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Friday, May 12, 2017

Week 19: May 7, 2017 -- May 13, 2017

The tea leaves suggest "over-production" of crude oil in 2018; many, many stories on OPEC's failure to rein in production and raise the price of oil. Four graphs tell the story and should scare the heck out of Saudi Arabia who is cash-strapped to do much about this. This was just one post that pretty much summarizes Saudi Arabia's problem. US CAPEX shall is 10x more than the rest of the world. WTI traded well below $50 all week, and traders got excited when the price of WTI went from $46 to $47 -- that tells me how far things have fallen.

The top "operations" story for me is one that was just posted: an incredible BR well in Sand Creek, produced 102,000 bbls in first seven days of production, posted here and here.

Production data for March, 2017, was posted in four posts: here, here, here, and here.

Despite everything, North Dakota is still producing more than 1 million bbls of crude oil daily.

Operations
Production in Sand Creek oil field surged; no change in number of wells
Random update of a Hess BB-Federal well
Random update on a Newfield well in Sand Creek
CLR well with an IP of "754" goes on to produce a half-million bbls of oil and is still going strong
Random update of a Whiting Wisness well
EURs in the Bakken now tracking one-million-bbl-type curves

Pipelines
$6.3 million pipeline being considered in Watford City area
Savage Bakken Connector, Trenton, ND, declares open season 

Fracking
Random update of a re-fracked Hess BB-Olson well

Bakken 2.0
Re-fracks
Five DUCs reported as completed 

Bakken economy
Roosevelt Inn and Suites in Williston has new owner

Some Incredible Things Going On In The Bakken -- May 12, 2017

There are some incredible things going on in the Bakken. My hunch is one can extrapolate these "incredible things" to the Permian and the Eagle Ford.

I'm just too tired to talk about this tonight but if the spirit moves me I will tackle this tomorrow.

It concerns this area in the Bakken:


Note: there are only seven horizontal wells in these two sections (although they are part of a 4-section drilling unit). Before it's all over, there will be as many as 32 wells in this drilling unit.

Note one well posted at this site, 102,000 bbls in 7 days (although it was probably 33 days, in reality):
  • 30326, 2,652, BR, Old Hickory 41-32TFH, Three Forks, 29 stages, 7.4 million lbs, t2/17; cum 102K 3/17;
Also note this:
  • Three Forks
  • minimal number of stages in the big scheme of things
  • moderate amount of proppant; nothing unusual
Then, on top of this, another well in this graphic had a similar production profile (I'll post that data later this weekend).

And then on top of that, one of the older wells was re-fracked and had an excellent result.

Huge things are going on in the Bakken. Just too tired to do much else with this tonight. It's not that I'm too tired to go on; it's just that all this data coming out of the Bakken is simply overwhelming. I wonder if Jane Nielson is following the Bakken any more?

Production profile:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-2017303180831766906058740586660
BAKKEN6-2017302940029326100855605155582395
BAKKEN5-201721727217203589532913329100
BAKKEN4-201729274652751367714923848727439
BAKKEN3-20175227672279873063834537411924
BAKKEN2-2017220995208076913278631573612122

Huge Correction-- BR -- #30326 -- Old Hickory -- March 12, 2017

Updates

June 16, 2017: it looks like there is a huge correction for two Old Hickory wells. The "81,000 bbls in one month" noted in the original post seems to have been in error. The current scout tickets for these two wells now show a change in the oil production in that one month; produced water and natural gas figures remained unchanged.

Scout ticket, #30224:
NDIC File No: 30224     API No: 33-053-06569-00-00     CTB No: 230325
Well Type: OG     Well Status: A     Status Date: 1/15/2017     Wellbore type: Horizontal
Location: SENE 32-153-96     Footages: 1579 FNL 683 FEL     Latitude: 48.033939     Longitude: -103.046193
Current Operator: BURLINGTON RESOURCES OIL & GAS COMPANY LP
Current Well Name: OLD HICKORY 42-32MBH
Elevation(s): 2341 KB   2314 GR   2315 GL     Total Depth: 21390     Field: SAND CREEK
Spud Date(s):  10/11/2015
Casing String(s):  9.625" 2482'   7" 10885'  
Completion Data
   Pool: BAKKEN     Perfs: 10885-21390     Comp: 1/15/2017     Status: F     Date: 1/18/2017     Spacing: 4SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 67402     Cum MCF Gas: 118093     Cum Water: 19314
Production Test Data
   IP Test Date: 1/18/2017     Pool: BAKKEN     IP Oil: 2544     IP MCF: 4447     IP Water: 936
Monthly Production Data
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-201730316473168151385301952647298
BAKKEN3-201731231962308467263976538998692
BAKKEN2-20176252624781725414141260
BAKKEN1-2017161003310033572521168165194609


