Thursday, October 13, 2016

Follow-Up: Some Great Whiting Wells Are Being Taken Off-Line In The Bakken-- October 13, 2016

On October 3, 2016, I made this observation: some great Whiting wells are being taken off-line.

So, what did the monthly production report out of North Dakota show?

First, look at the screen shot of Twin Valley oil field, pretty much "owned" by Whiting where they have some of their best best wells and some of their record-setting wells. Note all the wells that have been shut in and/or report zero bbls of production in the month of August:


Now, how did that compare from the previous month, and how did that compare to other top fields with a decrease in production?

In this screenshot, the wells are ranked in order based on the last column: production decrease month-over-month, August production per well vs July production per well. Note that in most cases, the number of wells remained constant. In Twin Valley, the number of wells did not change (18) but sixteen of them were shut in or had no production whatsoever; all sixteen of these wells were Whiting wells.

Field
July 2016 Production
July Wells
July Oil/Well/Month
Percent Change June-to-July
August 2016 Production
August Wells
AugustOil/Well/Month
Percent Change July -to-August
Twin Valley
43,812
18
2,434

4,223
18
235
-90.36%
Jim Creek
137,007
53
2,585

100,235
53
1,891
-26.84%
Elm Tree
133,359
31
4,302
-0.71%
98,243
31
3,169
-26.33%
Bell
241,077
67
3,598

179,319
67
2,676
-25.62%
North Tobacco Garden
113,281
44
2,575

85,853
43
1,997
-22.45%
Oakdale
64,362
24
2,682

51,476
24
2,145
-20.02%
Camp
589,582
132
4,467
16.57%
490,751
137
3,582
-19.80%
Park
61,906
36
1,720

52,328
36
1,454
-15.47%
Crazy Man Creek
191,066
44
4,342
-9.69%
162,043
44
3,683
-15.19%
Alkali Creek
483,117
141
3,426

417,891
143
2,922
-14.71%
Pembroke
91,290
52
1,756

77,874
52
1,498
-14.70%
Charlson
315,499
107
2,949

269,200
107
2,516
-14.67%
Clarks Creek
110,775
37
2,994

97,270
37
2,629
-12.19%
Grail
1,031,304
178
5,794
6.08%
907,322
178
5,097
-12.02%
Van Hook
541,306
181
2,991

487,636
185
2,636
-11.86%
Alger 
732,454
312
2,348

648,600
312
2,079
-11.45%

In Twin Valley, the number of wells remained constant but all of them, except two BR wells, were either shut in or reported no production. They were Whiting wells.

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