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:

BAKKEN	11-2008	25	4837	5073	910	2118	0	2118
BAKKEN	10-2008	31	4734	4304	840	2073	0	2073
BAKKEN	9-2008	24	4197	4072	993	1838	0	1838
BAKKEN	8-2008	27	6092	5828	2573	2668	0	2668

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):

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2014	31	22074	22065	8613	19059	7862	8653
BAKKEN	9-2014	23	19564	19734	10275	17440	4240	10975
BAKKEN	8-2014	19	13230	13194	4390	11511	3464	7935
BAKKEN	7-2014	0	0	0	0	0	0	0
BAKKEN	6-2014	6	336	188	44	314	15	232
BAKKEN	5-2014	31	1424	1420	240	1460	891	383
BAKKEN	4-2014	30	1376	1452	221	1349	858	311
BAKKEN	3-2014	31	1277	1240	218	1165	479	500
BAKKEN	2-2014	28	1222	1135	184	1280	745	367
BAKKEN	1-2014	31	1358	1584	222	1351	861	312

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:

BAKKEN	7-2009	27	5312	5166	1065	5339	0	5339
BAKKEN	6-2009	27	6602	6878	2175	5613	0	5613
BAKKEN	5-2009	2	577	0	517	490	0	490

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

BAKKEN	6-2012	19	0	235	3	114	0	0
BAKKEN	5-2012	3	222	0	38	163	82	78
BAKKEN	4-2012	1	54	0	0	79	68	5
BAKKEN	3-2012	20	1320	1528	222	1499	1154	235
BAKKEN	2-2012	29	1980	1812	577	1804	1221	409

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):

BAKKEN	7-2014	12	15072	15372	1409	2268	1621	422
BAKKEN	6-2014	30	21773	21909	3624	4785	2827	1555
BAKKEN	5-2014	13	20869	20384	2069	2361	0	2284

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

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2014	28	15631	15544	4471	13446	1887	9725
BAKKEN	9-2014	30	17830	17791	5994	15282	654	12543
BAKKEN	8-2014	21	11365	11595	5477	12481	2746	9618
BAKKEN	7-2014	9	8425	7968	1088	7206	0	7157
BAKKEN	6-2014	0	0	42	0	0	0	0
BAKKEN	5-2014	27	1083	977	241	1087	567	364
BAKKEN	4-2014	30	1232	1371	158	1316	903	239
BAKKEN	3-2014	31	1287	1123	168	1341	936	226
BAKKEN	2-2014	28	1050	927	139	1045	734	143
BAKKEN	1-2014	31	739	933	73	801	495	126

Production profile after initial test:

BAKKEN	5-2009	31	3460	3342	357	2522	0	2522
BAKKEN	4-2009	30	3110	3197	320	2485	0	2485
BAKKEN	3-2009	31	3666	3438	398	2962	0	2962
BAKKEN	2-2009	28	3820	3803	462	3056	0	3056
BAKKEN	1-2009	25	4308	4464	532	3396	0	3396
BAKKEN	12-2008	25	5406	4941	1561	4319	0	4319
BAKKEN	11-2008	12	233	0	97	186	0	186

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

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2014	31	8363	8457	7308	8748	2571	4800
BAKKEN	9-2014	20	5458	5417	7491	7729	4193	2401
BAKKEN	8-2014	21	4547	4647	1551	3164	920	2200
BAKKEN	7-2014	24	10174	10543	0	7338	53	7211
BAKKEN	6-2014	7	6029	5484	0	4085	589	3456
BAKKEN	5-2014	0	0	0	0	0	0	0
BAKKEN	4-2014	1	1	265	40	3	2	1
BAKKEN	3-2014	20	1103	1124	106	719	101	529
BAKKEN	2-2014	28	1492	1327	171	1190	888	201
BAKKEN	1-2014	31	1723	1761	244	1498	1177	20

The initial production following the open hole stimulation:

BAKKEN	1-2008	31	4039	4123	562	1260	1260	0
BAKKEN	12-2007	31	4290	4333	569	3031	3031	0
BAKKEN	11-2007	30	4911	4908	734	3549	3549	0
BAKKEN	10-2007	31	6545	6655	1018	3661	3661	0
BAKKEN	9-2007	27	7792	7478	1670	4618	4618	0
BAKKEN	8-2007	13	4034	3754	1114	2149	2149	0

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.