Sunday, October 6, 2019

Just Too Much Work To Be Done In The Bakken -- October 6, 2019

Going through well after well after well -- the old, old, first generation wells drilled in the early days of the Bakken boom (permits of the 16XXX and 17XXX series) -- and then the newest wells being drilled now, and then looking at recent wells affected by the "halo effect," it brings home how much work the oil companies in North Dakota have yet to do:
  • prioritize the older wells for re-fracks; re-work;
  • find wells best suited for the "halo effect";
  • drill new development wells; put wells in known Tier 1 areas; in-fill wells
  • drill new wells on the periphery of the Tier 1 areas; expand the Tier 1 areas; gradually move into Tier 2
  • start advancing the first bench of the Three Forks; only one operator has been doing the bulk of this, CLR
  • manage flaring issues
  • looking for new acquisitions
  • looking to sell non-core assets
I was reminded of that by looking at another non-descript, but incredibly typical well in the Bakken.

Back in 2017, I wrote:
  • 17079 -- CLR, a nice well; petering out
So, checking toay, to see how this well was going on, let's look at the well from about that time -- 2017 and going forward:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2019311948209685323141231664
BAKKEN7-20193121602418107725321164949
BAKKEN6-20193022152032127125931377811
BAKKEN5-2019261792197510531953682940
BAKKEN4-20193023512274164223945181471
BAKKEN3-2019141925159413401237542519
BAKKEN2-20190000000
BAKKEN1-2019002310000
BAKKEN12-20180000000
BAKKEN11-201814135014076121554604783
BAKKEN10-201831321132691073325114511381
BAKKEN9-201830280327951320282212171200
BAKKEN8-201829269523043178298813681236
BAKKEN7-201842132212518024125
BAKKEN6-2018002250000
BAKKEN5-20181511671614789809800
BAKKEN4-2018302457235912318611747114
BAKKEN3-2018312441208810517991484315
BAKKEN2-20182822442362951512150111
BAKKEN1-20183125932585107177117710
BAKKEN12-20173124932549155169416940
BAKKEN11-20173034763467982294227618
BAKKEN10-2017254332203081721720
BAKKEN9-2017301590014140
BAKKEN8-2017311792122243376
BAKKEN7-20173121123543796118
BAKKEN6-20173014323630843430
BAKKEN5-2017303502181451881799

In 2017 this well appeared to be on its last legs, and then "something happened." CLR brings this well back to a respectable 2,500 bbls/month. Nothing great, but the well is alive and kicking.

The well:
  • 17079, 559, CLR,  Carson Peak 44-2H, Oakdale, t6/08; cum 324K 8/19;
The Carson Peak wells are tracked here. Note that I've said that this particular well, #17079, was a re-frack candidate. 

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