Updates
November 11, 2013: see comment this date below. Despite my November 9th note, I still think it was a Montana well/location (oil companies tend not make typographical errors when reporting well names). I appreciate readers taking an interest in solving the mystery.
November 9, 2013: in the note below I noted that I could not find "Crusch 2-33" and suggested it might be a Montana well. Also, without the"H" designation it makes one question whether it was even a Bakken well. However, it's very possible it was misspelled. There is a "Crusch" well, spelled differently in North Dakota:
- 16033, 179, XTO, Chruszch 11X-20, St Demetrius, t4/06; cum 46K
Original Post
From Yahoo!In-Play:Abraxas Petroleum Corp. provides third quarter 2013 production, guidance; in the Williston Basin, Abraxas elected not to drill the Crusch 2-33 due to overly onerous lease.
In the Williston Basin, Abraxas elected not to drill the Crusch 2-33 due to overly onerous lease renegotiation terms. The drilling on the Christensen 12-2 was postponed until the second quarter of 2014. Also in the Williston Basin, drilling on the Lillibridge West pad was completed a month ahead of schedule bringing forward originally planned 2014 CAPEX on the company's 76% working interest Jore Federal East pad into 2013. Furthermore, in order to ensure a safe operating environment, Abraxas elected to shut in the Jore 3H well during the drilling process of the Jore 1H, 2H and 4H. The Jore 3H well produced approximately 123 boepd net to Abraxas before being shut in.I find no record of a "Crusch" well in North Dakota, so it's very possible this would have been a site in Montana.
Abraxas recently monetized the Bakken and Three Forks rights on the company's Fairview Prospect in Richland County, Montana and McKenzie County, North Dakota for $10.6 million in cash and the reversal of $0.3 million in accrued payables for total proceeds of $10.9 million. The sale consists of approximately 2,563 net acres and does not have any associated production. Abraxas plans on redeploying these proceeds into more core acreage and development in the Bakken and Eagle Ford.
30-second soundbite: sells 2,563 non-producing Bakken acres in its Fairview Prospect, Montana (Richland County) and North Dakota (McKenzie County) for $10.9 million ($4,250/acre).
There was a rancher by the name of Faye Crusch who used to have a ranch North of Bainville That well is probably on his old ranch
ReplyDeleteI appreciate that; thank you. Despite my November 9th note, I still think it was a Montana well/location (oil companies tend not make typographical errors when reporting well names).
DeleteOn another note: Bainville brings back wonderful memories. I had the opportunity to spend many wonderful Sunday afternoons in the "back woods" outside of Bainville enjoying the outdoors and driving an old red fire engine. And spotting deer. Great memories. Life is too short. And the teenage years go by too quickly.