Slide 13, Hess presentation, 2014 Annual Meeting of Stockholders, May 7, 2014
From the slide:
- 640,000 net acres
- estimated recoverable resource: ~ 1.2 billion boe
- 1,200,000,000 boe / 640,000 acres = 1,875 boe / acre ?
- 1,280 acres x 1,875 boe / acre = 2.4 million boe -- just saying; or,
- 640 acres x 1,875 boe / acre - 1.2 million boe -- just saying....
- the "announced" EURs:
- in general: 350,000 to 600,000 bbls
- CLR: 603,000 bbls
- EOG: trending toward 900,000 bbls
- Filloon, in the best Bakken: 1 million bbls
- 640,000 net acres
- > 3,000 total operated drilling locations
- 640,000 / 3,200 locations = 200 acre-downspacing (compare this number with downspacing figures below the asterisks below)
- 1,280-acre spacing unit / 6 middle Bakken wells = ~ 200 acre-downspacing
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Downspacing? Look at some interesting cases from the June NDIC Hearing Dockets:
- 22551, CLR, Chimney Butte-Bakken, 16 wells on each existing 1280-acre unit within Zones I, II, III, IV and V; 32 wells on each 2560-acre unit in Zones VI, VII, VIII, IX, and X; Dunn
- 22564, Newfield, Sand Creek-Bakken, 8 wells on each of two 640-acre units; 8 wells on each of two 1280-acre units, McKenzie
- 22565, Newfield, Westberg-Bakken, 3 wells on one 640-acre unit; 8 wells on one 640-acre unit; 8 wells on each of three 1280-acre units; McKenzie
- 22586, Slawson, Clarks Creek-Bakken, 14 wells on an existing 640-acre unit; McKenzie
- 22588, CLR, Edge-Bakken, 14 wells on an existing 1280-acre unit, McKenzie
2560 / 32 = 80-acre spacingThere seems to be a trend.
640 / 8 = 80-acre spacing
1280 / 14 = 90-acre spacing
1280 / 16 = 80-acre spacing
Oh, I missed one. I am not making this up, unless I made a typo. But if there is no typo, look at case 22586, Slawson, privately held (deep pockets?) is looking to put 14 wells on a 650-acre unit:
640 / 14 = 45-acre spacingThese fields are some of the best, and they may not even be the best fields.
Oh, don't forget EOG:
Remember: in May, 2014, EOG requested permission to drill 32 wells on a single 640-acre section:
640 / 32 = 20-acre spacingCompare this downspacing with the BOTPE figures for Hess up above (200-acre spacing).
I track the Westberg oil field here. Here are a couple of updates from the Westberg oil field:
July 12, 2013: Whiting with two huge wells:
October 12, 2011: incredible Westberg well:
- 22388, 4,956, Whiting, Skaar Federal 41-3-3H, Westberg, middle Bakken; Pioneer 74 Flex rig; gas averaged 276 through the lateral but spiked to 3,895 units and above; did not see completion data; t6/13; cum 244K 4/14 @10,000 bbls per month oil.
- 22386, 4,456, Whiting, Skaar Federal 41-3-1H, Westberg, middle Bakken; Pioneer 74 Flex rig; gas averaged 484 throughout the lateral, but spikes of 7,000 units and above were noted; did not see completion data; t6/13; cum 213K 4/14; @13,000 bbls per month oil.
- 18691, 3,731, Newfield, Wisness Federal 152-96-4-2H --- 35,849 bbls in first 25 days. Okay. Westberg field, Bakken. One section spacing. Middle Bakken at 10,573 feet. 26 stages. 2.2 million pounds of proppant; no acid. s4/11; t7/11; cumulative 61,336 bbls in 53 days (less than 2 months); total depth 16,012 feet; fracked "on time." Sand only. I.N.C.R.E.D.I.B.L.E. Cumulative 287K 4/14 @ 4,000 bbls/month oil.
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