Monday, November 19, 2012

Oil Field In The Bakken With Best Wells

A reader who wishes to remain anonymous sent me this data. Like most of us, he/she was quite impressed by the Sanish, but was surprised to find the Reunion Bay oil field the best field based on oil production/well.

Although one is tempted to compare bbls of oil/field, one cannot do that due to fact that oil fields can vary significantly in size, as well as varying activity in various fields. The last two columns, bbls/month/well and bbls/day/well are most valuable.

Very interesting. And a huge "thank you" for a reader for sending this in. [It is interesting that Reunion Bay is the only field I have not updated in the sidebar at the right.]

This field is "owned" by Marathon and WPX, with Marathon having the most wells. Except for one (1) Slawson well, every well in Reunion oil field is either an MRO or a WPX well.

Heart Butte and Banks are right in the middle of the northeast McKenzie County Bakken sweet spot and is giving Reunion Bay a run for bragging rights. It is somewhat surprising to see the results of Van Hook.

Rank Field Barrels of Oil # of Wells Ave Bbls/Mo/Well Bbls/Day/Well


Some Rounded








1 Sanish 1,702,587 343 4,963 166






2 Parshall 736,000 236 3,118 104






3 Alger 597,000 124 4,814 160






4 Van Hook 531,000 105 4,963 165






5 Reunion Bay 431,000 61 6,845 228






6 Murphy Creek 392,000 137 2,861 95






7 Heart Butte 345,000 55 6,272 209






8 Banks 330,000 49 6,734 225
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2 comments:

  1. AnonymousNovember 20, 2012 at 8:21 AM

    I see you mentioned Oakdale field below. With only 12 wells maybe it does not qualify for this type of list.

    Those 12 wells for last month of reporting show 9,878 barrels per month and 318 barrels per day averages.

    Not far to the SE are the Roadrunner and Clover wells which you had also mentioned in the last couple days relating to high IPs from Continental.

    ReplyDelete
    Replies
    1. Bruce OksolNovember 20, 2012 at 8:46 AM

      Yes, I have been quite impressed with Oakdale.

      If I did the arithmetic correctly, those 12 wells have produced a cumulative of 3.02 million bbls (through September).

      3.02 million x $65 --> $200 million or an average of $16 million/well. And the wells are all less than a few years old; and they will keep pumping for decades.

      So, assuming that $16 million/well more than covers the cost of drilling the well, that's a fair amount of free cash flow coming from Oakdale.

      And, yes the Roadrunner and Clover wells are going to be great.

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