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Tuesday, May 8, 2012

OXY USA Manages to Report Another Well With a 2-Digit IP

Updates

January 21, 2018: when OXY departed the Bakken, Lime Rock Resources acquired this well. Note production jump in 4/17 but still not a great well.

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-2017281472116350614600372
BAKKEN10-20173146469437161520124
BAKKEN9-20173069945947264610186
BAKKEN8-20173186690042585190229
BAKKEN7-201731916112744315700278
BAKKEN6-2017301751161149408030465
BAKKEN5-20173121082090543610040637
BAKKEN4-2017302048216865718730517
BAKKEN3-20173144350538033860125
BAKKEN2-20172852925741101670135
BAKKEN1-20173162176446094800118
BAKKEN12-20162852348742965150143
BAKKEN11-20163063346146044340164
BAKKEN10-20163174992149024780194

Original Post 
 
Link here

May 8, 2012: OXY USA manages to report another lousy well, based on IP:
  • 21089, 75 (no typo), Lime Rock / OXY, Staael 160-90-33-D-1H, Dimond; t11/11; cum 99K 10/16; Lime Rock acquired early 2016; pump failure/replaced with larger pump, October 14, 2015; pump failure/replaced with larger pump, October 25, 2013; pump failure/replaced with smaller pump, August 28, 2012; cum 161K 1/22;
For newbies, when you get to the link above, there will be some other links to posts discussing OXY's history of low IPs.

I'm starting to see a bit more discussion on the economics of the Bakken wells in general. Generally, IPs come in at 300 bbls to 3,000 bbls. It is rare to see IPs less than 100; it is even rarer to see a "DRY" Bakken well. But OXY USA keeps drilling these Dimond field wells, and keeps reporting IPs of under 100. I don't get it. I think I blogged about this before and some folks wrote in defending the results. I didn't get it then, and I don't get it now.

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-20163174992149024780194
BAKKEN9-20163065767048304460175
BAKKEN8-2016316796595172138901109
BAKKEN7-20163159545545745010226
BAKKEN6-20163059866446955040231
BAKKEN5-2016317296285040175101483
BAKKEN4-20163077388148236500355
BAKKEN3-20163195798955518060488
BAKKEN2-2016291050921517511090620
BAKKEN1-201631160217936000134901047
BAKKEN12-201531199319326134168801369
BAKKEN11-201530180518427363153001283
NEW PUMP10-20152861860956625230307
BAKKEN9-201530156115466170132201078
BAKKEN8-201531174815887813148201228
BAKKEN7-201531228823965095193801681
BAKKEN6-201530251526036477213001875
BAKKEN5-20153197295358278240580
BAKKEN4-20153097788651828280594
BAKKEN3-20153165865747825760346
BAKKEN2-20152890999848307540563
BAKKEN1-201531167916346893144501201

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