Monday, May 18, 2015

A Reader Asks Why Newfield Appears To Have Taken Three Wells Off-Line -- May 18, 2015

Over at the Discussion Group a reader asks a question about Newfield's three (3) wells, #28765 - 28767: the wells were completed in initial runs in December and Janaury, but then they appear to have been taken out of production in February. Does anyone know why?

There may be specific reasons peculiar to these three wells why Newfield may have taken them out of production, but the three likely reasons:
  • hold back production until prices recover
  • required to choke back due to NDIC flaring rules
  • required to bring in equipment to "condition" the oil before it can be shipped by rail
My money would be reason #1 -- holding back production until prices recover. It's possible there are operational reasons, so we'll see.

Production profiles:

28765, 2,190, Newfield, Sand Creek Federal 153-96-21-28-3H, t1/15; cum 29K 3/15:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

28766, 1,562, Newfield, Sand Creek Federal 153-96-21-28-10h, t1/15; cum 25K 3/15:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

28767, 970, Newfield, Sand Creek Federal 153-96-21-28-2H, t1/15; cum 29K 3/15:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

 Note that production for all three wells was identical in the month of March, 2015: 12 barrels of oil from each well. This is a great example of how operators can control very precisely how much oil they will produce from each well.

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