Monday, December 17, 2018

Around The Bakken -- December 17, 2018

EOG's huge Skaar well on the far east side of the Parshall oil field has been updated with full production profile provide. This is a very short lateral, and has produced over 800,000 bbls of crude oil in about ten years. It has also produced 75,000 boe natural gas in that same time period. Natural gas production is increasing, as expected as the well grows older. 

CLR's Pittsburgh wells have been updated. All wells are now completed or on drl status. These are huge wells.

Equinor's Vachal wells have been updated.  These are huge wells and most of the wells show a jump in production after neighboring wells have been fracked.

WPX Mandaree wells in Reunion Bay, section 30-150-93, have been updated. These are huge wells. Two wells were particularly huge. #28983 was drilled three years ago; has produced almost 700,000 bbls of oil:
  • 19603, 332, WPX, Mandaree 30-31H, Reunion Bay, t5/11; cum 542K 10/18; ***
  • 28983, 2,222, WPX, Mandaree 24-13HD, Spotted Horn, t9/15; cum 689K 10/18; ***
The BR Veeder wells in Blue Buttes have been updated. Some of the Veeder wells have produced over 300,000 bbls in one year:
  • 32909, 441, BR, Lillibridge 3B UTFH, Blue Buttes, t9/17; cum 311K 10/18;
  • 32910, 555, BR, Lillibridge 3C MBH, Blue Buttes, t9/17; cum 358K 10/18;
  • 32911, 524, BR, Lillibridge 3D UTFH, Blue Buttes, t9/17; cum 268K 10/18;
  • 32912, 413, BR, Lillibridge-Veeder 3E-MBH-ULW, Blue Buttes, t8/17; cum 327K 10/18;
How does one even begin to calculate break even costs on these wells? Example. Look at the production profile of this well, drilled back in 2011, and not re-fracked, and yet in September, 2017, it was essentially a new well with incredible production; goes from a well producing 1,000 bbls/month to a well producing 12,000 bbls/month, and not re-fracked, according to FracFocus data:
  • 19288, 984, BR, Veeder 14-24H, Blue Butte, t4/11; cum 229K 10/18; recent production profile:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-201872380452041870
BAKKEN9-2018130019190
BAKKEN8-2018124880200
BAKKEN7-20182916341515465179417220
BAKKEN6-201830351637711200403339590
BAKKEN5-201831428440661395501549380
BAKKEN4-201830530653231580648064060
BAKKEN3-201831737177631640924191640
BAKKEN2-20182895608695141810626105560
BAKKEN1-2018311186212420229114771146940
BAKKEN12-2017301418813601245716155160810
BAKKEN11-2017301169512466234614173140990
BAKKEN10-201730448840091699366735930
BAKKEN9-201730493652942298389738230
BAKKEN8-201737845815592942870
BAKKEN7-20170000000
BAKKEN6-20172396558433122511680
BAKKEN5-20173115711412690187317960
BAKKEN4-20173012141095826184617720
BAKKEN3-20173111751082936120011960
BAKKEN2-20171440504431891870
BAKKEN1-20171022211441262392380
BAKKEN12-2016318750501101610120
BAKKEN11-20163083511375059869820

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