Wells Coming Off Confidential List Over The Weekend, Monday -- North Dakota, August 9, 2015

Monday, August, 10, 2015

• 27124, 1,053, EOG, Parshall 43-2117H, Parshall, ICO, 28 stages, 5.7 million lbs, t2/15; cum 62K 6/15; choked back
• 28769, 941, Oasis, Langved 5393 12-3 7B, Sanish, t5/15; cum 43K 6/15;
• 29289, 480, CLR, Raleigh 7-20H, Dollar Joe, 4 sections, t3/15; cum 30K 6/15;
• 29433, SI/NC, BR, Kings Canyon 4-1-27MTFH, Camel Butte, no production data,
• 29517, SI/NC, BR, LaCanyon 8-8-34MBH ULW, Blue Buttes, no production data,
• 29626, 327, Oasis, Osen 6192 43-21T, Foothills, t3/15; cum 36K 6/15;
• 30074, 981, Slawson, Howo 2-4-33MLH, Big Bend, 31 stages, 4.5 million lbs, t4/15; cum 9K 6/15;
• 30420, SI/NC, XTO, Evelyn 31X-3DXA, Lindah, no production data,

Sunday, August 9, 2015

• 27646, 2,511, HRC, Fort Berthold 148-95-26A-35-14H, Eagle Nest, t2/15; cum 93K 6/15;
• 28638, 587, EOG, Parshall 91-28H, Parshall, one section, 25 stages, 5.8 million lbs, t2/15; cum 78K 6/15;
• 29728, 892, Hess, EN-Weyracuh B-154-93-3031H-9, Robinson Lake, t7/15; cum 5K 6/15;
• 29904, 1,066, XTO, Elk Horn Federal 44X-36BXC, Morgan Draw, 4 sections, t5/15; cum 19K 6/15;
• 30256, SI/NC, XTO, Tobacco Garden 11X-17E, Tobacco Garden, no production data,
• 30330, DRL, SM Energy, Beth 4B-14HS, West Ambrose, no production data,

Saturday, August 8, 2015

• 25362, 1,933, Whiting, Smokey 4-15-22-13H3, Pembroke, t6/15; cum 20K 6/15;
• 27275, drl, Petro-Hunt, Klatt 145-97-18A-19-2H, Little Knife, no production data,
• 27703, DRY, Ballard Petroleum, Middaugh 33-23, wildcat, a Madison well, north and east of Minot;
• 29288, 437, CLR, Raleigh 6-20H1, Dollar Joe, pt3/15; cum 29K 6/15;
• 30329, drl, SM Energy, Maria 4b-14HN, West Ambrose, no production data,
• 30566, SI/NC, Statoil, Folvag 5-8-XW 1TFH, Cow Creek, no production data,

When you look at this list, some things to think about:

• the length of this list is pretty impressive; compare to the early days of the Bakken boom when they were drilling as fast as they could to hold leases by production; that urgency is no longer needed, and the list is still pretty long
• October, 2014, is when things started breaking down; these wells were put on the confidential list 6 months ago (usually about the time they were spud); six months ago was February, 2015, middle of winter, and well into the slump in oil prices, and yet the list if pretty long
• note the breadth of names; not just EOG and CLR, but also BR, SM, Oasis, Slawson, Ballard
• look at the number of wells now reporting an IP; a huge change from just a month ago; take BR out of the equation (they almost always got to DRL status and Ballard, and we have eleven (11)
• out of 20 wells with production numbers (maybe more when we see the list tomorrow); they're starting complete more wells
• the production numbers are very, very good
• the breadth of the oil fields involved; not just the Parshall and the Sanish, but some we haven't seen in a long time: Cow Creek, Morgan Draw, Pembroke, Big Bend, Foothills

I happened to talk to two folks working in the oil business in Texas (both small independents; one public, one private): one is involved in a pretty big acquisition deal in the Permian, and the other is hiring geologists to focus on the Permian. This doesn't sound like a depression; maybe a severe recession, but the US oil and gas industry is pretty solid, based on the little I know.

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She Has Four Front Teeth 
Two On The Top, Two On The Bottom

After eating most of my potato salad, she then wanted my ear of corn: