Random Update Of Statoil Russel Well In Painted Woods -- April 20, 2018

The well:

• 19930, two frack/IP (see below), Statoil, Russell 10-3 1H, Painted Woods, cum 286K 2/18;
• first frack: 5/22/11 -- 2,670, 36 stages; 4 million lbs; large/small ceramic
• second frack: 8/11/17 -- 82, 1.9 million lbs, all mesh

For newbies: this is an important data point/random well update. The Bakken is now in the manufacturing phase. Bakken wells:

• will be drilled
• some will go immediately into production
• some will be fracked/completed later (DUCs) -- within two years
• once completed, Bakken wells will:
• have pumps installed
• undergo work-overs (think roto-rooter)
• undergo mini-re-fracks
• be re-fracked: standard re-fracks; high-intensity re-fracks
• taken off-line while neighboring wells are fracked/re-fracked
• come back off -line once work on neighboring wells is completed
• be remotely "managed" for production
• will produce for 35 years (source: NDIC) 
• with "current" EURs of --
• less than 500,000 bbls: poor wells
• 500,001 - 750,000 bbls: "okay" wells for those with low expectations
• 750,001 - 1,000,000 bbls: expectations for Bakken wells on the fringe
• 1,000,001 -- 1,500,000: expectations for Bakken wells inside the fringe
• > 1.5 million bbls: currently not much said about EURs greater than 1.5 million bbls ...

#19930 is a good example of a fairly mediocre well simply undergoing a very small re-frack -- few stages (it was a long lateral) and very little proppant and it was all mesh, relatively inexpensive to re-accomplish. By the way, this well is the only one in this drilling unit and is located on the fringe.