Friday, April 20, 2018

Random Update Of Statoil Russel Well In Painted Woods -- April 20, 2018

The well:
  • 19930, two frack/IP (see below), Statoil, Russell 10-3 1H, Painted Woods, cum 286K 2/18;
    • first frack: 5/22/11 -- 2,670, 36 stages; 4 million lbs; large/small ceramic
    • second frack: 8/11/17 -- 82, 1.9 million lbs, all mesh
For newbies: this is an important data point/random well update. The Bakken is now in the manufacturing phase. Bakken wells:
  • will be drilled
    • some will go immediately into production
    • some will be fracked/completed later (DUCs) -- within two years
  • once completed, Bakken wells will:
    • have pumps installed
    • undergo work-overs (think roto-rooter)
    • undergo mini-re-fracks
    • be re-fracked: standard re-fracks; high-intensity re-fracks
    • taken off-line while neighboring wells are fracked/re-fracked
    • come back off -line once work on neighboring wells is completed
    • be remotely "managed" for production
  • will produce for 35 years (source: NDIC) 
  • with "current" EURs of --
    • less than 500,000 bbls: poor wells
    • 500,001 - 750,000 bbls: "okay" wells for those with low expectations
    • 750,001 - 1,000,000 bbls: expectations for Bakken wells on the fringe
    • 1,000,001 -- 1,500,000: expectations for Bakken wells inside the fringe
    • > 1.5 million bbls: currently not much said about EURs greater than 1.5 million bbls ...
#19930 is a good example of a fairly mediocre well simply undergoing a very small re-frack -- few stages (it was a long lateral) and very little proppant and it was all mesh, relatively inexpensive to re-accomplish. By the way, this well is the only one in this drilling unit and is located on the fringe.

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