Another Example Of What The SeekingAlpha Crowd Is Missing -- Not Just In The Bakken But Everywhere -- February 3, 2019

Comments/Updates

 Comments that came in later, for newbies:

• for minimal cost, MRO seems to have gotten a brand new well
• MRO was pretty much guaranteed a brand new well -- something we never saw before the "unconventional" drilling / "the shale revolution"
• the company did not have to pay upfront costs for a new lease; did not have to negotiate with the surface owner; is not paying additional surface "rent"; did not have to build a new pad; did not have to pay for new infrastructure, including new electricity access (a big choke point during the boom);  
• every well drilled before 2016 is a candidate for a re-frack
• by the time every well drilled before 2016 is re-fracked, it will be time to re-frack all the wells drilled between 2016 and 2022
• when the Bakken boom began, primary production was estimated to be 1 - 3%
• no one is talking but tea leaves suggest primary production in the Bakken is now in the low teens
• conventional drilling, primary production, 50%?
• can't wait to see EUR-type curves coming out of the Bakken in 2025

Original Post

 

Well, this is interesting. The Bakken never quits surprising me.

Art Berman, put #17255 in your pipe and smoke it.

First this well:

• 17255, 465/1,799, MRO, Pelton 24-31H, Bailey, t9/08 and 4/17;  
• from the sundry form, dated March 1, 2017: MRO is planning to refrack this well. Originally an open hole completion in 2008 and drilled with toe setbacks that were 500' FNL of section 30. This well had an original TD depth of 19,932' MD. MRO plans to put a rig on this well, extend the lateral starting at a tie-on survey at approximately 19,885' MD,and drill an approximate additional 450' of lateral (extending lateral to approximately 160' FNL of section 30). MRO will then run a cemented liner for a 45-stage plug and perf style completion.
  
• second frack: 45 stages; 5.2 million lbs; cum 502K 4/29; full production profile here; recent production data. :

BAKKEN	9-2017	30	16370	16300	12276	12112	4158	6024
BAKKEN	8-2017	31	20279	20304	16384	14979	5244	7381
BAKKEN	7-2017	31	25626	25591	25477	18929	1475	14540
BAKKEN	6-2017	24	18177	18187	19613	13250	3910	7265
BAKKEN	5-2017	31	23337	23366	28948	17072	10811	3582
BAKKEN	4-2017	7	8727	8599	215	6256	1976	3308
BAKKEN	3-2017	0	0	0	0	0	0	0
BAKKEN	2-2017	8	202	184	40	163	93	4
BAKKEN	1-2017	31	896	875	207	688	317	96
BAKKEN	12-2016	29	771	756	187	608	347	11
BAKKEN	11-2016	30	834	865	192	643	365	9
BAKKEN	10-2016	31	863	842	206	681	402	1

Now we have another nice MRO in that very same drilling unit that has come off-line:

• 22333, IA/1,086, MRO, RH 34-31TFH, t9/12; cum 190K 4/20; off-line 5/18; back on line 5/19;

NDIC File No: 22333     API No: 33-025-01608-00-00     CTB No: 222332 Well Type: OG     Well Status: IA     Status Date: 8/15/2018     Wellbore type: Horizontal Location: SWSE 31-146-93     Footages: 293 FSL 2321 FEL     Latitude: 47.416327     Longitude: -102.576085 Current Operator: MARATHON OIL COMPANY Current Well Name: RH 34-31TFH Elevation(s): 2290 KB   2265 GR   2265 GL     Total Depth: 20492     Field: BAILEY Spud Date(s):  6/1/2012 Casing String(s):  9.625" 2091'   7" 10939'   Completion Data    Pool: BAKKEN     Perfs: 11275-20492     Comp: 9/6/2012     Status: AL     Date: 12/21/2012     Spacing: 2SEC Cumulative Production Data    Pool: BAKKEN     Cum Oil: 171158     Cum MCF Gas: 120288     Cum Water: 154425 Production Test Data    IP Test Date: 9/6/2012     Pool: BAKKEN     IP Oil: 1086     IP MCF: 882     IP Water: 1597

Monthly Production Data Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare BAKKEN 11-2018 0 0 0 0 0 0 0 BAKKEN 10-2018 0 0 0 0 0 0 0 BAKKEN 9-2018 0 0 0 0 0 0 0 BAKKEN 8-2018 0 0 0 0 0 0 0 BAKKEN 7-2018 0 0 0 0 0 0 0 BAKKEN 6-2018 0 0 80 0 0 0 0 BAKKEN 5-2018 7 368 488 375 265 3 199 BAKKEN 4-2018 30 1624 1671 1833 1306 13 935 BAKKEN 3-2018 31 1874 1824 2052 1429 643 395