Hebron Update

Permits

2009

18498, 467, CLR, Obert 1-13H, Hebron, t3/10; cum 139K 1/13;

 

2010

19213, 341, CLR, Nadeau 1-35H, Hebron, t1/11; cum 63K 1/13;

19212, 457, CLR, Wiseman 1-31H, Hebron, t10/10; cum 123K 1/13;

18966, 148, CLR, Milloy 1-15H, Hebron, t10/11; cum 63K 1/13;

18964, 415, CLR, Fasching 1-22H, Hebron, t4/11; cum 79K 1/13;

18901, 640, CLR, Horob 1-14H, Hebron, t2/11; cum 113K 1/13;

18897, 584, CLR, Panasuk 1-23H, Hebron, t9/10; cum 88K 1/13;

18614, 880, CLR, Stedman 1-24H, Hebron, t4/10; cum 97K 1/13;

2011

2012

24494, conf, CLR, Stedman 5-24H2, Hebron,

24493, conf, CLR, Stedman 3-24H3, Hebron,

24290, conf, CLR, Stedman 4-24H-1, Hebron,

24289, conf, CLR, Stedman 2-24H-2, Hebron, 

24114, drl, Oasis, Stim 5504 42-2H, Hebron,

 

2013

UPDATES 

(Original posting -- scroll down)

As of June, 2011, most Hebron wells are still flowing freely, not on a pump. They are all on a natural gas pipeline; natural gas not being flared. 

For photos of wells on Hebron field, click here.

File numbers (updated November 12, 2010)
All wells Continental Resources unless otherwise indicated:

• 19212, 457, Wiseman 1-31H, 61K in less than a year; as of June, 2011, no pump
• 18498, 896, Obert 1-13H; on a pump
• 18901, 640, Horob 1-14H, 42K in about six months; as of June, 2011, no pump
• 18966, DRL, Milloy 1-15H
• 18964, 415, CLR, Fasching 1-22H, Hebron field, Bakken (reported here); as of June, 2011, no pump
• 18897, 584, Panasuk 1-23H; as of June, 2011, no pump
• 18614, 880, Stedman 1-24H, 70K in about a year; as of June, 2011, not yet on a pump
• 19213, 341, Nadeau 1-35H; erratic production; shut in for about a month this past winter (2011); as of June, 2011, still flowing, no pump

ORIGINAL POSTING

May 27, 2010

Look for the Hebron oil field to be the next active little field in the Williston area. On April 9, 2010, four (4) permits were issued for this very small field -- all of 10 full sections (8 full section and 4 half attenuated sections due to abutment up against the Montana-North Dakota state border).

The field is just west of Squires oil field, sharing a border.

Right now there are four wells in Hebron oil field on the confidential list:

• 18901, CLR, Horob 1-14H, permit granted Apr 9, 2010
• 18897, CLR, Panasuk 1-23H, permit granted Apr 9, 2010
• 18498, CLR, 896, Obert 1-13H, listed as a wildcat by NDIC, but clearly in Hebron, a TFS test well, other comments here
  
• 18614, CLR, listed as a wildcat by NDIC, but clearly in Hebron, Stedman 1-24H

These are all nestled together in the corner where four sections (13, 14, 23, and 24) meet.

Also, on April 9, 2010, the following permits were granted in Hebron:

• 18964, CLR, Fasching 1-22H
• 18966, CLR, Milloy 1-15H

This little field is obviously "owned" by CLR.

As of August 6, 2010, only the Obert well was shown as producing in the Hebron; all others are still on the confidential list, and not sure if any others drilled.

CLR: First Quarter 2010 Earnings Report

Financials
Total revenues, 1Q, 2009: $96 million
Total revenues, 1Q, 2010: $248 million (wow)

Operating costs, 1Q, 2009: $135 million
Operating costs, 1Q, 2010: $123 million (less despite increased production)

Net income, 1Q, 2009: ($26 million) -- a loss one year ago
Net income, 1Q, 2010: $72 million -- great gain this year

Per share, 1Q, 2009: (16 cents) -- a loss
Per share, 1Q, 2010: 43 cents -- beats by 8 cents; Reuter's "handily beats"

Operations

Crude oil, 1Q, 2009: 2.4 million bbls

Crude oil, 1Q, 2010: 2.6 million bbls

Comment: the numbers speak for themselves. One interesting line item: in 2010, CLR reported a one-time gain of $26 million on mark-to-market derivative instruments; one year ago, no gain was reported. CLR set aside $44 million for income taxes (against $217 million in crude oil and natural gas sales + $26 million for gain from derivative instruments = 18%.