Saturday, October 28, 2017

QEP Talks About Re-Fracking, 3Q17 Earnings Transcript -- October 28, 2017

I'll get back to this when I can, but the transcript for 3Q17 QEP earnings has been posted. A reader noted this from the transcript:
Additionally, we completed and turned to sales four refractured wells on Fort Berthold.
And those four wells were completed, three of them were in the Middle Bakken and one was in the first bench of the Three Forks.
All four of the refractured wells were originally stimulated to what we would call a Gen-1 type completion and that’s a 31 to 34 stages, they were all sliding sleeve completions originally and they had an average proppant concentration of a little over 300 pounds per lateral foot.
Just as we do on our successful refrac program in the Haynesville, we ran and cemented a string of casing inside the existing sliding sleeve casing string. Then we did a traditional plug and perf restimulation over 30 to 31 stages with an average proppant concentration of approximately 1,000 pounds per lateral foot.
Prior to the restimulating these wells, the four of them were averaging about a 112 barrels of oil equivalent per day per well. The average peak 30-day uplift from the four refractured wells were 627 barrels of oil equivalent per-day per well, that’s about 81% oil, over the pre-refrac production levels.
Likely candidates, all in Heart Butte (there may be other candidates) (I will fill in the rest of the data later):
  • 20964, 1,035, QEP, MHA 1-32-33H-148-92, Heart Butte, t1/12; cum 230K 10/17;
  • 20965, 810, QEP, MHA 3-32-33H-148-92, Heart Butte, t1/12; cum 146K 10/17;
  • 23093, 2,052, QEP, MHA 3-06-31H-150-92, Heart Butte, t9/13; cum 333K 10/17;
  • 23097, 2,512, QEP, MHA 2-06-31H-150-92, Heart Butte, t9/13; cum 364K 8/17; (see production profile below); according to FracFocus (API 33-025-01754), fracked in 2013; and re-fracked 6/18/17 - 6/29/2017;
  • 24209, 2,854, QEP, MHA 5-04-33H-150-92, Heart Butte, t5/13; cum 235K 10/17;
For newbies, this gets us back into an interesting discussion regarding re-fracking. There are several questions:
  • how does re-fracking change thinking about EURs?
  • how many times can a well be re-fracked?
  • what does re-fracking "mean" for primary production?
  • how does re-fracking affect all this talk about "Tier 1" drilling locations? (which I think is hopeful thinking by the Saudis)
Something tells me Harold Hamm would have a lot to say about all this.

See also the graphic at the bottom of this post.

These re-fracks are not one-hit wonders. LOL.

Popsicles, Icicles, The Murmaids

************************************
Production Profile for #23097

 Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2017312070920755919219800755812201
BAKKEN7-201713576156489788507726832258
BAKKEN6-201700530000
BAKKEN5-20171822982371522266302405
BAKKEN4-20173038643948879433126701253
BAKKEN3-201731394338107933993346383
BAKKEN2-201726310130319003098270943
BAKKEN1-2017263562364587436742989334
BAKKEN12-2016293990404094040823283411
BAKKEN11-2016304113405291147063774524
BAKKEN10-2016314404444498148253721683
BAKKEN9-20163042004175925469442860
BAKKEN8-20163145714574886497945580
BAKKEN7-2016314416438986844523899132
BAKKEN6-2016304271437485642243664158
BAKKEN5-201631482147608614463400933
BAKKEN4-2016304705475190242353439429
BAKKEN3-2016314945495810144833788116
BAKKEN2-201629496449702094237355686
BAKKEN1-20163156605510108540772605811
BAKKEN12-201531276028401188314324730
BAKKEN11-201530459043041911363630420
BAKKEN10-201531474048672046377931610
BAKKEN9-20153049634882241945053462413
BAKKEN8-2015315293541925704430377415
BAKKEN7-201531505150262926425536640
BAKKEN6-201530528453393050430937320
BAKKEN5-201531540453223077456039560
BAKKEN4-2015305023521031524574392077
BAKKEN3-201531606160512286469926651427
BAKKEN2-20152865896382272837273017124
BAKKEN1-201531647863743337579951250
BAKKEN12-201427532554362472442438720
BAKKEN11-201430642263284449492643730
BAKKEN10-201431683870153881572953960
BAKKEN9-20143068816823358959464441886
BAKKEN8-201431682868144347653547411053
BAKKEN7-20143161696151332056254393436
BAKKEN6-201430662967224638637630412767
BAKKEN5-2014319970102384053963647314103
BAKKEN4-201430113001099357111013564733254
BAKKEN3-20143111097112413978989541075371
BAKKEN2-201428146761472644821143244666596
BAKKEN1-2014311947419435663014899357310914
BAKKEN12-201329180441838766391426297112913
BAKKEN11-201328321263167612308255871145313763
BAKKEN10-2013302450824631121791097564964085
BAKKEN9-2013241714916701176761057623767958
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The Bakken Never Ceases To Amaze Me; Questions Remain On This One -- The CLR Florida Federal Wells -- October 28, 2017

Previously discussed but now we have more data and the graphic. And a failed frack in a newer well (see below).

