Sunday, February 17, 2013

Random Updating of Some Nice Wells From Last Year

In the process of going back and correcting a few typographical errors (in this case, misspelling "Williston"), I updated the July 2, 2012, daily activity report, and note some huge wells, including:

A nice example of minimal decline rate (for whatever reason; could be choked back; still flaring some gas); but note, significantly over 100K in less than 12 months and many of those months off-line much of the time:
  • 20812, 1,884, BR, Hammerhead 31-26MBH, Sand Creek, t4/12; cum 413K 8/18;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2012311733217327247640960397621193
BAKKEN11-201230184921845252253974239125613
BAKKEN10-20121310032993920022097120238733
BAKKEN9-2012147876761125351213031788952
BAKKEN8-2012312075920845692233485266466839
BAKKEN7-2012312268022605700237838309516887
BAKKEN6-20123021819216946716405202834712099
BAKKEN5-20122995389382377716215016143
BAKKEN4-201221404139411279511149011096

These wells with a decline rate but look at the production. This Halverson well with 48K bbls in one month!
  • 21760, 1,776, Hess, CA-Halverson-154-95-0409H-1, t5/12; cum 430K 8/18; not hooked up to a natural gas line:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2012311242112044214124882024882
BAKKEN11-2012301271812769189320330020330
BAKKEN10-2012311137311386135615438015438
BAKKEN9-2012301605516114192729498029498
BAKKEN8-2012312297522963177542226042226
BAKKEN7-2012312716827183267340209040209
BAKKEN6-2012241988120446137628290028290
BAKKEN5-2012314817147410484032577032577
BAKKEN4-20121337430293850169401694

The neighboring Halverson well with 148K in less than 8 months; in Hofflund field; not hooked up to a gas line yet:
  • 21761, 1,058, Hess, CA-Halverson-154-95-0409H-2, Hofflund, t6/12; cum 380K 8/18;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2012311301712685240729007029007
BAKKEN11-2012301526515341300632495032495
BAKKEN10-2012311403114002181918710018710
BAKKEN9-2012301827718276205126928026928
BAKKEN8-2012312325123163197636591036591
BAKKEN7-2012312354823668244334427034427
BAKKEN6-2012252118821059206028189028189
BAKKEN5-20121519472190251384853708537

This Oasis well with 112K but with a very erratic production profile:
  • 18855, 792, Oasis, Oasis Meiers 5692 11-19H, Alger, t2/12; cum 334K 8/18;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-201231722368472996557055700
BAKKEN11-201230727769862921558355830
BAKKEN10-201231754676833210417341730
BAKKEN9-201224553054732528495349530
BAKKEN8-201231884387973772759275920
BAKKEN7-2012319776101193432665066500
BAKKEN6-20123010716107444790623662360
BAKKEN5-20123148615137552710947109470
BAKKEN4-2012301446813933709913050130500
BAKKEN3-20123118045180451143817540175400
BAKKEN2-201221163611635024968754075400
BAKKEN1-2012121592498214140
BAKKEN12-20113147248240339390
BAKKEN11-2011305226152271031030
BAKKEN10-2011316749263501191190
BAKKEN9-201130136713147692482480
BAKKEN8-2011272174140834803955683887

And, last, but not least, this Hess well with 113K in less than a year; on a gas line, but flared a very tiny bit in the most recent month:
  • 21730, 992, Hess, GO-Stangeland-155-95-2128H-1, Capa; t5/12; cum 318K 8/18;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-201229819678671911176601763030
BAKKEN11-20123087178756200017438174380
BAKKEN10-20123194239489245822011220110
BAKKEN9-20123012763127253094473522858818764
BAKKEN8-2012312016020134423848175048175
BAKKEN7-2012311835818194326128600028600
BAKKEN6-2012221195712528348116423016423
BAKKEN5-2012192304922269628123892023892

The July 2, 2012, report, was particularly long for some reason, and includes a lot of great wells These four caught my eye for various reasons.

Looking at the flaring issue, my hunch is that if the state makes new rules on flaring too onerous, the oil companies will simply quit drilling in those fields with inadequate infrastructure as long as they have leases held by production. A good example is the Hofflund field above. It appears that entire field is held by production, but the infrastructure is lacking for natural gas gathering. If onerous flaring rules go into effect, expect to see a) monthly production across the board decline; and, b) drilling to stop completely in some fields. Companies might or might not stack rigs; they could move rigs where infrastructure is in-place and adequate.

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