- superfracks will become the norm in the Williston Basin: > 10 million lbs of sand
- superfracks + best locations --> EURs of 1.5 million boe (and heading higher)
- infrastructure in place in the Williston Basin (but still transportation costs impact)
- although WLL gives equal billing on cover slide to Niobrara and Bakken, the Bakken accounts for 91% of WLL's Rocky Mountain (Niobrara/Bakken) production)
- either Niobrara falls by the wayside, or there's a lot of potential there
- ranking #1 among peers for 90-day average rate of production is quite incredible considering one of the peer competitors is EOG
Cover slide: bills itself as the premier Bakken and Niobrara operator.
Summary for 3Q16:
- net cash generated by operating activities: $151 million; exceeds CAPEX of $66 million
- production at high end of guidance: 119,890 boe/d
- LOE below low end of guidance: $7.98 / boe
- Williston Basin fracks: 5 million + lbs track 900,000 boe type curves after 265 days
- Williston Basin fracks: 10 million + lbs tracks 1.5 million boe type curves
- thirteen (13) new McKenzie wells test at average rate of 3,727 boe/d
- announced sale of Dakota Midstream assets for ~ $375 million
- Bakken / Three Forks
- 105,645 boe/d (3Q16) ( 105,645 / 116,590 = 91%)
- Niobrara A, B, C & Codell / Ft Hays
- 10,945 boe/d (3Q16)
- 443,125 net acres
- 99% held by production
- development plan
- 1,280-acre spacing units
- targeting 900,000 bbls boe EURS
- 5,471 potential gross drilling locations
- forecast: 22 DUCs at end of CY16
- completed well cost (CWC): $6.8 million
- P Bibler 155-99-16-31-30-1H (#29693); 2,674 boe/d; 10 million lbs; tracking at 1.5 million boe EUR
- Carscallen 31-14-4H (#32340); 2,766 boe/d; 13.6 million lbs; tracking at well over 1.5 million boe EUR
- Rolla Federal unit: 13 wells
- Bakken average: 3,445 boe/d (3 wells)
- Three Forks average: 3,8012 boe/d (10 wells)
- Mountrail: 172,888; 18% of total locations
- McKenzie: 165,319; 28%
- Williams: 147,208; 32%
- Stark: 87,084; 6%
- Dunn: 55,385; 8%
- Rolla Federal 11-3-1TFHU; 10 million lbs
- graph shows impact of "flowing back frack load"
- tracking well above 1.5 million boe EUR
- #1
- peers include: Newfield, Oasis, EOG, QEP, XTO, Hess, BR, and SM Energy
- source: NDIC
- range: 1,080 (WLL) all the way down to 374
- steady decline since 1Q12
- 3Q16: 14.64 days
- 1Q12: 39.43 days
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