Sunday, May 25, 2014

Random Update Of A Chesapeake/CLR Tyler Well In Billings County; Just Taken Off-Line

  • 16219, IA/150, CLR/Chesapeake, Tracy Mountain 2-16, a Tyler well, vertical, depth of 8,281 feet; fracked with about 60,000 lbs proppant; Billings County, t8/06; cum 105K 2/14; taken off-line 2/14;
Note: this well would have been very inexpensive to drill. It was a vertical well to only 8,000 feet. It has produced over 100,000 bbls of oil in just a few years. It will be interesting to see why this well was taken off-line.

December 10, 2008: operator change from Chesapeake to Continental Resources.

First twelve months of production:

TYLER8-200731194015601396000
TYLER7-200731213122321475000
TYLER6-200730209420161377000
TYLER5-200731207819801436000
TYLER4-200730191020361523000
TYLER3-200731195617921580000
TYLER2-200728182817951462000
TYLER1-200730196620121743000
TYLER12-200629183317641779000
TYLER11-200630152917322039000
TYLER10-2006125844481487000
TYLER9-200630233123832091000
TYLER8-200630264522233466000

Most recent twelve months of production:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
TYLER3-20140000000
TYLER2-201418165211586000
TYLER1-2014313741981149000
TYLER12-2013312894211199000
TYLER11-2013257401303000
TYLER10-201315167196392000
TYLER9-2013304384251044000
TYLER8-2013314344131056000
TYLER7-2013314104151051000
TYLER6-2013303634181011000
TYLER5-2013313334261075000
TYLER4-20132720901121000
TYLER3-201322408591710000

Too Precious To Lose, Page 2

Page 1

This is page 2.

For The Archives: Primary Petroleum Is No Longer Primary Petroleum; Air America Radio Personality Ed Schultz To Drift Away

On the blog there has been an occasional reference to Primary Petroleum (PETEF.PK). Ever wonder what happened to Primary Petroleum?

The press release:
Primary Petroleum Corporation (TSX VENTURE:PIE)(PETEF) ("Primary" or the "Corporation"), and Keek Inc. ("Keek"), a private Ontario corporation, announced today that they have entered into an arm's length letter of intent dated November 15, 2013. Keek is a private global social video company that enables its users to create up to a 36 second video message (a "keek") and share it with the Keek community.
Yes, the Primary Petroleum company sold all its oil and gas assets, and was "bought" by Keek. Keek had the plan; Primary Petroleum had the cash.

At the time the deal was closed, MarketWatch reported:
Keek is a global interactive video content network which at a click of a button allows users to distribute its content in real time. A Keek is a short video (up to 36 seconds) and 111 characters of accompanying text that can be enabled thru the web, IOS, Android, Window 8 and BlackBerry 10 mobile platforms. Users can interact on Keek directly with other users through "keekbacks", the platform's unique ability to respond to a keek (short video) with a keek. These interactions can occur in either a public or private view. Private sessions can include up to 35 others. 
The Financial Post also provided a bit of background.

Before the reverse takeover, The Wall Street Journal reported:
Primary is a junior oil and gas company engaged in exploration and development activities in NW Montana and currently holds substantial land positions in both an unconventional and conventional oil play. The Company's mandate is to continue to acquire strategic opportunities in the Sedimentary Basins of the Western United States and Canada and seek out qualified industry partners to assist in the exploitation and development.
I never invested in Primary Petroleum, though I remember thinking about it at the time. And now it's an internet video content provider.

I guess it just sort of drifted away.

Drift Away, Rod Stewart

*********************************

Also drifting away:
Less than a week after Air America Radio refugee Randi Rhodes signed off with her last broadcast, libtalker Ed Schultz announced that he too is ending his radio show.
The 3-day Memorial Day weekend turned out even better than I could have imagined. LOL.

Update On A KOG Well Not Fracked For Two Years

Back on June 20, 2013, I posted something I said "was not ready for prime time." Now, we know the rest of the story.

Go back to this link to re-familiarize yourself with this well:
  • 18987, 223, KOG, Two Shields Butte 14-21-16-2HS, t4/11; cum 282K 4/13; 
There are four wells on the pad that this well is on. I will only look at this well, assuming a similar story for the others.

What surprised me was this well (and a neighboring KOG well) had some of the worst IPs I had ever seen, and was curious.

Here's the entire production history:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-2014281030410244353469036337483
BAKKEN2-2014281031010355362270386588366
BAKKEN1-20143111942119374203789767351069
BAKKEN12-20133112437127024262785759961768
BAKKEN11-20133011978117744001719740813026
BAKKEN10-20133113253132074557892526816151
BAKKEN9-201330144531446352931101357110352
BAKKEN8-2013311649016410574112938188210963
BAKKEN7-201331183201841658911322739889146
BAKKEN6-201328187991878963371391653968440
BAKKEN5-201331240822414083361406695624411
BAKKEN4-20133029922298701175619524687712557
BAKKEN3-20133039986396363353022340022251
BAKKEN2-20130000000
BAKKEN1-20130000000
BAKKEN12-201211750000
BAKKEN11-2012201478173130111801058
BAKKEN10-2012312354208120176001668
BAKKEN9-2012302050235928159601507
BAKKEN8-2012232184195327148201415
BAKKEN7-2012252176213419160101536
BAKKEN6-2012302516257644193901852
BAKKEN5-2012313038297859225702166
BAKKEN4-2012172043201728133301282
BAKKEN3-201225465615282630257
BAKKEN2-201229276527781606190301819
BAKKEN1-201231304230211913210602016
BAKKEN12-201131322232322933225902166
BAKKEN11-20112933283594774288502160
BAKKEN10-20111818091824197410870637
BAKKEN9-201121175117661818890364
BAKKEN8-2011312774290274116090834
BAKKEN7-201129255228361215810856
BAKKEN6-20113036503285410221901469
BAKKEN5-2011264007400611424701081712
BAKKEN4-201110171315351538630613
BAKKEN3-201110048000
BAKKEN2-2011132300000
BAKKEN1-20110000000
BAKKEN12-2010000089030845

1. Note the poor production history for the first two years. It turns out the well was drilled in late 2010, but was not fracked until some time later.

2. The production one sees between 12/10 and 12/12 was from an unfracked well.

3. At the time of the original post, the spacing was still "ICO" -- to be determined.

4. We now know the spacing is 640 acres. Interestingly, however, it is a long lateral but the spacing is the east half of section 16 (320 acres) and the east half of section 21 (320 acres) of 149-92.

5. The well was taken off-line November, 2012, and not brought back on-line until March, 2013. It was during this period that the well was fracked. This well has produced almost 235,000 bbls of oil since it was fracked, and the spacing was only 640 acres.

6. Although not a great well before it was fracked, nonetheless, it produced as much as some fracked wells in other parts of the Basin.

7. The IP of the unfracked well was 223 as noted above. What the scout ticket does not tell us is that the IP of the well when it was finally fracked was 2,061, 27 stages, 4 million lbs of sand.