Thursday, March 26, 2020

Completion Strategies, Bakken 4.0 -- Fracking Question Now That We're In Bakken 4.0 -- March 26, 2020

Background: we entered "Bakken 4.0" in March, 2020. My hunch is that fracking / completion strategies will change -- some operators will change immediately; others will take a little longer.


******************************
First Group
Whiting:
WPX:
******************************
Second Group

Nine Point Energy:
Original Post
Just throwing this out for discussion (it's rhetorical); we'll see over the next twelve months.
I was unimpressed with the initial production for the Whiting well that came off the confidential list today, especially for Big Bend oil field, but then I saw the number of stages -- only 35 stages and a moderate frack, 7.4 million lbs. 
The question becomes:
  • when oil is trending toward $0/bbl (no typo), is it more economical to max out the frack to get highest IP possible and then choke back for a year; or is it more economical to minimize initial production using a smaller frack and then coming back (years later?) when prices are better? 
  • Other questions:
  • does choking back cause more problems for the "durability" of a well?
  • what affect on the well is caused by choking back for a year or longer? 
  • fracking is now said to account for upwards of 2/3rds of total cost of a new well; if much of that is due to cost of sand (transportation, etc), does it make sense to use smaller frack, better technology?
Completion strategies beginning in 2018 are tracked here
The well:
  • 36323, 563, Whiting, Oppeboen 14-5HU, Big Bend, t10/19; cum 62K 1/20; 1K month; 35 stages; 7.4 million lbs; fracked 8/1/19 - 8/7/19; 6.5 million gallons; 87.7% water by mass (on the low side, by percentage); 
  •  
From the file report:
  • wow, look how fast they drilled this well 
    • spud: June 3, 2019
    • cease drilling: June 11, 2019
  • logging services began at 1930 hours, June 5, 2019
  • the curve was landed at 0850, June 8, 2019
  • lateral began at 0550, June 9, 2019
  • drill rates averaged 400 ft/hour

No comments:

Post a Comment