Oasis Reports Another Great Bakken Well; Add In The Natural Gas And It's Quite A Well -- January 4, 2017

This is mostly being posted for newbies. This well is not unremarkable among the wells now being reported in the Bakken.

This well came off the confidential list over the long weekend.

Note that this well produced more than 100,000 bbls of oil in less than six months (actually, less than five months).

It should also be noted that not a particularly large amount of proppant was used. This is the amount of proppant that Statoil (BEXP)  has used for years in the Bakken, unlike some operators who have ramped up to 10 million lbs (and even more).

The number of stages for fracking in the Bakken appears to be about 36 as the "norm"; we still see a fair number of wells fracked with 24 stages but the number of wells below 36 stages seems to be decreasing. On the other hand, we are starting to see more wells fracked with 50+ stages.

Also, note the incredible amount of natural gas produced. Unfortunately, it is not yet all being captured/processed/sold, but 60,000 MCF translates to 10,000 boe which could be added to the 20,000 bbls of crude oil produced in the early months.

• 31333, 247, Oasis, Johnsrud 5198 12-18 10T, Three Forks Bench 1, Siverston, in McKenzie County, 36 stages, 4.1 million lbs, t7/6; cum 103K 11/16;

NDIC File No: 31333     API No: 33-053-06981-00-00  
Well Type: OG     Well Status: A     Status Date: 7/3/2016     Wellbore type: Horizontal
Location: NENW 18-151-98    Latitude: 47.905130     Longitude: -103.274861
Current Operator: OASIS PETROLEUM NORTH AMERICA LLC
Current Well Name: JOHNSRUD 5198 12-18 10T
Elevation(s): 2159 KB   2134 GR   2141 GL     Total Depth: 20867     Field: SIVERSTON
Spud Date(s):  8/28/2015
Completion Data
   Pool: BAKKEN     Perfs: 11504-20862     Comp: 7/3/2016     Status: GL     Date: 10/7/2016     Spacing: 2SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 103451     Cum MCF Gas: 215887     Cum Water: 160041
Production Test Data
   IP Test Date: 7/8/2016     Pool: BAKKEN     IP Oil: 247     IP MCF: 424     IP Water: 3882

 

Monthly Production Data

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2016	30	19154	19141	20984	46464	17504	28780
BAKKEN	10-2016	27	23026	23070	23775	58044	40670	17374
BAKKEN	9-2016	27	26236	26185	27526	47728	25296	22270
BAKKEN	8-2016	31	21023	20983	29063	39573	31361	8026
BAKKEN	7-2016	27	14012	13958	58693	24078	19278	4638