NET ACREAGE
Let's compare WLL acreage in the Williston Basin according to their June, 2014, corporate presentation with their net acreage back in 2012.
June, 2014:
- Net Bakken acreage (ND/MT): 683,804
- Sanish/Parshall Prospect: 82,445
- Lewis and Clark: 117,590
- Pronghorn: 125,630
- Hidden Bench: 37,314
- Tarpon: 6,265
- Starbuck: 42,932
- Missouri Breaks: 65,869
- Cassandra: 13,949
- Big Island: 137,559
- Net Bakken acreage (ND/MT): 697,259, 2Q12
- Sanish / Parshall Prospect: 82,400 in June, 2013
- Lewis and Clark: 134,034, July, 2013
- Pronghorn: 128,596, July, 2013
- Hidden Bench: 28,832, June, 2013
- Tarpon: 6,258, June, 2013
- Starbuck (in Montana, west of Williston): 89,815, July, 2013
- Missouri Breaks (in Montana, west of McKenzie County): 57,526, July, 2013
- Cassandra: 13,951, July 2013
- Big Island: 125,795, July, 2013
HIGHLIGHTS IN THREE FIELDS
- Missouri Breaks, Montana: Skov 31-28-3H, 1,607 boepd (WLL Field Records) coiled tubing frack
- Hidden Bench: cemented liner completions 15 wells; average IP: 2,643 boepd
- Cassandra: Kaldohl 11-3H, 1,930 boepd (WLL Field Record); cemented liner
For newbies: remember when we got excited about IPs of 750 in the Bakken back in 2007?COMPLETIONS
Completion methods
- older method, sliding sleeve, 30 stages, one frack per port = 30 potential entry points
- newer method, cemented liner completion, 40 stages, 3 perforation clusters per stage = 120 potential entry points
- all four wells in same drilling unit; parallel each other; same length
- Skov 31-28-1H, open, sliding sleeve, 30 stages, 30 entry points: 927; cost: $7.90 million
- Skov 31-28-2H, cemented, P&P - 3 clusters/stage, 30 stages; 90 entry points: 1,072; cost: $8.10
- Skov 31-28-4H, cemented, P&P, 5 clusters/stage, 30 stages; 150 entry points, 1,219; cost: $8.10
- Skov 31-28-3H, cemented, coiled tube, 60 stages + 5P&P; 85 entry points; 1,607; cost: $8.80
- Missouri Breaks: 8 wells / drilling spacing unit
- Cassandra: 12
- Sanish: 15
- Hidden Bench: 16
- Pronghorn: 6
- Tarpon: 12
In the Pronghorn, they currently are drilling three wells in that formation; high density infills is a possibilty, playing a horizontal between each existing horizontal for a total of 6 horizontal wells in the PronghornFINANCES
- 1Q14: $80.00/boe
- 16: lease operating expense
- 8%: production taxes
- 5%: G&A
- 3%: exploration expense
- EBITDA: 68% ($54.31/boe)
- 2009: $576 million
- 2010: $1.016 billion
- 2011: $1.315 billion
- 2012: $1.472 billion
- 2013: $1.863 billion
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