According to FracFocus this well has not been re-fracked and there would seem to be no reason to re-frack this well. The last sundry form was received July 20, 2014 (switch to pump).

Look at the production profile:

Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2017312052720364120782984528575839
BAKKEN7-2017312541425768141663711636375269
BAKKEN6-20172927095267492466432161295152207
BAKKEN5-201730203152053523855238561097712435
BAKKEN4-2017301704716919184891399946318908
BAKKEN3-201716359431078636429511642907
BAKKEN2-20170050000
BAKKEN1-2017294235361341161
BAKKEN12-20162823242345100630182368257
BAKKEN11-20163029212959148245693887220
BAKKEN10-201630318731181371468842320
BAKKEN9-2016242264234410252802244939
BAKKEN8-201628337232811551506946500
BAKKEN7-201631234423288073533307419
BAKKEN6-2016292362233519253500304020
BAKKEN5-20163029163037192738903262163
BAKKEN4-2016283724387611487121663453
BAKKEN3-2016316581649121111099994971038
BAKKEN2-201625555054981357809435624151
BAKKEN1-201629611461061444868837964464
BAKKEN12-201531436143491315666932193023
BAKKEN11-2015283328339917895145464987
BAKKEN10-2015313887370921814581402394
BAKKEN9-20151312351314858109288627
BAKKEN8-2015242247224016131750136232
BAKKEN7-2015118708616737395993
BAKKEN6-2015303200320214863364284791
BAKKEN5-2015312523246010943176271515
BAKKEN4-20153037553870167147083899433
BAKKEN3-20152642734383194052058084063
BAKKEN2-2015285540571616727306956826
BAKKEN1-201531114861110622961030812028727
BAKKEN12-201431946694382225775129144469
BAKKEN11-2014611111172416119701104
BAKKEN10-2014121544189272088973912
BAKKEN9-2014305115510123125764527730
BAKKEN8-20143156305642243364525691288
BAKKEN7-201431502951922448351920921427
BAKKEN6-2014305505520923234535451124
BAKKEN5-201424347636041621272927272
BAKKEN4-2014306797697925838952894012
BAKKEN3-20143183968352320213741137329
BAKKEN2-20142886499093297614727147198
BAKKEN1-2014311105610466351319590195819
BAKKEN12-20133112324125733917200492003514
BAKKEN11-20133011774116473563160431602122
BAKKEN10-201331130861306034941776317639124
BAKKEN9-201330872489072799112331120330
BAKKEN8-20133112587122414055165621651943
BAKKEN7-20133111220113203809146141452193
BAKKEN6-201330137841383441401807917975104
BAKKEN5-20133115829160254281212382119246
BAKKEN4-2013301632216606413820660174433217
BAKKEN3-201331213792125749252608125247834
BAKKEN2-2013191926518425746825960209754985
BAKKEN1-2013710189427129187601876


The Graphic:



The Parents:
  • The well whose production is noted above:
    • 21977, 1,016, CLR, Florida 3-11H, Camp oil field, t1/13; cum 434K 8/17;
  • The sister wells to #21977:
    • #21980: showed a jump in production from 2,000 bbls/month to 12,000 bbls/month 
    • #21982: showed a small but definite jump in production, also -- look ow far distant #21982 is from 28802 and 28800
The newer fracked wells (the children):
  • 28800, 1,386, CLR, Florida Federal 4-11H1, Three Forks, 45 stages, 22 million lbs, t3/17; cum 185K 8/17;
  • 28802, 190, CLR, Florida Federal 5-11H, middle Bakken, 16 stages, 5 million lbs, t3/17; cum 3K 8/17;  regarding frack: 45 stages planned; will resume operations when plug and guns are fished out of this well; well not producing
Interesting, huh?
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Flashback To 2011 -- Look How Far We've Come -- October 28,2017

From top stories for Week 33, 2011 (many broken links; I will try to fix them):

Halliburton announces new fracture technology: RapidFrac; first used in Bakken.

A "new" look at legacy formations in western North Dakota.

Two-part series on water, fracking and the Bakken.

Best Western Plus Inn and Suites breaks ground in Williston.

North Dakota  oil production in 2011 to CRUSH previous record.

One million bbls/day by 2018.
  • Director's Cut, June 17, 2014 -- April, 2014 data --
    • production: 1,001,149 bopd
    • producing wells: 10,658
    • price of WTI: $91.75/bbl
    • active rigs: 188 (all-time high was 218 on 5/29/2012) 
  • Note: in May, 2012:
    • production: 639,277 bopd
    • producing wells: 7,036
    • price of WTI: $72.25
    • active rigs: 209  (all-time high was 218 on May 29, 2012)
North Dakota named one of America's most pro-business states (#3).

