An Esoteric Look At Some Oasis Wells on DRL Status for Extended Period of Time -- For My Benefit Only -- Not Worth Spending A Lot of Time On -- Bakken, North Dakota, USA

Earlier I posted a random thought about the cost to an operator while waiting for a well to be completed (fracked).

"Anonymous" gave an example of Oasis Petroleum "dragging" out the reporting process for much longer than six months. I was curious.

Going to NDIC's "Well Search" database, one can see how long some wells are waiting to be completed.

If I am reading the database correctly, and I assume I am, the "Status Date" refers to the date the well was put on that status.

Here are some outliers. These Oasis wells went on DRL status on the following dates according to NDIC:

• 17661, 12/7/10, Ruud 5493 42-23H; t8/11; cum 94K 6/12; IP: 1,592
• 19307, 8/20/10, Devon 5601 12-17H; t7/11; cum 64K 6/12; IP: 1,033
• 17646, 11/25/10, Peters 11-1H  [t7/11; cum 68K 6/12; IP - 741]

A fourth well might have been on DRL status at one time, but is back on the confidential list now:

• 19413, 11/28/10, Moore 5304 13-1H, t9/12 (obviously a typo; today it's August 21, 2012); cum 62K 6/12; IP: 1,260. 

This list does not include several that have been on DRL status since March, 2011.

17661: the file report showed they reached total depth in 20 days on February 28, 2011. I do not understand a "DRL" status date of 12/17/10.

19307: spud date -- 8/20/10; TD in 31 days, November 12, 2010. The well file does have a photo of the flare; t7/11; cum 64K 6/12; IP: 1,033

17646: spud date -- 11/25/10; TD in 22 days, December 10, 2010; t7/11; cum 68K 6/12; IP - 741]

Again, there are several other wells on DRL status, but they are a bit more recent.

But a well waiting to be fracked is costing the operator money (some wells don't require fracking, but I would assume these are not placed on DRL status if otherwise completed). Of the three above, only one doesn't make sense to me, so in general, it appears things are generally "above board." (I'm not a conspiracy theorist regarding wells on DRL status -- except for perhaps the Oil for America wells that have been on DRL status "forever.")


19413 : this well is a bit of a strange duck. It is back on the confidential list. It was being drilled back in "November, 2010 - January, 2011." It reached TD in 37 days, on January 3, 2011, after re-entry November 28, 2010. The file report suggests that it was originally targeting the Middle Bakken but was re-designated to target the Three Forks. It was scheduled to undergo fracking on/about April 1, 2011, but now that the well is back on the confidential list, we don't know whether it has yet been fracked. The fact that it is not listed in DRL status suggests to me it has not been fracked yet; t9/12 (obviously an error; it is August 21, 2012 today; IP: 1,260; cum 62K 6/12;

I've put a similar comment to the above at: http://milliondollarway.blogspot.com/2011/07/for-investors-only-burning-through-cash.html.