Sunday, November 17, 2013

Random Example Of Increased EOG Activity In The Bakken

Early in the Bakken boom, EOG quickly drilled short laterals throughout the Parshall area.

And then EOG was fairly quiet in the Parshall area.

About the time things quieted down in the Parshall, EOG became very active in Eagle Ford. In fact, it was about this time that stories were coming out of south Texas that a new tight oil play had been discovered.

In their 2Q13 earnings call, EOG mentioned they were achieving 100% internal rate of return on their Eagle Ford wells and close to the same in the Bakken. Between their 2Q13 and 3Q13 earnings calls, it was noted that EOG had changed their completion techniques: a) a huge number of frack stages, upwards of 60; and, a huge amount of sand (all sand, no ceramics), upwards of 12 million pounds of sand.

in the 3Q13 earnings call EOG mentioned they were now achieving 100% rate of return on their Bakken wells (as well as their Eagle Ford wells) and they would be increasing activity in the Bakken.

For the longest time, EOG has had one short lateral/section in the area of the Parshall oil field. Now, we are starting to see increased activity by EOG in the Parshall area. Note:

Where there had been one short lateral in each section, we now see several two-well pads.

In the graphic above:
  • 17463, 825, EOG, Van Hook 3-25H, Parshall, t7/09; cum 343K 9/13;
  • 17522, 843, EOG, Parshall 9-30H, Parshall, t11/08; cum 285K 9/13; 
  • 17613, 690, EOG, Van Hook 2-24H, Van Hook, t7/09; cum 437K 9/13; 
The other six wells are on confidential status, one with a rig on site. 

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