This is an incredible story. I don't know what CLR's market cap was in 2007 but today it's about $11 billion. The Bakken made this company what it is and it was the foresight of its CEO and his willingness to stake his company on a new formation and new technology that made is so successful.
The Bakken has been a great run for many folks and for North Dakota, the story is only about four years old. For Montana, Elm Coulee, the story is about eleven years old, and now companies are going back in and refracking/reworking the original wells in Elm Coulee/Bakken.
And it's numbers like this (posted earlier today) that make the Bakken very, very interesting (this is a Whiting well, not a CLR well, but the point is still the same):
The Niemitalo 31-15XH (#19502) runs parallel to the Kinnoin 11-14H (#17081) which had an IP of 3,311, and has produced 534,267 bbls of oil as of 6/12. It was spudded 8/08. (At $50/bbl, 400K bbls = $20 million.) 400,000 bbls in less than three years and it continues to produce at 10,000 bbls/month (at $75/bbl, 3/4 of a million dollars every month); t2/11; cum 426K 7/17; cum 517K 11/23;Monthly production:
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 7-2017 | 31 | 2510 | 2449 | 339 | 2705 | 2643 | 0 |
BAKKEN | 6-2017 | 30 | 2403 | 2452 | 428 | 2464 | 2404 | 0 |
BAKKEN | 5-2017 | 31 | 2703 | 2670 | 368 | 2756 | 2694 | 0 |
BAKKEN | 4-2017 | 30 | 2860 | 3043 | 369 | 2794 | 2734 | 0 |
BAKKEN | 3-2017 | 31 | 3011 | 2873 | 439 | 2804 | 2721 | 21 |
BAKKEN | 2-2017 | 28 | 2749 | 2692 | 333 | 2419 | 2332 | 31 |
BAKKEN | 1-2017 | 31 | 2996 | 3201 | 307 | 2400 | 2187 | 151 |
BAKKEN | 12-2016 | 31 | 3206 | 3084 | 382 | 2369 | 2128 | 180 |
BAKKEN | 11-2016 | 29 | 2933 | 2908 | 408 | 2267 | 2209 | 0 |
BAKKEN | 10-2016 | 31 | 3205 | 3166 | 404 | 2368 | 1609 | 697 |
BAKKEN | 9-2016 | 30 | 3047 | 3041 | 397 | 2160 | 2100 | 0 |
BAKKEN | 8-2016 | 31 | 3206 | 3258 | 487 | 2228 | 2157 | 9 |
BAKKEN | 7-2016 | 31 | 3519 | 3453 | 460 | 2478 | 2416 | 0 |
BAKKEN | 6-2016 | 30 | 3391 | 3494 | 465 | 2239 | 2179 | 0 |
BAKKEN | 5-2016 | 31 | 3815 | 3893 | 540 | 2534 | 2472 | 0 |
BAKKEN | 4-2016 | 30 | 3951 | 3805 | 482 | 2527 | 2467 | 0 |
BAKKEN | 3-2016 | 31 | 3851 | 3833 | 606 | 2257 | 2108 | 87 |
BAKKEN | 2-2016 | 28 | 3204 | 3236 | 1223 | 1255 | 1129 | 70 |
BAKKEN | 1-2016 | 29 | 3577 | 3556 | 1337 | 1530 | 1388 | 86 |
BAKKEN | 12-2015 | 31 | 3944 | 4470 | 1430 | 1769 | 1629 | 78 |
BAKKEN | 11-2015 | 30 | 3269 | 2825 | 1467 | 1655 | 1522 | 73 |
BAKKEN | 10-2015 | 23 | 1975 | 1934 | 1026 | 989 | 944 | 0 |
BAKKEN | 9-2015 | 21 | 1908 | 1876 | 403 | 1880 | 1796 | 43 |
BAKKEN | 8-2015 | 31 | 3045 | 3047 | 641 | 3230 | 3168 | 0 |
BAKKEN | 7-2015 | 31 | 3131 | 3136 | 729 | 3294 | 3226 | 6 |
BAKKEN | 6-2015 | 30 | 2978 | 2984 | 619 | 3124 | 2860 | 204 |
BAKKEN | 5-2015 | 31 | 3214 | 3225 | 634 | 3053 | 2961 | 30 |
BAKKEN | 4-2015 | 30 | 3257 | 3218 | 644 | 2916 | 2803 | 53 |
BAKKEN | 3-2015 | 31 | 3341 | 3437 | 700 | 3274 | 3212 | 0 |
BAKKEN | 2-2015 | 28 | 3238 | 3166 | 636 | 3129 | 3073 | 0 |
