Whiting To Report Four Nice Bakken Wells; HRC And Newfield Will Each Report A Nice Well -- March 5 2017

Monday, March 6, 2017

• 25407, SI/NC, QEP, MHA 4-10-14H-149-91, Heart Butte, no production data,
• 29790, conf, Enerplus, Saguaro 149-92-35A-04H, Heart Butte, no production data, completion data pending
• 31712, 2,274, Whiting, Rolla Federal 21-3-1H, Twin Valley, 35 stages, 7.1 million lbs, t9/16; cum 135K 1/17;
• 31948, 1,103, Whiting, Frank 44-7PHU, Bell, 44 stages, 9.2 million lbs, t9/16; cum 68K 1/17;
• 32327, 3,149, Whiting, Rolla Federal 11-3-1TFH, Twin Valley, 35 stages, 7.1 million lbs, t9/16; cum 121K 1/17;
• 32463, conf, SM Energy, Milt Sandra 15-20HS, Ambrose, no production data,

Sunday, March 5, 2017

• 31187, conf, Enerplus, Wooly Torch 149-92-35A-04H, Heart Butte, no production data,
• 31570, 644, Whiting, Hecker 11-18-2PH, Bell, 44 stages, 9.2 million lbs, t10/16; cum 49K 1/17;

Saturday, March 4, 2017

• 31161, 1,560, HRC, Fort Berthold 148-94-22A-27-11H, McGregory Buttes, 33 stages, 4.9 million lbs, t9/16; cum 115K 1/17;
• 32874, 1,511, Newfield, Helsingborg Federal 153-96-27-22-13H, Sand Creek, 51 stages, 7.6 million lbs, t12/16; cum 1/17;

The Newfield Helsingborg Federal wells are tracked here.

The Whiting Rolla Federal wells are tracked here.

Of the completion data available for six wells:

• average number of stages: 40
• average amount of sand: 7.5 million lbs

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32874, see above, Newfield, Helsingborg Federal 153-96-27-22-13H, Sand Creek:

Date	Oil Runs	MCF Sold
1-2017	18896	31511
12-2016	6528	5553

31161, see above, HRC, Fort Berthold 148-94-22A-27-11H, McGregory Buttes:

Date	Oil Runs	MCF Sold
1-2017	24436	24801
12-2016	24351	24699
11-2016	24289	27525
10-2016	19136	11421
9-2016	21655	15013

31570,  see below, Whiting, Hecker 11-18-2PH, Bell:

Date	Oil Runs	MCF Sold
1-2017	4332	5862
12-2016	15766	24243
11-2016	17799	24504
10-2016	11200	15435

32327, see above, Whiting, Rolla Federal 11-3-1TFH, Twin Valley:

Date	Oil Runs	MCF Sold
1-2017	22615	47312
12-2016	26652	55408
11-2016	27275	63813
10-2016	34140	77507
9-2016	9472	16636

31948, see above, Whiting, Frank 44-7PHU, Bell:

Date	Oil Runs	MCF Sold
1-2017	16418	23460
12-2016	11512	15883
11-2016	16589	19655
10-2016	20244	24801
9-2016	3110	3716

31712, see above, Whiting, Rolla Federal 21-3-1H, Twin Valley:

Date	Oil Runs	MCF Sold
1-2017	17631	44121
12-2016	26828	59999
11-2016	40654	94496
10-2016	38578	90326
9-2016	10553	16170

Random Update Of A Newfield Lost Bridge Federal Well -- March 5, 2017

The well:

• 17348, 901, Newfield, Lost Bridge Federal 16-9H, Lost Bridge, a Three Forks well, open hole frack; 800,000 lbs, t2/09; cum 388K 12/18;

FracFocus has no data to suggest this well was re-fracked.

Considering this well was fracked with less than 800,000 lbs of sand, a pretty good well. 

The graphic:

Full production profile at this link.

The wells:

• 32733, 2,008, t5/17; cum 201K 11/18;
• 32734, 2,654, t3/17; cum 359K 11/18;
• 32735, 2,600, t3/17; cum 342K 11/18;
• 32736, 3,031, t2/17; cum 332K 11/18;
• 19121, PNC,
• 31735, 2,143, t9/16; cum 400K 11/18;
• 31733, 1,461, t9/16; cum 318K 11/18;
• 31734, 1,693, t9/16; cum 323K 11/18;
• 31732, 1,681, t9/16; cum 350K 11/18;
• 17348, see above,

Random Update Fracking Sand Amounts; Note The Bakken Well That Was Fracked With More Than 27 Million Lbs Of Sand -- March 5, 2017

This post is almost all personal opinion; many will disagree with me no doubt but for now, it's my worldview of the Bakken with regard to this subject. Take it with a grain of fracking sand.

There have been a few articles recently on the amount of fracking sand used in the Bakken. It seems to me it varies widely from operator to operator. Many operators are still using 4 million lbs; others are trending a bit higher but staying below 10 million lbs; I am starting to see at least one operator using 20+ million lbs (I often forget to check the length of the horizontals -- I will try to remember to point out 3-section laterals -- super-long laterals -- which can obviously affect the amount of proppant used; fortunately, 3-section -- super-long laterals -- are fairly rare).

The best way to compare wells is by the amount of proppant used per foot but that takes a bit more time: for the Bakken, in general, one can assume the horizontals are two-sections long, about 9,000 feet.

