May 9, 2014: 1Q14 earnings for Crescent Point.
April 18, 2014: The Torquay in Manitoba. But the presentation includes the Torquay (Three Forks) across Saskatchewan and Manitoba, as well as some information on corresponding Three Forks in northern North Dakota.
April 14, 2014: article in WSJ on Crescent Point operational update in the Torquay. Some data points:
- Flat Lake area in Canada
- one-mile-long laterals
- EURs of 275,000 bbls
- $3.35 million capital cost/well
- the wells generate a return of approximately 300% and payouts of approximately seven months
Eventually Divide County is going to see this, maybe Burke County in North Dakota. Look at these Crescent Point Energy wells. I.N.C.R.E.D.I.B.L.E. Payback in seven months. Finding and development cost of $12/boe. Wells costing less than $4 million.
Berry Petroleum message board is reporting:
CPG in the Q4CC said they are developing the Three Forks in Canada just across from ND with very high rates of return with their cemented liners. (Much less than 1 year payouts).CPG: Crescent Point Energy. From Fly On The Wall:
They also said that they were planning to water flood this play in the same that they are water flooding their core Bakken play where EURS are increased by 50% over primary.
Crescent Point Energy announced a significant Torquay discovery in southeast Saskatchewan. Over the past 12 months, Crescent Point has delineated a Torquay discovery in its core Flat Lake area of southeast Saskatchewan.
This discovery is an extension of the Company's Three Forks resource play in North Dakota.
Crescent Point has more than 220 net sections of core-area Torquay land and 400 low-risk Torquay drilling locations on the Canadian side of the border.
To date, the company has drilled 36 horizontal wells targeting the Torquay Formation in its core Flat Lake area in Canada, growing net production from zero to approximately 5,100 boe/d in just 12 months. Crescent Point has identified 400 low-risk, high rate of return development drilling locations on these lands.
In 2013, the company added proved plus probable reserves of 11.2 mmboe at Flat Lake in the Torquay and Bakken Formations combined.
Finding and development costs were $11.46 per boe, excluding changes in future development capital, which represents a recycle ratio of 6.4 times per proved plus probable boe for this area.
At year-end 2013, the Company's independent reserve engineers booked Estimated Ultimate Recoveries, or EURs, on producing Torquay wells as high as 275,000 bbls per mile-long well.
The company's internal 275,000 bbl mile-long type well, which has a $3.35 million capital cost, generates rates of return of approximately 300% and payouts of approximately seven months. In 2014, Crescent Point expects to spend approximately $200M of its 2014 budget in Flat Lake, including drilling approximately 48 net wells. Crescent Point's total capital expenditures budget for 2014 remains unchanged at $1.75B.
Detroit's 133-year snowfall record falls. And not by a small amount -- double the average snowfall.
Wet snow falling late Monday night into tax deadline day Tuesday shattered Detroit's long-standing seasonal snowfall record.
As of early Tuesday morning, a total of 94.8 inches of snow had been measured in the 2013-14 season at Detroit's Metro Airport, topping the previous record snowiest season, 93.6 inches set in 1880-81.
This is more than double their average seasonal snowfall of 44.1 inches.And if the Kennedy clan can't get to Detroit before the snow melts, they can fly in on their personal jet to see the snowstorm predicted the eastern Dakotas and into northern Minnesota, Brainerd, Duluth, and points east.
And it's not just snow: cold records are being set. KDLT is reporting: Sioux Falls and Aberdeen (SD) see all-time record cold temperatures --
The National Weather Service reports that both Sioux Falls and Aberdeen set record-low temperatures for April 15. The temperature dropped to 11 degrees in Sioux Falls, breaking the city's 1962 record of 19 degrees. Aberdeen saw 8 degrees, breaking the city's 1962 record of 16 degrees.