Monday, August 15, 2011

Enercom Conference -- Presentation Takeaways --Part IV -- Bakken, North Dakota, USA

Part III
Part IV
Part V
Oasis
  • Bakken acreage: 303,000 net acres
  • Drilling program: 22 years of drilling inventory; 7 rig program; 9th by 2H11; will go to 12
  • Production, daily: 7,800 boepd
  • Biggest news: explains Oasis Well Services; saves $1 million/well
  • Comment: drilling inventory -- 1,303 locations, 772 operated
  • Comment: increasing stages --> higher EURs (BEXP suggested that some time ago)
  • Comment: reaching total depth in 16 days
  • Comment: $9 million wells; 36-stage; plug and perf
  • Comment: takeaway exceeds production; 543K vs 426K
Whiting:
  • Bakken acreage: 639,137
  • Drilling program:
  • Production, daily: 31,100 boepd
  • Comment:
  • Comment:
  • Comment:
BEXP:
  • Bakken acreage:
  • Drilling program: 18
  • Production, daily: 13,000 (3Q11)
  • Comment: density pilot -- 5.5 wells in one spacing unit
  • Comment: two dedicated frack crews; ratio needs to be at least one frack crew per rig
  • Comment:
  • Bakken acreage: 266,000
  • Drilling program: 5 rigs; 6th late 3Q11; 7th by year-end
  • Production, daily: 8,000 boe/d
  • Comment: Re-fracking a great well; Franchuk 34-19SWH, original IP 2,006
  • Comment: Capital/BOE -- $17.85; avg op cost over life/bbl -- $5.75
  • Comment: Bakken inventory -- 350 million bbls
  • Bakken acreage:
  • Drilling program:
  • Production, daily:
  • Comment:
  • Comment:
  • Comment:
GMXR:
  • 35,524 (Enercom Conference, August 16, 2011)
  • Previously: 26,087 net acres (North Dakota and Montana)
  • New acreage a bit more southwest of original acreage, Billings County 
  • Focus: Three Forks -- GMXR opines that TF may be superior to the Middle Bakken
  • 1 rig in July 2011; to add 2nd rig in 1Q12


    Other Input

    Because I am not able to keep up with everything in this conference while I am traveling, I will place here items sent to me from other readers regarding the conference. I cannot vouch for everything below, but input comes from reliable sources.

    • 25 rigs by early 2012
    • All wells should be 8 wells/spacing unit
    • Average EUR: 603,000 (this was first stated about a month ago)
    • Translates to 4.85 million boe/spacing unit
    • 6 rigs on an Eco-Pad
    • Cored 5 wells all the way through Bakken and TFS to hit the andrite zone below
    • Charlette 2-22 is a discovery well
    • Three additional pay zones below the Upper Three Forks?
    • Good success in Elm Coulee; may expand the EUR of 403,000 boe
    • 2 rigs in Montana's Elm Coulee; want to go to 3 or 4 more next year
    • 900,000 acres; all but 80,000 de-risked
    • Doing everything to hold by production


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