Random Note on the Mogen Wells in Hawkeye Oil Field

This is what got me into such a good mood today, this note sent in by a reader, and posted over at the Hawkeye oil field site:

Update on Mogen wells in the Hawkeye Field.

20738 33053035800000 HA-MOGEN-152-95- 0805H-2HESS CORPORATION HAWKEYE SWSE 8 152 95 11/20/2011 233606 22817 335500 

16694 33053028110000 HA-MOGEN-152-95 0805H-1 HESS CORPORATION HAWKEYE SWSE 8 152 95 11/2/2007 142818 13374 258428 

The new Mogen #20738 has produced 100K more in nine months,than the Mogen #16694 has produced since 11/2007. However, the older well has been IA since the new well started producing.

And that's the kind of note that gets me excited again about the Bakken.

In my shorthand:

• 16694, 348, Hess, HA-Mogen-152-95-0805H-1, Hawkeye, F, t12/07; cum 143K 7/12; inactive for the past year (since 1/12)
• 20738, 1,496, Hess, HA-Mogen-152-95-0805H-2, Hawkeye, F, t12/11; cum 234K 7/12;

The Hawkeye oil field is an old field, and it is smack dab in the middle of one of the sweet spots in the Bakken, northeast McKenzie County, about ten (10) miles from Banks oil field. 

But look at that second Mogen well: 234K in about seven months -- incredible. I used to say that at the 100,000-bbl threshold a Bakken well was well on its way for paying for itself. Costs have gone up significantly, and maybe the new threshold is 200K bbls. If so, this well is on its way to paying for itself and will now produce for the next thirty (30) years.

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Put on your headphones and play this loud, real loud:

My significant other flies in tonight.