Scout ticket, #30326:
NDIC File No: 30326     API No: 33-053-06614-00-00     CTB No: 230325
Well Type: OG     Well Status: A     Status Date: 2/10/2017     Wellbore type: Horizontal
Location: NENE 32-153-96     Footages: 890 FNL 230 FEL     Latitude: 48.035829     Longitude: -103.044340
Current Operator: BURLINGTON RESOURCES OIL & GAS COMPANY LP
Current Well Name: OLD HICKORY 41-32TFH
Elevation(s): 2318 KB   2291 GR   2292 GL     Total Depth: 20975     Field: SAND CREEK
Spud Date(s):  8/23/2015
Casing String(s):  9.625" 2453'   7" 10927'  
Completion Data
   Pool: BAKKEN     Perfs: 10927-20975     Comp: 2/10/2017     Status: F     Date: 2/14/2017     Spacing: 4SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 71194     Cum MCF Gas: 115446     Cum Water: 20990
Production Test Data
   IP Test Date: 2/14/2017     Pool: BAKKEN     IP Oil: 2652     IP MCF: 3246     IP Water: 1130
Monthly Production Data
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN4-201729274322748067714923848727439
BAKKEN3-20175227672279873063834537411924
BAKKEN2-2017220995208076913278631573612122

Original Post

For newbies: early in the Bakken boom, if a well produced 100,000 bbls in the first two years, it was considered a good well. Then EOG was getting 100,000 bbls in the first year and then talked about 100,000 bbls in the first six months. Look at this: 100,000 bbls in 7 days (actually I think the second month was likely a full month, but if in fact it was 5 days, it is even more staggering). 

The well:
  • 30326, 2,652, BR, Old Hickory 41-32TFH, Three Forks, 29 stages, 7.4 million lbs, t2/17; cum 102K 3/17;
Production profile (seven days of production, although I think it was actually 33):

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-20175810028063073063834537411924
BAKKEN2-2017220995208076913278631573612122


The graphic is at this post.

The scout ticket:
NDIC File No: 30326     API No: 33-053-06614-00-00     
Well Type: OG     Well Status: A     Status Date: 2/10/2017     Wellbore type: Horizontal
Location: NENE 32-153-96          Latitude: 48.035829     Longitude: -103.044340
Current Operator: BURLINGTON RESOURCES OIL & GAS COMPANY LP
Current Well Name: OLD HICKORY 41-32TFH
Elevation(s): 2318 KB   2291 GR   2292 GL     Total Depth: 20975     Field: SAND CREEK
Spud Date(s):  8/23/2015
Completion Data
   Pool: BAKKEN     Perfs: 10927-20975     Comp: 2/10/2017     Status: F     Date: 2/14/2017     Spacing: 4SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 101997     Cum MCF Gas: 66208     Cum Water: 14219
Production Test Data
   IP Test Date: 2/14/2017     Pool: BAKKEN     IP Oil: 2,652     IP MCF: 3246     IP Water: 1130

*************************************
One Wonders If "81686" Should Have Been "18686"?

A reader pointed out "the other" Old Hickory well with similar production:
  • 30224, 2,544, BR, Old Hickory 42-32MBH, Sand Creek, 34 stages, 5.2 million lbs, t1/17; cum 94K 3/17; 

