Bakken Well Life-Cycle -- MRO's Voigt Well In Bailey Oil Field -- October 3, 2018

Updates

Later, 3:12 p.m. CDT: dollars and (common) sense --

Using $50/bbl as the price of oil at the wellhead, look at the ten months following the re-frack, and the ten months prior to the re-frack:

Monthly	11,081	661
Monthly	12,157	691
Monthly	13,282	623
Monthly	12,953	697
Monthly	16,648	729
Monthly	20,807	632
Monthly	26,722	701
Monthly	14,371	698
Monthly	17,493	687
Monthly	28,683	689
Total: 10 months	174,197	6,808
at $50/bbl	$8,709,850	$340,400

At ten months following the re-frack, which might have cost $4 million, this well has produced almost $9 million in crude oil at $50/bbl. In the ten months prior to the re-frack, this well generated less than $350,000 in crude oil at $50/bbl at the wellhead. Regardless how the operator did, the mineral owners did very, very well.

Later, 2:27 p.m. CDT: cost of a re-frack. 

Original Post

Huge amounts of time and money were required to drill this greenfield well. The first time. Think about this. Second time around, to re-frack. Like getting a brand new well. But no time getting the lease, pooling, pad built, roads built, other infrastructure, etc; and, all the money saved -- essentially just the cost of a re-frack. And there are thousands of these wells in the Bakken suitable for a first re-frack. And then we have the second re-frack. And a third. Rinse and repeat.

The well:

• 16964, 315, MRO, Voigt 11-15H, Bailey, t5/18; cum 354K 8/18; re-fracked once;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	8-2018	31	11081	11033	9680	9831	8939	0
BAKKEN	7-2018	31	12157	12119	10689	10459	8965	532
BAKKEN	6-2018	30	13283	13261	11861	9934	8482	431
BAKKEN	5-2018	31	12953	13039	10748	9026	6753	1266
BAKKEN	4-2018	30	16648	16633	15390	12130	6074	4097
BAKKEN	3-2018	31	20807	20900	21866	12733	5915	4409
BAKKEN	2-2018	28	22590	22465	25176	13676	7280	3814
BAKKEN	1-2018	31	26722	26704	33136	17924	13520	1364
BAKKEN	12-2017	27	14371	14369	18379	8339	2272	4386
BAKKEN	11-2017	30	17493	17345	21327	9561	505	7006
BAKKEN	10-2017	22	28683	28727	554	16075	0	12881
BAKKEN	9-2017	0	0	0	0	0	0	0
BAKKEN	8-2017	0	0	0	0	0	0	0
BAKKEN	7-2017	0	0	0	0	0	0	0
BAKKEN	6-2017	0	0	0	0	0	0	0
BAKKEN	5-2017	5	89	64	10	58	0	40
BAKKEN	4-2017	30	661	663	148	541	0	292

Re-frack: 8/22/17 -- 9/14/18; 4.9 million gallons of water; a small to moderate frack; 87.2% water by mass.

Original frack/geologist's note:

the lateral generated an exposure of 9,006 feet of 6" hole through the gross middle Bakken. The lateral well bore remained approximately 84% in the target zone and 100% in the gross middle Bakken. Background gas as high as 5,000 units. The middle Bakken must have been about 30 feet thick: the well path landed about 15 feet into the middle Bakken in the middle of the target zone. On May 12, 2008, the well was tested after stimulation with 546,700 pounds of 40/70 sand.

Initial production:

BAKKEN	2-2009	28	3977	3981	1094	1655	1655	0
BAKKEN	1-2009	13	1728	1448	960	659	659	0
BAKKEN	12-2008	17	2035	2098	467	596	596	0
BAKKEN	11-2008	30	2863	3008	537	1113	1113	0
BAKKEN	10-2008	31	2550	2550	378	975	975	0
BAKKEN	9-2008	30	2511	2590	407	1160	1160	0
BAKKEN	8-2008	31	3426	3223	615	1587	1587	0
BAKKEN	7-2008	31	4013	4080	708	1657	1657	0
BAKKEN	6-2008	30	5714	5895	975	1797	1797	0
BAKKEN	5-2008	24	6990	6599	1117	0	0	0
BAKKEN	4-2008	12	903	696	303	0	0	0

Amazing, huh?

On December 28, 2015, the well qualified for "stripper well status."