A couple observations:
- it looks like the company is taking a mid-range approach to number of stages; some companies have moved to 36 stages; TPL used 31 stages in these four wells
- it looks like the company is going to compare "all-ceramic frack" with a 75/25 sand/ceramic mix
- 21452, 3,023 max; 1,429 - 7-day; Dwyer 150-101-21-16-1H, Pronghorn oil field; 31 frac stages; 25% ceramic
- 21632, 3,230 max; 2,265 - 7-day; Larson 149-100-9-4-1H, Ellsworth oil field; 31 frac stages; 100% ceramic
It should be noted that CLR also uses the 7-day actual production model for IP (at least that was said more than a year ago; that could have changed).
Well Completion Details
- Larson 149-100-9-4-1H
- 31 stages using plug and perforate method; 100% ceramic
- 9 day actual completion time v. 7 day planned completion time
- 31 stages using plug and perforate method; 100% ceramic
- Dwyer 150-101-21-16-1H
- 31 stages using plug and perforate method; 25% ceramic / 75% 20/40 white sand
- 7 day actual completion time v. 7 day planned completion time
- 31 stages using plug and perforate method; 25% ceramic / 75% 20/40 white sand
- Gullickson Trust 150-101-36-25-1H (WI%: 35.7%)
- 31 stages using plug and perforate method; 25% ceramic / 75% 20/40 white sand
- 3.5 days actual completion time v. 7 day planned completion time
- Time savings result of zipper frac (pad drilling). Estimated $350k savings
- Time savings result of zipper frac (pad drilling). Estimated $350k savings
- 31 stages using plug and perforate method; 25% ceramic / 75% 20/40 white sand
- Gullickson Trust 150-101-36-25-3H (WI%: 38.8%)
- 31 stages using plug and perforate method; 100% ceramic
- 3.5 days actual completion time v. 7 day planned completion time
- Time savings result of zipper frac (pad drilling). Estimated $350k savings
- 31 stages using plug and perforate method; 100% ceramic
I think when you talk about zipper frac you are talking about a sliding sleeve. You can do a stage an hour with sliding sleeve because all the actually frac gun work is completed. The only actual work being done on a slide sleeve frac is the pumpin of frac slurry down hole. You dont have the problems and wait time associated with waiting on frac gun being pumped down hole and being pulled back out. The problem with slide sleeves is there can be problems and when that happens the company will pay demurage time to many trucks since slide sleeve go thru so much product so quickly sand is often ordered 10-20 trucks at a time and if there is a breakdown they pay for all those trucks to sit there and wait sometimes for days.
ReplyDeleteHowever when slide sleeve goes smooth there is nothing slicker!
Thank you for taking time to post. I think Triangle was formed around a fracking company, but I could be wrong on that.
DeleteSee: http://milliondollarway.blogspot.com/2012/04/not-for-investors-only-z-man-on.html
So the seven day indicates a daily rate averaged over 7 days. And the max is the max rate anywhere during that period?
ReplyDeleteOthers smarter than I will have to answer that question, but this is the practical answer, my 2 cents worth.
DeleteA well pad has only so many tanks on it. If the well is a good well, and the well is wide open (64/64 inch) they would fill the tanks very, very quickly. So, they have to choke back the well at what is called the "production rate." The rate is dependent on how fast they can store/ship/sell the oil (those are three separate variables: on-site storage; ship [truck, pipeline, rail], and sell. [Obviously if there is no market for oil, they aren't going to produce it.]
I do not know how long the well was wide open to determine max flow rate; it could have been wide open for one hour, for all I know. More likely 24-hour flow. In fact, I think the press release mentioned a 24-hour flowback but maybe that was somewhere else.
When IPs were being pushed by BEXP, if I recall correctly, CLR was at a "disadvantage" reporting "7-day" or "30-day IPs." CLR noted that if the pipeline was unavailable for some reason or there was a lack of on-site storage, they could not pump out at maximum rate for seven days. So, they announced, they would change their way of reporting IPs, also. That was one, two years ago. I forget. Not sure if CLR has changed method for calculating IPs.
One could ramble on for quite awhile about IPs. I continue to report them because they are an important data point, but an IP is simply one data point.