Just Too Much Work To Be Done In The Bakken -- October 6, 2019

Going through well after well after well -- the old, old, first generation wells drilled in the early days of the Bakken boom (permits of the 16XXX and 17XXX series) -- and then the newest wells being drilled now, and then looking at recent wells affected by the "halo effect," it brings home how much work the oil companies in North Dakota have yet to do:

• prioritize the older wells for re-fracks; re-work;
• find wells best suited for the "halo effect";
• drill new development wells; put wells in known Tier 1 areas; in-fill wells
• drill new wells on the periphery of the Tier 1 areas; expand the Tier 1 areas; gradually move into Tier 2
• start advancing the first bench of the Three Forks; only one operator has been doing the bulk of this, CLR
• manage flaring issues
• looking for new acquisitions
• looking to sell non-core assets

I was reminded of that by looking at another non-descript, but incredibly typical well in the Bakken.

Back in 2017, I wrote:

• 17079 -- CLR, a nice well; petering out

So, checking toay, to see how this well was going on, let's look at the well from about that time -- 2017 and going forward:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2019	31	1948	2096	853	2314	1231	664
BAKKEN	7-2019	31	2160	2418	1077	2532	1164	949
BAKKEN	6-2019	30	2215	2032	1271	2593	1377	811
BAKKEN	5-2019	26	1792	1975	1053	1953	682	940
BAKKEN	4-2019	30	2351	2274	1642	2394	518	1471
BAKKEN	3-2019	14	1925	1594	1340	1237	542	519
BAKKEN	2-2019	0	0	0	0	0	0	0
BAKKEN	1-2019	0	0	231	0	0	0	0
BAKKEN	12-2018	0	0	0	0	0	0	0
BAKKEN	11-2018	14	1350	1407	612	1554	604	783
BAKKEN	10-2018	31	3211	3269	1073	3251	1451	1381
BAKKEN	9-2018	30	2803	2795	1320	2822	1217	1200
BAKKEN	8-2018	29	2695	2304	3178	2988	1368	1236
BAKKEN	7-2018	4	213	221	25	180	24	125
BAKKEN	6-2018	0	0	225	0	0	0	0
BAKKEN	5-2018	15	1167	1614	78	980	980	0
BAKKEN	4-2018	30	2457	2359	123	1861	1747	114
BAKKEN	3-2018	31	2441	2088	105	1799	1484	315
BAKKEN	2-2018	28	2244	2362	95	1512	1501	11
BAKKEN	1-2018	31	2593	2585	107	1771	1771	0
BAKKEN	12-2017	31	2493	2549	155	1694	1694	0
BAKKEN	11-2017	30	3476	3467	98	2294	2276	18
BAKKEN	10-2017	25	433	220	308	172	172	0
BAKKEN	9-2017	30	159	0	0	14	14	0
BAKKEN	8-2017	31	179	212	22	43	37	6
BAKKEN	7-2017	31	211	235	43	79	61	18
BAKKEN	6-2017	30	143	236	308	43	43	0
BAKKEN	5-2017	30	350	218	145	188	179	9

In 2017 this well appeared to be on its last legs, and then "something happened." CLR brings this well back to a respectable 2,500 bbls/month. Nothing great, but the well is alive and kicking.

The well:

• 17079, 559, CLR,  Carson Peak 44-2H, Oakdale, t6/08; cum 324K 8/19;

The Carson Peak wells are tracked here. Note that I've said that this particular well, #17079, was a re-frack candidate.