Monday, July 8, 2013

Random Look At the 3rd Group of 100 Wells Early In The Bakken Boom -- 3rd In A Series

See first posting in this series.
Second posting in this series.

Of the 100 wells
  • Dakota: 1 (dry)
  • Devonian: 1
  • Fort Union: 4 (all dry)
  • Madison: 15
  • Midale: 1
  • Red River: 10
  • Spearfish:3
  • Winnipegosis: 3
  • Bakken: 62
One Bakken well was inactive; one is temporarily abandoned.

The table below:
  • The fourth column: bbls of oil in thousands, cumulative
  • The fifth column: month/year drilled (tested)

16601 madison 20 2/8
16602
121 10/7
16603
182 8/7
16604 spearfish PNC

16605
64 7/7
16606
PNC

16607 madison 90 9/7
16608
23 3/8
16609
24 12/7
16610
281 9/7
16611
134 10/7
16612
89 6/8
16613
85 12/7
16614
PNC

16615
PNC

16616 madison


16617
23 10/7
16618
PNC

16619
PNC

16620
103 8/7
16621
103 10/7
16622 madison PNC

16623
27 9/7
16624 duperow 29 9/7
16625
PNC

16626
145 9/7
16627 madison 6 8/7
16628
280 6/9
16629 red river 13 6/8
16630 red river 155 7/7
16631 madison dry 5/7
16632
PNC

16633
PNC

16634
106 10/7
16635
218 8/7
16636 red river PNC

16637
350 10/7
16638 madison 249 9/7
16639
351 3/8
16640
96 10/7
16641 red river 52 8/7
16642 red river 51 10/7
16643 madison 2 4/8 PA
16644 spearfish 40 8/7
16645 madison 4 8/7
16646
130 7/7
16647
116 10/7
16648
243 8/7
16649 dakota dry 1/9
16650 midale/nesson 131 8/7
16651 madison 8 9/7
16652
150 9/7
16653 madison 71 10/7
16654
136 8/7
16655 devonian 12 10/7
16656
411 10/7
16657 fort union 0 9/11 INA
16658 fort union dry 9/11
16659 fort union dry 9/11
16660 fort union  dry 9/11
16661 fort union  dry 9/11
16662
PNC

16663
47 12/7
16664
230 12/7
16665
PNC 11/8
16666
163 11/8
16667
337 4/8
16668 madison dry 7/7
16669 winnipegosis PNC

16670
74 11/7
16671
396 10/7
16672
94 5/9
16673
PNC

16674
30 4/8
16675 madison exp

16676
183 11/7
16677
15 12/7 TA
16678
98 9/7
16679 winipegosis 143 4/16
16680 red river dry 10/7
16681 red river 21 12/7
16682
67 10/8
16683
48 12/7
16684
400 3/8
16685
170 2/8
16686
96 12/8
16687
166 11/8
16688 spearfish 15 10/7
16689
78 6/8 IA
16690
PNC

16691 red river 294 9/7
16692 winnepoegosis 35 9/7 IA
16693
45 8/8
16694
143 12/7
16695
239 11/7
16696 madison 11 2/9 IA
16697 madison 6 10/7
16698
186 12/7
16699 red river 296 11/7
16700 red river 232 1/8


I did this little exercise because some folks have said the Bakken wells have such a bad decline rate, they will start shutting some of them down after five years. Many of the 46 Bakken wells above appear not to be economic, but as long as they are producing, they hold the lease by production.

In addition, a lot of those commentators were way ahead of their headlights. Early in the boom, "they" were drilling everywhere to see what they had: they were defining the boundaries of the middle Bakken. "We" didn't even know about the Three Forks which might turn out to be even better than the Bakken. Also, operators were still trying to crack the geology of the Bakken. And, it goes without saying that completion/fracking techniques were evolving. Costs were high, and getting higher. Now, with pad drilling and for other reasons, costs are coming down.

Many of the initial Bakken wells were short laterals, and they were all fracked with very, very few stages. Many had a single frack.  

In the game of basketball, there are players whose stats (points, rebounds, etc) are very, very poor, but they play an important role on the team for other reasons.

The most interesting thing in this little exercise: how great some of the Red River wells were.

Disclaimer: I went through the data base fairly quickly, and it is very likely there are errors. But the errors are unlikely to change the general results.

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