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

Enercom Conference 

Part I

Part II

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:

Denbury:

• 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

CLR:

• 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.

CLR:

• 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

Legacy Oil and Gas presentation here -- a PDF file.