May 26, 2011: Based on press release and comments, these are my thoughts regarding this well (numbers rounded)(feel free to comment) --
3,000 feet vertical (thus, the Spearfish).May 24, 2011: This report was removed from an updated version of the May 23, 2011, daily activity report. For now, I do not know what was going on. See new posting here.
3,000 feet horizontal (longer than EOG Spearfish horizontal wells).
Mud with little oil show in the Spearfish (this well).
Company's press release: the company remains optimistic about Spearfish prospects in Bottineau County and will report results of this well later.
My hunch: this well is either dry or disappointing.
First, read this earlier post --> Legacy: To Extend Play into North Dakota
The future of the Spearfish formation in Bottineau Country remains a real mystery.In today's NDIC daily activity report, Legacy reports a huge well:
Early on, NDIC/Director, Lynn Helms, or others, said "we" could see 2,000 to 7,000 wells in a relatively small area along the North Dakota-Canadian border a bit east of the Bakken activity. There were articles that EOG would bring its Saskatchewan experience and success across the border into North Dakota.
But then, after a few wells were drilled, completed, and reported, EOG's activitiy ended. This was about the same time that EOG was shellacked by shareholders after reporting 3Q10 results. Shortly after that I posted a short essay questioning whether EOG had thrown in the towel on the Spearfish in North Dakota.
- 19462, 3,000, Legacy, Legacy Etal Energy Norm 4-19H, Bottineau
For more on Legacy, use the search app at your browser to search "Legacy" at this site, or go to the "tags" at the bottom of this site, and click on "Legacy."
If this is not a typo, and it's truly a 3,000 bopd IP in the Spearfish, this will be very, very interesting. Remember, it seemed that EOG was not having the success in the Spearfish that the Canadians were having in southwest Manitoba.
The next thing to watch for: the cost of these wells. A typical Bakken well costs $7 million. The Canadian Spearfish well: $1.5 million.
For more on the Spearfish, click here, or on the link at the sidebar on the right.
Mud log (vertical leg only) has no oil shows in the Spearfish for this well.
ReplyDeleteWell is off conf but file is not available. Scout ticket indicates well td was appx 6900 feet. If the horiz leg is in the spearfish, then the lateral is almost 4000 feet.
It would be a big surprise if this is indeed a bakken well or if it is a spearfish well with 3000 bopd ip. Either way, something doesnt look right to me on the dar for this well.
Spearfish is at about 3000 feet depth and bakken is about 3900 feet in this area of the basin. Scout ticket indicates td (inc horiz leg) of this well was 6900 feet.
ReplyDeleteYou are correct. Unless there is an error, this well produced in one day about 15 times what EOG estimated in April 2010.
ReplyDelete"Initial IPs of 200+ Bopd 62 Mboe/Well, NAR"
EOG Analyst day presentation.
It looks like EOG misanalysed it. EOG's sale to Surge closed this month.
Regrets, they have a few, I suspect.
But, EOG and several others have Spearfish Waskada acreage in Manitoba, Canada.
Legacy stock was up, a bit, but not much volume.
Well data:
Completion Data
Pool: SPEARFISH Status: DRL Date: 11/20/2010
Cores and Samples
Type: DC Top: 2340 Bottom: 3690
Type: DC Top: 3720 Bottom: 5430
Type: DC Top: 5460 Bottom: 6905
Either it is an error, or this is one of the most profitable well in North America this year.
Legacy has 4 more to report.
Surge stock may surge. Legacy may have a legacy.
Anon 1.
Something tells me this report is almost too good to be true. It will be interesting to see if this report stands as is. If so, very, very interesting.
ReplyDeleteI've seen some errors on the DAR but they are very few. It would be surprising that the one well we've all been waiting for has a mistake. Smile.
If it's true that this is Bakken and not Spearfish, that's just as big a story.
I have my fingers crossed that this will be a big story for Bottineau County and North Dakota.Thanks for the information!
ReplyDeleteWhere do you find the file for a particular well if you have the file no and the api no?
ReplyDelete"Basic Services" at the NDIC website will get you that information. It costs $50 for one year. Faxing in application, one can get a password in about a day.
ReplyDeleteIf you have only an occasional file number and $50 doesn't seem cost effective, folks on the Bakken Shale Discussion Group have generally been very helpful.
I have a link to that group on the sidebar at the right:
http://groups.google.com/group/bakken-shale-discussion
Within reason, I will occasionally look at data.