BAKKEN | 1-2015 | 31 | 3570 | 3534 | 700 | 3174 | 3096 | 16 |
BAKKEN | 12-2014 | 31 | 3696 | 3793 | 517 | 3039 | 2896 | 81 |
BAKKEN | 11-2014 | 30 | 3693 | 3799 | 597 | 3132 | 3034 | 38 |
BAKKEN | 10-2014 | 31 | 3906 | 3726 | 460 | 3099 | 3037 | 0 |
BAKKEN | 9-2014 | 30 | 4175 | 4286 | 430 | 3038 | 2960 | 18 |
BAKKEN | 8-2014 | 31 | 4437 | 4634 | 454 | 3108 | 3046 | 0 |
BAKKEN | 7-2014 | 31 | 4580 | 4278 | 496 | 2958 | 2809 | 87 |
BAKKEN | 6-2014 | 25 | 3431 | 3530 | 593 | 2556 | 2511 | 0 |
BAKKEN | 5-2014 | 31 | 4425 | 4433 | 600 | 3397 | 3335 | 0 |
BAKKEN | 4-2014 | 30 | 4715 | 4623 | 544 | 3452 | 2695 | 697 |
BAKKEN | 3-2014 | 31 | 5212 | 5634 | 761 | 3678 | 2573 | 1043 |
BAKKEN | 2-2014 | 27 | 4775 | 4850 | 878 | 2793 | 2732 | 10 |
BAKKEN | 1-2014 | 28 | 5109 | 4855 | 1010 | 2576 | 2521 | 0 |
BAKKEN | 12-2013 | 31 | 5821 | 6413 | 1454 | 3413 | 3233 | 118 |
BAKKEN | 11-2013 | 30 | 6057 | 5636 | 1537 | 3434 | 3374 | 0 |
BAKKEN | 10-2013 | 31 | 5851 | 5804 | 1541 | 3099 | 3023 | 15 |
BAKKEN | 9-2013 | 28 | 5216 | 5359 | 1316 | 2796 | 2740 | 0 |
BAKKEN | 8-2013 | 30 | 5879 | 5668 | 1405 | 2957 | 2816 | 81 |
BAKKEN | 7-2013 | 31 | 4563 | 4429 | 1031 | 2482 | 2420 | 0 |
BAKKEN | 6-2013 | 13 | 1301 | 1296 | 360 | 976 | 952 | 0 |
BAKKEN | 5-2013 | 30 | 3832 | 4031 | 583 | 3269 | 3210 | 0 |
BAKKEN | 4-2013 | 30 | 4491 | 4355 | 825 | 3456 | 3396 | 0 |
BAKKEN | 3-2013 | 31 | 5846 | 5909 | 1004 | 4084 | 4022 | 0 |
BAKKEN | 2-2013 | 28 | 5392 | 5356 | 905 | 3413 | 3352 | 5 |
BAKKEN | 1-2013 | 31 | 6129 | 6163 | 1022 | 3961 | 3899 | 0 |
BAKKEN | 12-2012 | 31 | 5710 | 6096 | 1046 | 4559 | 4497 | 0 |
BAKKEN | 11-2012 | 30 | 7050 | 6711 | 1438 | 4371 | 4311 | 0 |
BAKKEN | 10-2012 | 31 | 7658 | 7633 | 1106 | 4552 | 4234 | 256 |
BAKKEN | 9-2012 | 28 | 7306 | 7175 | 992 | 3951 | 3872 | 24 |
BAKKEN | 8-2012 | 31 | 6934 | 7391 | 813 | 3451 | 3383 | 8 |
BAKKEN | 7-2012 | 31 | 7062 | 6972 | 832 | 3425 | 3355 | 8 |
BAKKEN | 6-2012 | 30 | 7418 | 7554 | 855 | 3703 | 3643 | 0 |
BAKKEN | 5-2012 | 31 | 8986 | 8768 | 1019 | 4908 | 4846 | 0 |
BAKKEN | 4-2012 | 28 | 8306 | 8330 | 1029 | 5213 | 5150 | 8 |
BAKKEN | 3-2012 | 31 | 9998 | 10143 | 1378 | 6548 | 6486 | 0 |
BAKKEN | 2-2012 | 29 | 9073 | 9823 | 935 | 5425 | 5150 | 217 |
BAKKEN | 1-2012 | 31 | 9740 | 8381 | 2615 | 5449 | 5281 | 106 |
BAKKEN | 12-2011 | 7 | 590 | 963 | 1048 | 854 | 102 | 742 |
BAKKEN | 11-2011 | 17 | 5367 | 5833 | 130 | 1740 | 0 | 1710 |
BAKKEN | 10-2011 | 28 | 10596 | 10801 | 352 | 3448 | 1 | 3394 |
BAKKEN | 9-2011 | 22 | 12156 | 11383 | 324 | 3872 | 0 | 3835 |
BAKKEN | 8-2011 | 25 | 13014 | 13705 | 452 | 4670 | 0 | 4625 |
BAKKEN | 7-2011 | 27 | 16017 | 15626 | 629 | 5468 | 1123 | 4295 |
BAKKEN | 6-2011 | 30 | 14320 | 14920 | 819 | 7600 | 7542 | 0 |
BAKKEN | 5-2011 | 26 | 7501 | 7529 | 589 | 3801 | 2823 | 935 |
BAKKEN | 4-2011 | 30 | 10515 | 10392 | 802 | 5620 | 5420 | 140 |
BAKKEN | 3-2011 | 31 | 18830 | 18563 | 1369 | 10495 | 9263 | 1170 |
BAKKEN | 2-2011 | 13 | 11869 | 10936 | 4491 | 6088 | 3356 | 2707 |
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