Saturday, August 8, 2015

STACK

 General


Updates

January 6, 2017: natural gas trends in the STACK 

December 13, 2016: CLR reports a record well in the STACK -- but it doesn't compare with record Bakken well. And the STACK well was only 45% liquids; Bakken wells are 94% oil.

September 7, 2016: Devon sees tighter spacing in the STACK. Compare with Bakken. 

August 3, 2016: Newfield increases CAPEX to take advantage of STACK; Newfield sells all Texas assets to focus on STACK; Newfield average EUR curve in the STACK increased by 15% to 1.1 million boe.  

July 25, 2016: CLR reports its record well in the Meramac, STACK

July 19, 2016: Devon reports its record well in the Meramac, Stack.

June 20, 2016: STACK at about $15,000/mineral acre.

June 10, 2016: RBN Energy update on STACK.

June 6, 2016: Harold Hamm making money on $45 oil in STACK

February 25, 2016: buildout continues -- RBN Energy.

February 19, 2016: still attracting new investors

December 7, 2015: Devon to buy 80,000 STACK acres for $1.9 billion.

November 19, 2015: Newfield, STACK, SCOOP and comparison with the Bakken, Zeits
 
Original Post
 
CLR's stealth play is no longer stealth. CLR added STACK to its portfolio of world-class assets announced at its 2Q15 earnings/conference call.
  • defined as base of the Woodford to the top of Meramac, approximately 700 to 1,200 feet thick at depths of 9,000 to 17,000 feet (similar to depths of the Bakken to the Red River wells in North Dakota)
  • first STACK well: impressive flow rate of 2,076 boepd
  • 136,400 net acres; 60% held-by-production
From Natural Gas Intel:
The STACK refers to the stacked oil producing formations in Northern Oklahoma, but the exact definition of the play depends on which company you ask. Newfield Exploration (NFX) coined the term STACK, and announced the play to the world on its 3Q13 earnings conference call.
NFX defines the STACK as being the combination of the Meramec & Woodford shales in the northern part of the Cana-Woodford Shale fairway, covering parts of Blaine, Canadian, Custer, Dewey, Kingfisher, and Logan Counties, Oklahoma.
However, Todd Dutton, President of Longfellow Energy, remarked to NGI in March 2014 that he believes the STACK play extends farther north into Major, Garfield, Logan, and Payne Counties, and includes that portion of the Mississippian Lime as well. American Energy Partners calls its Woodford Shale/Mississippi Lime acreage in Oklahoma the “CNOW play,” while Devon Energy simply calls this area the Mississippian-Woodford trend.
And more from the same link:
But that is not to say what the industry has called the Mississippian Lime, which straddles the Oklahoma/Kansas border, and the STACK formations are one in the same. According to Dutton, there are key differences between the two areas.
Both the Mississippian Lime and Woodford Shale intervals are thicker in the STACK, and the portion of the Miss Lime within the STACK tends to have a higher oil saturation, with less produced water. Moreover, the Woodford is a primary producing formation in the STACK, but is more of a secondary contributor within the Mississippian Lime.
NFX noted on its 3Q14 earnings conference call in late October 2014 that even at WTI oil prices in the low $80s, the STACK still achieves a 30%-50% rate of return on D&C costs of $10 million per well. The company had delineated roughly 2/3rds of its 165.000 net acreage position at the time it reported its 3Q14 results.

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