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Friday, February 24, 2012

Random Comment on Rigs/Frack Crew Ratios -- The Bakken, North Dakota, USA

Random data points:
  • I can't remember where I blogged it and I can't remember what I said was optimal number of rigs/frack team ratio, but I believe I said it was in the 4/1 neighborhood -- every four active rigs require one dedicated frack team
  • KOG: 6 rigs now; ramping to 7 rigs; one dedicated HAL frack team as of 1Q12
  • OAS: 9 rigs now; ramping to 12 rigs; three dedicated frack teams and Oasis Well Services should begin operations this quarter (1Q12)
I believe my data is accurate, taken from corporate presentations and corporate press releases. If the above is accurate, and I believe it is, KOG has not had a dedicated frack team since the boom began, and is finally getting its first team this quarter. On the other hand, Oasis has been ahead of the curve on fracking teams.

All things being equal, getting your well fracked/completed as soon after the well reaches total depth may be one of the most important things a company can do. (Lousy grammar, I know, but you get the point.)

See also this link re: Oasis Well Services.
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3 comments:

  1. AnonymousFebruary 24, 2012 at 5:59 AM

    Another reason that I am impressed with Triangle Pertroleum is this company's insight as a somewhat newcomer to the Bakken. They purchased their own completion company, Rock Ridge, in order to expedite their drills. This company, in my opinion, will be one to watch in next couple of years both in ND and MT.

    ReplyDelete
  2. LGBFebruary 24, 2012 at 6:49 AM

    Kodiak took on a dedicated 24-hour frac crew in January and also has some level of access to a 2nd crew starting in mid. Feb.

    ReplyDelete
    Replies
    1. Bruce OksolFebruary 24, 2012 at 7:07 AM

      Thank you. But several years into the boom, and KOG finally has their dedicated team. The good news -- this should help cash flow.

      Delete

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