Random Updates Of Total Production For EOG Wells -- Idle Chatter On A Long Weekend

Just for the fun of it, I've updated the cumulative production for EOG wells for permits for 2009, 2008, 2007, and 2006. Not everything has been updated, but enough to get an idea of what is happening.

When one looks at these figures, remember that EOG was drilling short laterals in their Parshall oil field at this time. Most of their wells are short laterals. These wells were drilled before they began their new completion techniques.

It will be interesting to see which wells hit the one-million mark the fastest.These are just a few examples of permits issued in 2008; the wells were drilled in 2008 and 2009.

• 17500, 2,162, EOG, Austin 19-30H, Parshall, t11/08; cum 791K 11/13;
• 17470, 1,334, EOG, Austin 17-20H, Parshall, t6/09; cum 594K 11/13;
• 17416, 1,124, EOG, Austin 16-19H, Parshall, t7/09; cum 701K 11/13;
• 17386, 2,205, EOG, Austin 15-17H, Parshall, t11/08; cum 556K 11/13;
• 17346, 1,853, EOG, Austin 13-08H, Parshall, t10/08; cum 516K 11/13;
• 17287,  1,137, EOG, Austin 22-31H, Parshall, t10/08; cum 810K 11/13;

If you go to the linked article, some notes:

• I only provided "full" data for wells with total production of 500,000 bbls (or thereabouts)
• it may be hard to read, but the total production, as an example, of 55K means 55,000 bbls
• I did not provide the completion date for most of the wells but one can assume they were all drilled in 2009 or before
• there may be typographical errors; I don't spend a lot of time making these lists
• note that once wells got to about 100,000 bbls, these wells were paid for
• wells that are "not" economical are still holding the leases by production

Additional comments:

During the initial boom years in the Bakken, EOG had several rigs working in their Parshall oil field, but then they took ALL (or almost all) rigs off the field for a period of time. I forget exactly when, but it was probably when they were delineating the rest of the Bakken and beginning their move into the Eagle Ford. During that same period, Whiting remained pretty consistent with having 5 to 7 rigs in their Sanish field at all times.

EOG stated during their 3Q13 earnings call they were going to ramp up in the Bakken again (I can't recall if they specifically said which field). They now have ten rigs operating in their Parshall field. I believe that is the most EOG rigs I have ever seen in that field.

Past EOG wells in the Parshall have all been short laterals. The field is now spaced for 1280-acre drilling units. There are currently no 2560-acre drilling units in the Parshall.