Wednesday, February 12, 2020

A Closer Look At The Two Wells That Came Off Confidential List Today -- February 12, 2020

I get a kick out of folks telling me that "monster" wells represent a tiny fraction of all the wells drilled in the Bakken.

That's correct.

I won't argue.

But then this. These are the two wells that came off the confidential list today (see below). Neither well was particularly remarkable for wells being reported in 2019 - 2020. These are very, very mediocre wells from my point of view in the overall scheme of things. But compare these two wells with the wells that were being reported in 2008 - 2012.

These 2019 - 2020 wells are huge in comparison.

The wells reported in 2008 - 2012 were "lucky" to hit 100,000 bbls in two years. Now, it's a downer if a Bakken well doesn't hit 100,000 bbls in the first six months.

Also, note the small number of stages in these two wells. In addition, one well used a relatively small amount of sand, the other, much more sand.

The wells:
  • 35883, 771, Liberty Resources, Haley 158-93-29-32-10MBH, 27 stages; 10.8 million lbs; East Tioga, t8/19; cum 84K 12/19;
    PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
    BAKKEN12-20193112821128242703019391180051386
    BAKKEN11-201930172541707532828220022190399
    BAKKEN10-2019291851819143368822308122776305
    BAKKEN9-20193021213202694374727694242253469
    BAKKEN8-20192113743131764934019004161432861


  • 28194, 864, Oasis, Lewis Federal 5300 21-31 5B, 35 stages; 6 million lbs; Baker, t8/19; cum 110K 12/19;
    BAKKEN12-201931249682499322021351331815516761
    BAKKEN11-20192318655186521413322141164655515
    BAKKEN10-20193127716278352705128027226075203
    BAKKEN9-20193026888267862914324662229381514
    BAKKEN8-2019131215011995135571064210266285

By the way, Lynn Helms tells us that "they" are getting close to drilling out the Tier 1 areas in the Bakken. I will "never " disagree / argue with the Director, NDIC. He knows this stuff better than anyone. Having said that, note that the two wells above were middle Bakken wells. Operators still have the Three Forks. When I see no more middle Bakken wells being drilled, and 100% of new wells being drilled are Three Forks wells, then I will know that things have changed.

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