NDIC File No: 30224     API No: 33-053-06569-00-00     
Well Type: OG     Well Status: A     Status Date: 1/15/2017     Wellbore type: Horizontal
Location: SENE 32-153-96          Latitude: 48.033939     Longitude: -103.046193
Current Operator: BURLINGTON RESOURCES OIL & GAS COMPANY LP
Current Well Name: OLD HICKORY 42-32MBH
Elevation(s): 2341 KB   2314 GR   2315 GL     Total Depth: 21390     Field: SAND CREEK
Spud Date(s):  10/11/2015
Completion Data
   Pool: BAKKEN     Perfs: 10885-21390     Comp: 1/15/2017     Status: F     Date: 1/18/2017     Spacing: 4SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 94245     Cum MCF Gas: 65074     Cum Water: 14176
Production Test Data
   IP Test Date: 1/18/2017     Pool: BAKKEN     IP Oil: 2544     IP MCF: 4447     IP Water: 936


Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-201731816868116967263976538998692
BAKKEN2-20176252624781725414141260
BAKKEN1-2017161003310033572521168165194609

Random Note On Production Jump In Sand Creek Oil Field -- March, 2017

Operators can now manage individual wells from corporate operational headquarters / regional offices. It is always an interesting exercise to look for some examples. First, go to this post: production in top Bakken oil fields, March, 2017, data, and look at Sand Creek oil field, #12 on the list.

In February, 2017, there were 94 wells actively producing oil, and in February, 2017, those 94 wells produced 410,944 bbls of oil.

One month later, in March, 2017, there were still 94 wells actively producing oil, and in March, 2017, those same 94 wells produced 534,342 bbls of oil, an increase of almost 40% month-over-month.

Sand Creek oil field is tracked here. It needs to be updated, but one can quickly scroll through the permits and see which operator(s) control this field. I don't find it surprising that production jumped almost 40%.

March, 2017, Data -- Production In Top Bakken Oil Fields

Disclaimer: in a spreadsheet done manually there are likely to be typographical and factual errors. If this information is important to you, go to the source. Do not quote me on this data. 

February, 2017, and March, 2017, data for top twenty (20) producing oil fields in the Bakken. Ranked by production for March, 2017, column 7.

Field
Feb 2017 Prod
Feb Wells
Feb Oil / Well / Month
Percent Change Jan-to-Feb
Change in # of wells
March 2017 Prod
March Wells
Mar Oil / Well / Month
Percent Change Feb-to-Mar
Change in # of wells
Parshall
1,103,965
468
2,359
-15.48%
3
1,337,466
483
2,769
21.15%
15
Sanish
1,056,426
602
1,755
-11.18%
0
1,087,280
602
1,806
2.92%
0
Siverston
818,555
252
3,248
1.10%
0
997,739
260
3,837
21.89%
8
Reunion Bay 
727,591
167
4,357
8.64%
7
898,484
167
5,380
23.49%
0
Blue Buttes
839,739
157
5,349
13.24%
5
887,369
157
5,652
5.67%
0
Banks
626,144
199
3,146
17.92%
6
828,193
201
4,120
32.27%
2
Antelope-Sanish
725,059
175
4,143
6.40%
7
815,558
177
4,608
12.48%
2
Grail
777,902
188
4,138
7.92%
6
786,608
188
4,184
1.12%
0
Corral Creek
579,669
158
3,669
6.42%
7
701,657
160
4,385
21.04%
2
Alger 
647,532
326
1,986
12.72%
2
652,291
326
2,001
0.73%
0
Heart Butte
424,232
186
2,281
-10.68%
3
584,046
196
2,980
37.67%
10
Sand Creek
410,944
94
4,372
17.31%
1
534,342
94
5,684
30.03%
0
Poe
461,908
104
4,441
1.26%
3
523,481
104
5,033
13.33%
0
Spotted Horn
369,691
88
4,201
-7.17%
0
508,738
97
5,245
37.61%
9
Van Hook
510,250
189
2,700
-17.70%
-1
505,314
189
2,674
-0.97%
0
Alkali Creek
486,725
152
3,202
-8.10%
0
466,127
152
3,067
-4.23%
0
Camp
373,679
142
2,632
-11.97%
1
439,809
145
3,033
17.70%
3
Eagle Nest
417,875
92
4,542
-13.61%
-1
436,899
97
4,504
4.55%
5
Lost Bridge
228,112
62
3,679
-9.86%
1
434,986
64
6,797
90.69%
2
Big Bend
424,498
122
3,479
8.24%
2
427,894
122
3,507
0.80%
0