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Tuesday, October 30, 2018

CLR Has Posted Its 3Q18 Presentation

Link here.

"First-look" highlights as I scroll through quickly.

Bakken:
  • 35 slides
  • 20 - 24% annual production growth yoy; Bakken, up 23% yoy
  • production, record CLR quarter: 167,643 boepd; 128,497 bopd
  • "2018 ramp": up to 70% Bakken wells yet to be completed; these 70 wells would represent about40% of CLR's total for 2018 -- wow!
  • CLR says it has lowest cost structure among 12 peers
  • Bakken returns better than ever
    • all CLR top-10 30-day rate Bakken wells were drilled in the past 12 months
    • 42 completions in 3Q18: 3,013 boped average per well
  • EUR-type curves with optimized completions: 1.2 million boe
    • compare with 980K in 2017; 800K in 2015; 603K in 2014; and, 409K in 2011
  • 8 rigs drilling in the Bakken; an increase of two since last report
  • 2 stim crews working; will have 4 stim crews at YE 2018
  • in the Bakken, CLR is the #1 producer
    • producing 12% of ND Bakken production
    • produces about 150,000 bopd
    • next nearest producer: 105,000 bopd
  • 800,000 net reservoir acres
  • 4,000+ Bakken wells in inventory
  • two more 30-day rate Bakken wells added to top ten list
  • Wiley 8-25H (#33112) -- Pershing -- see below
  • Mountain Gap 3-10H (#33557) -- Rattlesnake Point -- see below
  • wow, the 60-stage completions are now exceeding the 1,200 mboe EUR type curve (slide 8)
  • more and more wells in the Bakken producing greater than 100 mboe in 90 days 
SCOOP/STACK
  • 3Q18 production: 120,246 boepd
  • 1.2 mboe EUR-type curves; some exceeding even those incredible rates
**********************************

Mountain Gap 3-10H (#33557) -- Rattlesnake Point, t7/18; cum 79K after 1.5 months:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2018314475544888421394919248687100
BAKKEN7-201818326493218432629347612149713029
BAKKEN6-20180000000
BAKKEN5-20180000000
BAKKEN4-20186172217226867193301933


Wiley 8-25H (#33112) -- Pershing (still confidential):
DateOil RunsMCF Sold
8-20184511479898
7-20185293090387
6-20181211319086
5-201821280
 

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