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Saturday, December 20, 2014

Random Update Of An MRO-Re-Fracked Well, 16778 -- December 20, 2014

Production profiles of an MRO re-fracked well:
  • 16778, 354, MRO, Jack Pennington 21-28H, Reunion Bay, 0 stages; 524,020 lbs, t8/08; cum 177K 10/14;
Note: I have not seen the actual data of what MRO did most recently, but I am assuming MRO re-fracked the well (or in a sense, fracked it for the first time). However, according to the sundry form, MRO reported "0" stimulation stages and 524,020 pounds of proppants when they completed this well.

Production profile of this well when it was first completed and started producing:

BAKKEN11-20082548375073910211802118
BAKKEN10-20083147344304840207302073
BAKKEN9-20082441974072993183801838
BAKKEN8-200827609258282573266802668


This is the production profile of the well after MRO re-fracked or whatever they did with the well (note only 19 days in August, and production 13,000 bbls):

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-201431220742206586131905978628653
BAKKEN9-20142319564197341027517440424010975
BAKKEN8-201419132301319443901151134647935
BAKKEN7-20140000000
BAKKEN6-201463361884431415232
BAKKEN5-201431142414202401460891383
BAKKEN4-201430137614522211349858311
BAKKEN3-201431127712402181165479500
BAKKEN2-201428122211351841280745367
BAKKEN1-201431135815842221351861312

Update Of An MRO Re-Fracked Well, 16772 -- December 20, 2014

Another MRO re-fracked well:
  • 16772, 400, MRO, Pennington 41-4H, Reunion Bay, it appears the first frack was open hole, 386,420  pounds sand, t6/09; cum 195K 10/14; 
Production profiles at three points in this well's short life:

This was the production profile the first few months after the well was completed and went on-line:

BAKKEN7-200927531251661065533905339
BAKKEN6-200927660268782175561305613
BAKKEN5-2009257705174900490

This was the production profile in early 2012, about three years later:

BAKKEN6-2012190235311400
BAKKEN5-201232220381638278
BAKKEN4-20121540079685
BAKKEN3-2012201320152822214991154235
BAKKEN2-2012291980181257718041221409

This was the production profile after the re-frack or whatever was done earlier this year (note, in July the well produced for only 12 days, producing 15,000 bbls):

BAKKEN7-2014121507215372140922681621422
BAKKEN6-20143021773219093624478528271555
BAKKEN5-20141320869203842069236102284

Update Of An MRO Re-Fracked Well, 16686 -- December 20, 2014

A re-fracked MRO well:
  • 16686, 379, MRO, Shobe 24-20H, Reunion Bay, it appears the first frack was open hole, 511,700  pounds sand, t12/08; cum 161K 10/14;
NDIC File No: 16686    
Well Type: OG     Well Status: A     Status Date: 11/17/2008     Wellbore type: Horizontal
Location: SESW 20-151-93     Latitude: 47.878236     Longitude: -102.614987
Current Operator: MARATHON OIL COMPANY
Current Well Name: SHOBE 24-20H
Total Depth: 19694     Field: REUNION BAY
Spud Date(s):  9/22/2008
Completion Data
   Pool: BAKKEN     Perfs: 11020-19694     Comp: 11/17/2008     Status: AL     Date: 11/25/2009     Spacing: 2SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 160946     Cum MCF Gas: 156849     Cum Water: 33876
Production Test Data
   IP Test Date: 12/16/2008     Pool: BAKKEN     IP Oil: 379     IP MCF: 303     IP Water: 55
Monthly Production Data
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-201428156311554444711344618879725
BAKKEN9-201430178301779159941528265412543
BAKKEN8-201421113651159554771248127469618
BAKKEN7-20149842579681088720607157
BAKKEN6-201400420000
BAKKEN5-20142710839772411087567364
BAKKEN4-201430123213711581316903239
BAKKEN3-201431128711231681341936226
BAKKEN2-20142810509271391045734143
BAKKEN1-20143173993373801495126

Production profile after initial test:

BAKKEN5-20093134603342357252202522
BAKKEN4-20093031103197320248502485
BAKKEN3-20093136663438398296202962
BAKKEN2-20092838203803462305603056
BAKKEN1-20092543084464532339603396
BAKKEN12-200825540649411561431904319
BAKKEN11-2008122330971860186

Update Of A Re-Fracked MRO Well, 16626 -- December 20, 2014

A re-fracked MRO well:
  • 16626, 289, MRO, Kupper 34-10H, Chimney Butte, it appears the first frack was open hole, 477,920 pounds sand, t9/07; cum 195K 10/14;
Re-frack data: 6/12/2014: 30 stages; 1.5 million lbs sand;

API: 33-025-00629. FracFocus: 6/1 - 2/2014: 1.643 million gallons of water; 86% water; 13% sand by mass;

