Surprising Madison Well In North Dakota -- Paid For Itself in 3 Months? -- North Dakota, USA

Update

• 19315, 1,038, Petro Harvester/Sagebrush, Rice 11, Renville, Madison (not a Bakken), s7/10; t8/10; cum 66K 10/11

Original Post

This is at least the third time I have posted this story (sorry). But this is so interesting, so exciting (at least to some of us) that I felt it deserved a stand-alone post, a real surprise:

• 19315, 1,038, Sagebrush, Rice 11, Renville, Madison (not a Bakken), 37K in first 3.5 months
• This is a Madison well; at a total depth of 6,533 feet it should be a vertical well
• If this is a vertical well, and with a cumulative 37K at $75/bbl, this well may have already paid for itself (37,000 * $75 = $2.8 million) 
• Can a vertical well to 6,500 feet be drilled for less than a million bucks? I don't know
• Generally Madison wells have IPs of 200 or so, at least in my mind (I could be wrong), but I don't recall ever seeing a Madison well with an IP over 1,000 bbls; I'm sure someone will write in to explain what's going on, or even an error in reporting. But for now, pretty exciting. If it's accurate, it reminds me of my posting how it only takes one well to be a game-changer for a small producer

On the other hand, the Sagebrush Rice well in the very next section had a more typical IP for a Madison well, but still significantly more than what I would have expected:

• 19314, 555, Sagebrush, Rice 10, Renville, Madison (not a Bakken)

These wells are less than 30 miles from where EOG was targeting the Spearfish (Bottineau county).

I am being told, that based on the well files, both of these wells (19314 and 19315) have two (2) laterals about 15 degrees apart. They were drilled to just over 4,200 feet deep and the laterals are aobut 2,000 feet. The laterals follow a slightly downward slope, but not more than a few feet.

Call me naive, but one would have thought there wouldn't be much more oil in this section, 8-T161N-R82, with thirteen (13) producing wells in this section. Each of these wells, in this one section, has at least two laterals, some as many as five laterals. In the neighboring section, there is a well with six laterals.

There is currently a fourteenth well being drilled and almost completed in this section:#13884, Rice Trust 1.

Here we go!