Data points from the SeekingAlpha.com earnings conference call:
- increasing CAPEX, mostly due to the Bakken
- will fund with internal cash flow; if more needed, assets sale (gas to oil switch)
- Bakken wells costing $13.4 million; will decrease to under $10 million
- using costly hybrid (plug-and-perf) for HBP wells; will use less costly sliding sleeve for infill
- $8.9 million to complete an Eagle Ford well; it was $10.3 million in 2011 (see transcript for discussion of daily production of Bakken wells vs Eagle Ford wells)
- completed their CBY facility; in April, shipped an average of 29,000 bopd to higher-value mkts
- still relatively early in the Bakken
- 2012 exit rate as high as 68,000 boepd
- Tioga gas plant to be completed in 2013
"We're nearing the end of HBP mode, what we are doing is we're doing a comprehensive development strategy for the Bakken. So this a long-term development strategy with a goal of maximizing profitability and capital efficiency. And so the results of that study will be used to optimize the drilling program in 2013 and beyond."This was an interesting exchange:
Q: Do you engage in controlling flowback techniques to increase EURs?
A: In Utica, yes: shut in the well for an extended period of time. The nature of the Utica is quite different from the Bakken. In the Bakken: no.
Enola Gay, Hillbilly Moon Explosion