Oasis: only "play"is the Williston Basin
- 485,000 net acres
- pending: another 55,000 net acres; to close December 1, 2016 (see deals at sidebar at the right or go direct to this post)
- with acquisition, I believe Oasis is now the #2 operator in the Bakken based on net acreage, surpassing Whiting by just a bit; CLR remains out front by a large margin
- 91% held by production
- 97% operated
- 395 drilling units
- ~ 25 years of drilling activity
- more than 1,300 locations are economic at $40
- 1.55 million boe EUR in area around Watford City (Wild Basin area)
- the pending acquisition includes a fair amount of acreage in the Wild Basin rarea
- this is even more amazing: the 1.55 million boe EUR is new; but the previous EUR was 1.2 million boe; these are incredible EURs
- LOE down to $7.00/boe; was over $10/boe as recently as 2014
- bringing well costs down to $5.2 million; Slickwater wells
- 55,000 acres; a bolt-on acquisition
- bolt-on means that the new acreage abuts producing acreage
- will ad 34 operated drilling units
- will result in a 25% increase in OAS core inventory position
- 2014: 22 days
- 2016: 13 days
- about 80 DUCs right now
- "highly economic" at current strip (~ $3.5 million completion cost)
- ~ 80% of DUCs in core
These curves are simply staggering.
Gathering system: pipeline and CBR:
Expanding takeaway capacity out of the Williston Basin:
- Note: pay particular attention to the "Guernsey." Previously discussed in light of the DAPL.
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