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Sunday, September 29, 2019

The Ideal Bakken Well -- More Common Than Unicorns -- September 29, 2019

I define the ideal well as one that pays for itself in six months and then generates free cash flow for the next 35 years.

Even better than the ideal well is the ideal Bakken well: this is a well that pays for itself in six months; generates free cash flow for the next 35 years; and, on top of all that, shows repeated jumps in production.

Example:
  • 22371, 3,668, QEP/Helis, Hazel 13-34/27H, Grail, t5/13; cum 629K 8/19;
Production profile, selected:
BAKKEN3-20193112137121048312511063975311060
BAKKEN2-20192810756109317540409402667114048
BAKKEN1-20193117713178101009544978381346584
BAKKEN12-20183120779205971159346896398946736
BAKKEN11-2018301543115396872526617216404785
BAKKEN10-20183117613176881063932697278924614
BAKKEN9-20183018851186691373329515244744862
BAKKEN8-20183121462215661376132978277904981
BAKKEN7-20183127368275643085440865350415621
BAKKEN6-2018892738709234231266196082809
BAKKEN5-2018001130000
BAKKEN4-2018231796181480135302595629
BAKKEN3-2018312290238295445423366747
BAKKEN2-2018252009189083936952835536

Back in 2013 when this well was drilled and first began production, it topped out at 27,119 bbls in one 31-day period (8/13) -- and that figure was beat in 7/18 when it produced 27,368 bbls oin one 31-day period:
BAKKEN12-201320106411052214921725616201945
BAKKEN11-20133016477164462328293152921996
BAKKEN10-2013311969719498348228731262082498
BAKKEN9-2013251221712557211018177157482283
BAKKEN8-2013312711927367294845446402944916
BAKKEN7-20133115559149512706443383239711733
BAKKEN6-2013301552215754190941733417330
BAKKEN5-2013524041236292531889688960

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