In my Ross field update I noted that Hess has permits for six wells on one pad. In section 27-156-90, Hess will drill six wells on a 2560-acre unit. The nomenclature suggests these will be long laterals, and that three laterals will go to the west, and three laterals will go to the east. My hunch is that the three long laterals going east will target the Middle Bakken, the Upper Three Forks Sanish, and the Lower Three Forks Sanish. The three long laterals going west will target the same formations.
Hess has done it again.
In the daily activity report, March 5, 2010, Hess was granted permits for six wells on one pad in the Pleasant Valley oil field (permits #18775, #18776, #18777, #18778, #18779, and #18780). This time the pad will be on section 21-157-94, and the laterals, instead of running west-east, will run north-south. Again, my hunch is that three long laterals going north will target the Middle Bakken, the Upper TFS, and the Lower TFS; and three long laterals going south will target the same formations.
So, now we have CLR with the Eco-Pads, four wells on one pad in a 1280-acre unit, and two pads (8 pads) in a 2560-acre unit, targeting two formations (the Bakken and the "Three Forks Sanish").
Hess is trying something a bit different with six laterals targeting three formations (hunch) on a 2560-acre unit.
Friday, March 5, 2010
99
A new record for number of active rigs in North Dakota: 99.
The previous high was 98 (yesterday); 97 ( a few weeks ago), 96 (a few days before that), 95, earlier this year .... and 95 tied the previous record of 95 set in late 2008. When the price of oil plummeted, the number of active rigs dropped to 33 in early- to mid-2009.
Some opine that there will be as many as 120 active rigs in North Dakota by this summer. It might happen. Despite a glut of oil on the market, oil is nearing $82 -- of course, this has less to do with supply/demand than with the strength of the dollar. However, we may be seeing glimpses of untethering the price of oil and the strength of the dollar: oil jumped almost $2.00 in early trading today despite the fact that gold has NOT moved, and there is increasing talk of sovereign defaults (Greece, Portugal, Spain) putting pressure on the Euro and strengthening the dollar.
The previous high was 98 (yesterday); 97 ( a few weeks ago), 96 (a few days before that), 95, earlier this year .... and 95 tied the previous record of 95 set in late 2008. When the price of oil plummeted, the number of active rigs dropped to 33 in early- to mid-2009.
Some opine that there will be as many as 120 active rigs in North Dakota by this summer. It might happen. Despite a glut of oil on the market, oil is nearing $82 -- of course, this has less to do with supply/demand than with the strength of the dollar. However, we may be seeing glimpses of untethering the price of oil and the strength of the dollar: oil jumped almost $2.00 in early trading today despite the fact that gold has NOT moved, and there is increasing talk of sovereign defaults (Greece, Portugal, Spain) putting pressure on the Euro and strengthening the dollar.
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