Another Example Of MRO's Aggressive Bakken Re-Frack Program; New Wells Extrapolating To Nearly 100K Bbls/30-Day Month -- March 12, 2019

Have we posted this one?

The well:

• 33928, 5,935, MRO, Honaker USA 41-30TFH, Reunion Bay, Three Forks, first bench, 45 stages; 6.5 million bbls, t1/19; cum 83K in 28 days -- extrapolates to 88,895 bbls/30-day month;

The scout ticket:

NDIC File No: 33928     API No: 33-053-08138-00-00     CTB No: 233927
Well Type: OG     Well Status: A     Status Date: 12/22/2018     Wellbore type: Horizontal
Location: NENE 30-152-93     Footages: 261 FNL 1025 FEL    
Current Operator: MARATHON OIL COMPANY
Current Well Name: HONAKER USA 41-30TFH
Total Depth: 20969     Field: REUNION BAY
Spud Date(s):  2/26/2018
Casing String(s):  9.625" 2167'   7" 11037'  
Completion Data
   Pool: BAKKEN     Perfs: 11140-20820     Comp: 12/22/2018     Status: F     Date: 1/5/2019     Spacing: 4SEC
Cumulative Production Data
   Pool: BAKKEN     Cum Oil: 82969     Cum MCF Gas: 109657     Cum Water: 82092
Production Test Data
   IP Test Date: 1/5/2019     Pool: BAKKEN     IP Oil: 5935     IP MCF: 7086     IP Water: 5189

Monthly Production Data:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2019	28	82969	82447	81576	109051	8521	94984
BAKKEN	12-2018	2	0	0	516	606	0	606

Royalties: a mineral owner with 80 acres at $50-oil and an 18% royalty:

• 80 / 2560 = 0.03125
• 0.03125 x 82,447 bbls = 2,576 bbls
• 2,576 x $50 = $128,800
• 0.18 x $128,800 = $23,188 for the month of January, 2019

Disclaimer: I often make simple arithmetic errors.

From the file report: geologist's report not yet posted.

The graphics:

Wells of interest:

• 24621, 5.414, MRO, Bobby Lee USA 41-30H, Reunion Bay, t1/19; cum 33K 1/19; 33K over 10 days extrapolates to 98,370 bbls/30-day month;
• 33925, 5,395, MRO, Wendell USA 31-30H, Reunion Bay, t1/19; cum 38K over 12 days extrapolates to 94,620 bbls/30-day month;

• 19230, 649, MRO, Goodall USA 11-29H, Reunion Bay, t1/11; cum 334K 1/19; re-fracked/tested 12/10/18 with an IP of 1,414: full production at this post; recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2019	7	3621	3750	5426	5102	1847	3018
BAKKEN	12-2018	26	22554	22399	34437	33139	16522	15229
BAKKEN	11-2018	0	0	0	0	0	0	0
BAKKEN	10-2018	7	386	377	143	642	0	583
BAKKEN	9-2018	30	2199	2130	804	3213	0	2903
BAKKEN	8-2018	22	795	752	375	1240	0	1064
BAKKEN	7-2018	0	0	0	0	0	0	0
BAKKEN	6-2018	0	0	15	0	0	0	0
BAKKEN	5-2018	10	412	419	70	638	56	499
BAKKEN	4-2018	30	1302	1338	248	2070	588	1161
BAKKEN	3-2018	31	1720	1674	368	2664	602	1686
BAKKEN	2-2018	27	1525	1656	372	2400	50	2024
BAKKEN	1-2018	31	1863	1826	425	2736	210	2132