The Bakken pool.

48,000 wells in the Bakken. [In 2017, the number of wells to drill the Bakken Pool is estimated to be 60,000]

Three additional pay zones below the upper Three Forks?

Contracted rigs in the Bakken: 225.

Whiting's Hecker, a Three Forks well: 114,000 bbls in 4 months.

Slawson looking at putting 6 wells on 640-acre spacing units.

BEXP: 10 wells on a spacing unit coming.

WMB well: 20,000 bbls in 14 days; not fracked.
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Random Update Of An Old Whiting Koala -- October 28, 2017

The well:  
  • 19651, 1,919, Whiting, Koala 9-5-6-12H3, 4/11; cum 326K 8/17; 22 stages; 2.8 million lbs (2011); stimulation report says "middle Bakken" but the name of the well suggests a Three Forks well (and the name has not been changed); and the permit is for a Three Forks well;
FracFocus: no data that this well was re-fracked.

Recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-201726243925393314460145230
BAKKEN7-201731324231595185618660930
BAKKEN6-201729323033835762491148260
BAKKEN5-201731324432914366498448901
BAKKEN4-20173022052093146940003795115
BAKKEN3-201731243026585070370836069
BAKKEN2-201728301430706579527551930
BAKKEN1-201722426243328455697257761131
BAKKEN12-20163110355102562208315995130872815
BAKKEN11-2016724252145606835713176374
BAKKEN10-201631631991397887773
BAKKEN9-2016301944215117758832868557
BAKKEN8-201631234122071627752274290
BAKKEN7-2016251451139292632422808362
BAKKEN6-2016301573157596838713678103
BAKKEN5-20163116171618134241543443618
BAKKEN4-201630149314821328399138983

The graphic:


The well:
  • 31409, 2,514, Whiting, Koala 44-5TFHU, Poe, t11/16; cum 178K 8/17;
Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2017319264931691173541434615738
BAKKEN7-201717569555487598123741225193
BAKKEN6-20173092389385105973024829723465
BAKKEN5-201731127021265412281376123745793
BAKKEN4-201730184851850648083530435121123
BAKKEN3-2017138087824873601398513777183
BAKKEN2-2017282598226109134314411043824230
BAKKEN1-2017303479134604149375233551473803
BAKKEN12-2016262961429810198353615835288820
BAKKEN11-2016232461724065318003073228142255

************************** 
Paula, The Koala

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Whiting Reports The Results Of A Thrice-Fracked Koala Well In Poe Oil Field; Third Time The Charm? -- October 28, 2017

Recent production profile:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-201715340733618707355012992210
BAKKEN7-20170000000
BAKKEN6-20170000000
BAKKEN5-20170000000
BAKKEN4-201700640000
BAKKEN3-20170000000
BAKKEN2-20170000000
BAKKEN1-201722462440370708465179
BAKKEN12-2016316446954571146768285
BAKKEN11-201630585577359769515164
BAKKEN10-20162154850653944136417
BAKKEN9-20162979180276866856221


The well:
  • 20413, 702, Whiting, Koala 2-25-36-14H3, Poe, t1/12; cum 61,487 bbls
The graphic:


From the sundry forms:
  • re-frack report, received July 14, 2017
    • 1st stimulation, Three Forks: 11/29/11; 18 stages; 2.3 million lbs;
    • 2nd stimulation, Three Forks: 12/11/2012; 13 stages; 1.9 million lbs;
    • 3rd stimulation, Three Forks & Upper Bakken Shale: 6/6/17, 545; 1 stage; 2.15 million lbs -- this was a 27 cycle re-frac using diverter. A continuous stimulation was performed on 6/6/2017
    • undated: somewhere along the line, the type-written Three Fork pool was lined out in ink and replaced with "Bakken" in ink; it appears that the "editor" was making clear that the pool was the Bakken and the zone was the Three Forks (which was noted at the bottom of the page)
  • FracFocus: shows data for two fracks (the 2nd and 3rd stimulation)
    • 6/6/2017: 2,067,158 gallons of water; 10.95% sand 
    • 12/06/12: 1,982,131 gallons of water, 11% sintered bauxite
Production at time of 2nd stimulation:
BAKKEN4-2013283646371157874072163982
BAKKEN3-201310068000
BAKKEN2-201323341335094684369503630
BAKKEN1-201319256024194622384213082481
BAKKEN12-20121535483498411737943279473
BAKKEN11-2012120094091
BAKKEN10-2012632414168363046
BAKKEN9-201212420325000
BAKKEN8-201228257652473429238108
BAKKEN7-20123130003319401

Production at time for 1st stimulation:
BAKKEN4-201214264832574679443196
BAKKEN3-201243040581310152146
BAKKEN2-2012761823998060855730
BAKKEN1-2012251067636204438225475
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