NDIC File No: 16626   
Well Type: OG     Well Status: A     Status Date: 8/9/2007     Wellbore type: Horizontal
Location: SWSE 10-146-95   Latitude: 47.475274     Longitude: -102.765502
Current Operator: MARATHON OIL COMPANY
Current Well Name: KUPPER 34-10H
Total Depth: 19255     Field: CHIMNEY BUTTE
Spud Date(s):  6/9/2007
Completion Data
   Pool: BAKKEN     Perfs: 11117-19255 OH     Comp: 8/9/2007     Status: AL     Date: 5/16/2008     Spacing: 2SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 194687     Cum MCF Gas: 177963     Cum Water: 41214
Production Test Data
   IP Test Date: 9/2/2007     Pool: BAKKEN     IP Oil: 289     IP MCF: 218     IP Water: 124
Monthly Production Data
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-201431836384577308874825714800
BAKKEN9-201420545854177491772941932401
BAKKEN8-20142145474647155131649202200
BAKKEN7-201424101741054307338537211
BAKKEN6-2014760295484040855893456
BAKKEN5-20140000000
BAKKEN4-20141126540321
BAKKEN3-20142011031124106719101529
BAKKEN2-201428149213271711190888201
BAKKEN1-201431172317612441498117720

The initial production following the open hole stimulation:

BAKKEN1-20083140394123562126012600
BAKKEN12-20073142904333569303130310
BAKKEN11-20073049114908734354935490
BAKKEN10-200731654566551018366136610
BAKKEN9-200727779274781670461846180
BAKKEN8-200713403437541114214921490

MRO Re-Fracking Progam -- December 20, 2014

This post is NOT complete.

Updating the MRO re-fracking story.

For those who may have missed the earlier story, here's the link. Slide 14 at the MRO presentation provides additional background. Many of these presentations "disappear" over time.

A reader has sent me several notes regarding the MRO story. I feel very guilty not doing those notes justice -- my poor excuse is I'm traveling and don't stop much to blog.

I will come back to this later. The reader went through the MRO presentation of 3Q14; from slide 9 came up with these wells that might have been potential candidates for re-fracking. It will be interesting, later to compare this list with mine. I will fill in the well data for the file numbers below, later. If I put the file number in bold red, it means it was on my original list (but remember, this list is for 3Q14; my original list was back in July, 2011; a lot has happened between now and then:

16626, 289, MRO, Kupper 34-10H, Chimney Butte, it appears the first frack was open hole, 477,920 pounds sand, t9/07; cum 195K 10/14; another link; re-frack link;
16686, 379, MRO, Shobe 24-20H, Reunion Bay, it appears the first frack was open hole, 511,700  pounds sand, t12/08; cum 161K 10/14; re-frack link; see this post;
16772, 400, MRO, Pennington 41-4H, Reunion Bay, it appears the first frack was open hole, 386,420  pounds sand, t6/09; cum 195K 10/14; re-frack link;
16778, 354, MRO, Jack Pennington 21-28H, Reunion Bay, 0 stages; 524,020 lbs, t8/08; cum 177K 10/14; re-frack link;
16940, 299, MRO, Kupper 43-10H, Chimney Butte, t4/08; cum 168K 10/14; see this link;
17176, see this link;
17314, see this link;
17333, see this link;
17350, 522, MRO, Strommen 14-8H, Killdeer, t10/08; cum 181K 10/14;
17502, 637, MRO, Mark Sandstrom 14-32H, Reunion Bay, t12/08; cum 290K 10/14; see this link;
17537, 503, MRO, David Beck-USA 24-7H, Bailey, t12/08; cum 165K 10/14;
17556, 553, MRO, Debb Stroh 44-11H, Killdeer, t12/08; cum 180K 10/14; see this link;
17753, 553, MRO, Strommen 34-8H, Killdeer, t6/09; cum 193K 10/14; see this link;
17771, 585, MRO, Jay Sandstrom USA 34-3H, t3/09; cum 244K 10/14; see this link;
17966,
18042,
18384,
20692,
21466,
22113,

The reader mentioned that MRO re-completed 16 wells in 3Q14.

The reader noted that for one well:
If you have a decline curve model, you can calculate IRRs in a spread sheet, given various cost and estimated prices.  I would estimate 17753 well IRR of about 30 percent, given refrac cost of $1.5MM and realized prices of $50/bbl.  That is not bad given today's pricing.

Only Three Of Four International Oil Companies Generating Free Cash Flow At $60-Oil

Link at Rigzone.
Only three out of the top four international oil companies generate enough free cash flow to cover spending, including shareholder distributions, in a $60/barrel environment.
As a result, spending would need to be cut by $170 billion, or 37 percent year-on-year, at $60/barrel to keep net debt flat. The recent decline in global oil prices has prompted a number of oil and gas companies to cut 2015 spending plans.
Marathon Oil Corp. reported Wednesday that it would lower its 2015 capital expenditures by 20 percent due to the sharp decline in oil prices. Other companies such as ConocoPhillips also have adjusted their budgets to reflect lower oil prices. 
Much more at the link.

******************************
Norway Delays Arctic-Focused Oil Licensing Round Until 2015

Link to Reuters story at Rigzone
Norway's government has delayed the launch of its Arctic-focused oil and gas licensing round until next year, the oil ministry said on Friday.
The delay comes after oil prices tumbled by 45 percent over the past six months, forcing energy companies to slash capital spending and cut back on exploration.
"Most exploration and production companies are now turning every stone to find ways to postpone investments or cut costs. The Ministry may have seen that these are challenging times for the industry and the timing for a new license round is a bit poor."
The ministry did not give a reason for the delay and did not specify when the licensing round would be launched in 2015. It will be the first time the government hands out blocks in the Arctic zone bordering Russia.