Tuesday, July 11, 2017

Third Time Is The Charm -- Ballard Has A Good Well -- July 11, 2017

We can update this well first noted June 7, 2014, the original post with data udpated:

Does Ballard Have A Productive Well North Of Glenburn?

On a completely different note, another reader over at the "Discussion Group" reports that  a local farmer from the Glenburn area says that Ballard Petroleum struck oil north of Glenburn. There is a Ballard wildcat north of Glenburn:
  • 27319, 600, Ballard Petroleum, Fines 24-19, wildcat, north of Glenburn, 19-159-81; Chatfield, Madison pool, t6/14; cum 137K 5/17;
A bit further north there are to more Ballard wildcats:
  • 27703, dry, Ballard Petroleum, Mddaugh 33-23, wildcat, north of Glenburn, 23-160-81,
  • 27704, dry, Ballard Petroleum, Drovdal 13-2, wildcat, north of Glenburn, 2-160-81,
Ballard Petroleum has five permits in North Dakota. The first two permits: two wells drilled in 2012 -- both dry, both Madison wells. [Update: Ballard Petroleum Holdings now has eleven (11) permits.]

Devon Reports Record Rate For STACK Well

From Oil & Gas Journal:
  • southwest Kingfisher County, OK
  • Privott 17H; EUR of more than 2 million boe; IP was 50% oil
  • 10,000-foot lateral (a long lateral); upper Meramec interval
  • rate of 6,000 boe/d
  • record rate for IP for a well in the STACK place (Sooner Trend, Anadarko, Canadian, Kingfisher) 
  • the rate was "facility restrained"
For comparison, see FAQ 9 at this post:
Small Producers Feeling Pressure In The Permian

At $40,000 / acre I always thought the Permian was a high-risk venture for "smaller" operators. I think I posted that but don't recall. Whatever.

Now, over at Chron.com, "small Permian producers feel pinch of $45 oil."
For some small oil companies in West Texas, low crude prices are beginning to sting.

Green Century Resources, a private oil company in Midland, is weighing an investment in a drilling project that appeared profitable a few months ago when crude prices hovered above $50 a barrel. Now, with U.S. prices under the $45-a-barrel mark, the small company may have to hold off on its plans, said James Mayer, founder and chief executive of Green Century.

"If oil holds under $45, that would make a difference to us," Mayer said, adding his company is working to whittle down its projected capital and operating costs.

Several small operators in West Texas told the Houston Chronicle they're face increasing pressure from rising oil field service costs, particularly in hydraulic fracturing, in part because the downturn wiped out some of the service companies and allowed rivals to raise prices. That oil prices are falling now has convinced some to rethink their expansion plans for the year, which were set at a time when oil prices were higher.
More at the link.

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