Look at the test date on an early well and the test dates of the three more recent wells and compare the amount of proppant EOG used in these sand fracks. Among the Bakken operators, EOG has talked often about the sand pits it owns. For these wells, I have included the depth of the wells:

• 31403, 1,447, EOG, West Clark 117-0136H, Clarks Creek, 36 stages, 27.65 million lbs t5/16; cum 201K 1/17; 18,217 feet;
• 31248, 1,272, EOG, West Clark 104-0136H, Clarks Creek, 36 stages, 21.029 million lbs; t5/16; cum 122K 1/17; 18,185 feet;
• 31247, 1,613, EOG, West Clark 103-0136H, Clarks Creek, 37 stages, 21.15 million lbs; t5/16; cum 148K 1/17; 17,965 feet;
• 20329, 1,203, West Clark 4-2425H, Clarks Creek, 34 stages, 9.12 million lbs, t5/13; cum 303K 1/17;(18 days in January, 2015); 19,594 feet;

It seems like the analysts are concerned about the cost of proppant. From my vantage point, the cost of sand is the least thing to be concerned about in the overall cost of the well (benefit vs cost analysis). The cost of resin-coated proppant may be a different story, but I still think the cost of sand is over-hyped. Just a personal opinion.

I track Clarks Creek here, but it needs to be updated.

A reminder: a contributor over at SeekingAlpha provided a great analysis of wells based on the amount of proppant used.

By the way, it would take more than one unit train to carry 28 million lbs of sand.

The Lizzie Rae Wells In Lone Butte

The wells, from west to east on a single pad, first updated March 5, 2017:

• 32597, conf, Sinclair, Lizzie Rae 8-17-7TFH, Lone Butte, no production data,
• 32596, conf, Sinclair, Lizzie Rae 8-17-6TFH, Lone Butte, no production data,
• 32595, conf, Sinclair, Lizzie Rae 8-17-5TFH, Lone Butte, no production data,
• 32594, conf, Sinclair, Lizzie Rae 8-17-4H, Lone Butte, no production data,
• 32593, conf, Sinclair, Lizzie Rae 8-17-3H, Lone Butte, no production data,
• 32592, conf, Sinclair, Lizzie Rae 8-17-2TFH, Lone Butte, no production data,
• 32591, 1,567, Sinclair, Lizzie Rae 8-17-1H, Lone Butte, 37 stages, 4.4 million lbs, t9/16; cum 115K 9/19; this well was offline 6/19 - 7/19; back on line 8/19 and production jumped a bit; cum 155K 10/21;
  

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Updates:

• 32591, update:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	10-2021	31	1988	2343	3005	6429	0	6312
BAKKEN	9-2021	19	1419	882	2318	2058	0	1986
BAKKEN	8-2021	19	1003	1354	1558	1680	0	1608
BAKKEN	7-2021	29	1382	1373	2270	3134	0	3025
BAKKEN	6-2021	30	1632	1750	2520	4551	0	4438

• 32591, middle Bakken; first of this group to be completed:

Monthly Production Data

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2017	13	4450	4313	5037	4906	0	4857
BAKKEN	12-2016	16	4759	4590	5746	4771	0	4711
BAKKEN	11-2016	9	5234	5116	5814	7494	0	7460
BAKKEN	10-2016	20	10322	11062	11503	15668	0	15593
BAKKEN	9-2016	12	7858	6899	20299	12951	0	12898

Sunday, March 5, 2017

Active rigs:

	3/5/2017	03/05/2016	03/05/2015	03/05/2014	03/05/2013
Active Rigs	45	35	113	192	186

North American upstream spending to soar in 2017. Headline story in Oil & Gas Journal via Twitter. From an earlier OGJ article:

• global upstream spending is expected to increase 7% in 2017 
• but, in North America: upstream spending will soar by 27%
• by itself, 27% is pretty impressive, but this comes after a decline of almost 40% in 2016
• offshore spending is poised to fall another 20 - 25% in 2017, after falling 34% in 2016
• offshore well spending represents 15% of total spending

For newbies, this EIA white paper on trends in US oil and natural gas upstream costs, published in March, 2016, might be of interest. The link will take you to a 141-page PDF.

That report is filled with incredibly good information and is a must-read. On page 7, for example, the last two paragraphs discuss the relative cost of Bakken wells compared to the other major plays. On page 4, the report notes the high cost of resin-coated proppants commonly used in the Bakken. The report is dated March, 2016, so the data was probably based on calendar year 2015 data, and in the late Bakken boom (2013 - 2014) there was a lot of discussion in the Bakken whether sand or ceramic was better. I could be wrong, but it seems that Bakken operators, in 2016 and 2017 are gravitating toward sand.

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Update On DAPL Clean-Up

Corps cleans up one camp, two to go, from The Bismarck Tribune. 

Main camp: 2,000 cubic yards of "material"; 600 roll-off dumpsters .

From the article:

The U.S. Army Corps of Engineers finished cleaning up the main Dakota Access Pipeline protest camp at the end of day Thursday, a full week after moving in with its contractors.

The Oceti Sakowin camp was the largest of three occupied camps on corps’-owned land along the Cannonball River in southern Morton County. All three sprung up in opposition to the nearby Dakota Access crude oil crossing under the Missouri River/Lake Oahe.

Corps’ spokesman Capt. Ryan Hignight said the final tally of debris removed from the camp by all contractors was just over 2,000 cubic yards of material requiring more than 600 roll-off dumpsters.

Much more at the link.