Tuesday, June 5, 2018

Random Update Of A Very Old EOG Well In Parshall Oil Field -- June 5, 2018

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Let's take a look at the very first well I ever posted at "new wells reporting." Appropriately, it was an EOG well in the Parshall oil field:
  • 17972, 1,695, EOG, Parshall 15-31H (1 sec), Parshall; t8/09; cum 392K 4/18; jump in production 7/13; off-line as of 2/17; back on-line as of 5/17; small jump in production 5/17;
The meme that Wall Street has is that the Bakken wells have a high rate of decline, and by extension, have a short life time. So how is this well doing? Some observations:
  • a short lateral, only 14,484 feet
  • steep decline (as expected)
  • declined to 3,000 bbls/month by mid-2013, and then, without a re-frack, had a jump in production to over 8,000 bbls/month
  • then declined again, to 2,000 bbls, and then 1,000 bbls / month by early 2017
  • then, again, without a re-frack, jumped again, for a short period of time to 4,000 bbls/month
  • currently at 1,500 bbls / month

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