.

And, if you have read this far, one more tidbit. Note: this well was taken off-line for four months. I forget, but a company, I think it was Triangle Petroleum, just mentioned that it can leave wells on-line while simultaneously fracking wells on the same pad. Not that it makes much difference, I suppose, when a well will be producing for 35 years in the Bakken, for individual mineral owners it has to be nice when a well is not taken off-line for several months.

This, obviously, has a number of story lines. Maybe we will know more tomorrow.

There are four other completed QEP wells in this section.

Memo to self: go back to the file report and note the QEP discussion about commingling; should be posted.

3 comments:

  1. As a minerals owner, the only issue is this- Company does not tell you when they pull a well off-line. In the same boat now with a Slawson well. Not a problem when they are on an eco-pad.
    Will pay off eventually. Especially when one compares oil price 4 months ago to now.

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    Replies
    1. Yes, I agree. That's what I tried to say, but it sure came out "crappy." I sure have a habit of writing badly. (I suppose the other problem is getting your spouse to believe you when you tell her no royalty check this month. LOL.)

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  2. fortunate to not have depend on just one, but yeah, it's hard to budget when you lose a third of your income. Again, bonus will come when all 6 wells come on line. Maybe a nice Christmas bonus

    ReplyDelete