These data points taken from the August, 2014, presentation.
The high points for me, from this presentation as well as others:
- the wells are coming down in cost, but will likely rise again going forward due to new completion techniques
- new completion techniques: high volume proppant and SlickWater
- high volume proppant and SlickWater will add $1.5 million to 2.0 million+ to complete a well
- additional completion costs will be offset by lower drilling costs (but probably not by much)
- high volume proppant and SlickWater raising EUR curves by 35% (this number seems consistent among three operators)
- with two dedicated frack spreads, Oasis still completes less than 40% of their own wells with their own folks
- in future earnings conference calls, analysts need to be asking about the cost of shipping proppant to the Bakken
Random data points (some numbers rounded).
Bakken (Montana/ND)
- 505,960 net acres
- 17 years of inventory
- 2Q14 production: 44K boepd
- 3Q14: 47 - 49K boepd
- proved reserves: 220 mmboe/ PV-10 of $5.2 billion
- West Williston : 362,000 net acres
- East Nesson: 145,000 net acres
- highest working interest: 68% average WI
- double Oasis Well Services
- grow Oasis Midstream Services
- 16 rigs
- further TFS delineation
- loe: $8.50 - $10.00/boe
- mg&t: $1.20 - $1.60/boe
- Montana: 2
- West Williston: 8
- East Nesson: 6
- 2012: $9.7 million
- 4Q13: $7.9 million
- 1H14: $7.6 million
- vary across the Bakken: 450K boe to 750K boe
- 35% production uplift seen using SlickWater in Montana (Hebron)
- the economic boundary of the TFS is expanding (slide 10); it's possible the Cottonwood field will benefit (TF2 and TF3)
- 1st TFS well produced 37% better than comparable well
- 1st Montana well produced 35% better than Montana type curve
- 2nd frack spread at 100% utilization as of August, 2014
- 2 spreads will complete up to 40% of Oasis completions
- OWS first spread has returned 2.8x the cash invested into business since inception
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.