Wednesday, January 25, 2017

EOG With Thirteen (13) New Permits, All In Same Section -- January 25, 2017


May 29, 2017: due to poor market conditions, SM Energy has postponed its planned sale of Divide County assets.

Original Post

Note: SM Energy transferred 92 wells to White Rock; earlier SM Energy had sold some acreage to Oasis; elsewhere a note that SM Energy was selling assets in Eagle Ford; SM Energy with recent interest in Permian -- not sure of the specifics, but SM Energy seems to be quite active in consolidating / re-focusing?  I don't follow closely enough to know details. 

From a January 10, 2017, SM Energy press release:
DENVER, Jan. 10, 2017 /PRNewswire/ -- SM Energy Company today announced that it has engaged Tudor, Pickering, Holt & Co. to run a formal bid process for sale of the Company's Divide County area assets in the Williston Basin.  Assuming an acceptable offer is received, the Company expects to close the sale transaction around mid-year of 2017.  Associated December 2016 production for the Divide County assets was 10,700 Boe/d.  
President and Chief Executive Officer Jay Ottoson comments: "This sale process continues our drive to generate differential shareholder value through concentrating our capital spending on top tier asset development. 
Over the next few years, we intend to focus on generating significant high margin production growth from our operated acreage positions in the Midland Basin and Eagle Ford.  We expect that the sale proceeds from this planned exit of the Williston Basin and from the pending sale of our non-operated Eagle Ford assets will allow us to fully fund our drilling program, while providing us with significant liquidity and the ability to reduce our outstanding debt."
SM Energy has a brand new, nice facility north of Williston. I believe I recall a human interest story on SM Energy suggesting they planned to stay in the Bakken for the "long term." That might have been two or three years ago. 


Active rigs:

Active Rigs3848157187190

Wells coming off confidential list Thursday:
  • 31687, 2,002, Whiting, P Bibler 154-99-3-5-29-3H,  Epping, t8/16; cum 96K 11/16; spud, April 30, 2016; TD, May 10, 2016;
  • 32750, drl, Enerplus, Everest 148-95-12D-01H, Eagle Nest, no production data,
  • 32767, SI/NC, Petroshale, Petroshale US 8H, Antelope, no production data,
Thirteen (13) new permits:
  • Operator: EOG
  • Field: Spotted Horn (McKenzie)
  • Comments: SWSE 31-150-94 (6); SESE 31-150-94 (7); SWSE 31-150-94; see graphic below.
Four producing wells (DUCs) reported as completed:
  • 31308, 510, EOG, Wayzetta 96-3019H, Parshall, t11/16; cum 7K after 27 days;
  • 31596, 287, XTO, Johnson 31X-6CXD, Siverston, t11/16; cum --
  • 31597, 122, XTO, Johnson 31X-6D, Siverston, t11/16; cum --
  • 31609, 156, XTO, Johnson 31X-6G, Siverston, t11/16; cum --
Operator transfer:
  • 92 wells
  • from: SM Energy
  • to: White Rock Oil & Gas, LLC (see Bakken operators; entry into Bakken via MDU (Fidelity) about a year or so ago;
  • location: about 2/3rds in McKenzie County; 1/3rd in Billings County; toward the south of the main Bakken activity
  • oldest permit: 05214, a Madison well,
  • most recent permit: 15920, a Bakken well, 
  • a mixture of Madison, Duperow, Bakken wells; about a 1/3rd Madison; about 2/3rds, Bakken, it appears (I only checked a dozen to get a feeling)
Expired permits: a long list; about 20 permits;


31687, see above, Whiting, P Bibler 154-99-3-5-29-3H,  Epping:

Oil RunsMCF Sold



April 14, 2017: the thirteen well locations are now identified on the NDIC map server, but all 13 permits are PNS (permit now suspended):
33306, PNS, EOG,
33307, PNS, EOG,
33308, PNS, EOG,
33309, PNS, EOG,
33310, PNS, EOG,
33298, PNS, EOG,
33299, PNS, EOG,
33300, PNS, EOG,
33301, PNS, EOG,
33302, PNS, EOG,
33303, PNS, EOG,
33304, PNS, EOG,
33305, PNS, EOG,

Original Post
Proposed location for 13 more EOG wells (see "new permits") above:

19341, 645, EOG, Bear Den 05-31H, Spotted Horn, 15 stages, 2.1 million lbs, t10/11; cum 161K 11/16; [Note -- short lateral; equivalent to 30 stages had this been a long lateral]

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