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Wednesday, August 7, 2013

CLR: New Corporate Presentation, Dated August 7, 2013

Updates

August 8, 2013: a reader suggests the delineation of the LOWER Three Forks by CLR could be the story of the year, 2013. I can't argue. It's a much bigger story than I think folks realize.
 
Original Post

Link here for the PDF file.

Some quick data points (most numbers rounded for easier recall):
  • one million acres in the Bakken, North Dakota
  • one million boe reserves
  • current production: 150,000 boepd
Leading the delineation of the lower Three Forks
  • CLR: 13 wells targeting the lower TF
  • EOG, COP, XTO, ZEN: 5 well total targeting the lower TF
Total lower Three Forks wells tested (all operators):
  • TF2: 10 wells
  • TF3: 6 wells
  • TF4: 2 wells
Key observation: the lower Three Forks has little faulting or structure; production interference can occur in areas with severe faulting and natural fracturing (think Monterey Shale in California)
Charlotte unit testing completed, McKenzie County, west of the Nesson anticline:
  • TF2 and TF3 proven productive
  • no evidence of production interference between wells in the Charlotte unit
Colter unit lower TF testing, Dunn County, east of the Nesson anticline
  • Colter TF3 producing at 1,750 boepd at 3,200 psi with no indication of pressure drawdown

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