Differences Between Initial Production Numbers (BOE) in Press Releases Vs Number (BO) Reported at the NDIC Website

In today's 1Q11 earnings release, CLR released early production results for a number of wells. I have added the initial production number for oil (not "oil equivalent) as reported to/reported by the state. Note the difference. When I first started this blog, CLR used a different approach to report initial production numbers but then switched to methods used by other Bakken companies, most often a variation of the 24-hour flowback number.

• Bud 1-19H (70% WI) in Williams Co. – 1,984 boepd; 662 bopd
• Seattle 1-35H (38% WI) in McKenzie Co. – 1,883 boepd; 683 bopd
• Ivan 1-29H (42% WI) in McKenzie Co. – 1,619 boepd; (N/A)
• Gronfur 1-28H (57% WI) in Williams Co. – 1,589 boepd; (N/A)
• Norway 1-5H (38% WI) in McKenzie Co. – 1,435 boepd; (N/A)
• Buelingo 1-20H (52% WI) in McKenzie Co. – 1,417 boepd; 417 bopd
• Missoula 1-21H (94% WI) in McKenzie Co. – 1,403 boepd; 749 bopd
• Hartford 1-19H (85% WI) in Williams Co. – 1,396 boepd; 637 bopd
• Kleist 1-35H (67% WI) in Divide Co. – 1,181 boepd; 765 bopd
• Daniel 1-33H (43% WI) in Divide Co. – 1,179 boepd; (N/A)
• He 1-20H (41% WI) in McKenzie Co. – 1,117 boepd; (N/A)
• Barney 1-29H (71% WI) in Williams Co. – 1,047 boepd; (N/A)

The number reported at the NDIC website must be calculations based on actual "production parameters in the field under 'normal' conditions."

Harold Hamm, CLR/CEO, in the 1Q11 earnings conference call, noted that the 24-hour flowback numbers could have been even higher:

Continental continues to restrict initial production rates on many wells in North Dakota to minimize natural gas flaring and to deliver as much of the rich gas as possible to market. "Some wells have initial flowing tubing pressures of more than 3,000 psi for several days, so they could easily have tested at double or more their announced rates, if we had opened them up," Mr. Hamm said.