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Monday, May 27, 2013

Random Update On The Lower Benches Of The Three Forks, EOG's Experience -- Mike Filloon

From Mike's most recent SeekingAlpha post:
EOG's second bench of the Three Forks result was better than I expected. The River View 3-3130H had an IP rate of 3,150 barrels of oil per day. This does not include gas or natural gas liquids, and I should point out its Antelope Prospect has a higher gas/oil ratio (GOR) than Parshall Field. It also had a first bench result in the Antelope. West Clark 101-2425H had an IP rate of 2,205 bopd. EOG has stated that it believes the second bench could be better than the first or Bakken in this area. Craig Cooper has stated this in several occasions in comments over the past year, and it would seem he was and is correct.
Mike mentions Craig Cooper. At this link, one can see Craig Cooper's comments on fracking in the Bakken and elsewhere. Very, very educational.

Craig also commented on an earlier Mike Filloon article in which Mike suggested some EOG Bakken wells in the Parshall oil field model to 2-million-bbl-EURs:
[Mike] generated the 1800-day IP rates for the wells with insufficient production using the average depletion. [He] multiplied this number by 1800 days to get the total oil produced by each well to date. The model [he uses] estimates half of all well production is attained at 5.5 years. Being conservative, [he uses] five years for EURs. These numbers are very good, and derived from short laterals. If these wells were completed as 10000 foot laterals and NGLs and natural gas are figured, several would model to EURs over 2 million barrels of oil.

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