- 35331, conf, MRO, Dietrich USA 11-2TFH, API: 33-061-04266, Reunion Bay, FracFocus, fracked 8/11/19 - 8/28/19; 8.3 million gallons; water by mass, 88.9%:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 10-2019 | 40337 | 0 |
| 9-2019 | 72732 | 0 |
Neighboring wells:
To the east, running south to north:
- 22455, IA/1,780, MRO, Mylo Wolding 24-11H, Reunion Bay, t6/12; cum 342K 8/19; offline as of 8/19; remains off line 10/19;
- 21199, IA/1,764, MRO, Lucky One 21-2THF, Reunion Bay, t6/12; cum 299K 8/19; off line as of 8/19; remains off line 10/19;
- 21457, IA/1,829, MRO, Lucky One 21-2H, Reunion Bay, t6/12; cum 298K 6/19; off line as of 6/19; remains off line 10/19;
- 25544, IA/1,468, MRO, Rudolph 44-10TFH, Reunion Bay, t10/13; cum 251K 12/18; off line as of 12/18; remains off line 10/19;
- 21369, IA/1,737, MRO, Wakelum 41-3H, Reunion Bay, t4/12; cum 342K 12/18; off line as of 12/18; remains off line 10/19;
- operators are bringing costs to complete a well down to $6 million/well in the Bakken
- 110,000 x $50 = $5.5 million
I'm guessing that the cost-recovery production is somewhere north of 160,000 after taking into account lessor royalties, severance taxes and, of course, "shipping and handling". But still, I wish I could conjure up some investments where I get my money back in four months and then just ring the cash register for a number of years. I suspicion most royalty recipients get their money back in the first check.....
ReplyDeleteAs others have pointed out, there are a lot of expenses, deductions, etc., that affect all this, and my way of figuring things is completely wrong. I accept that; but back-of-the-envelope calculations is the only way I can put these things in perspective. I remember when I first started blogging, the cost of a well was running closer to $10 million; production didn't hit 100,000 bbls for a year or so; and, most wells were "greenfield" with all the costs associated with a new well in a brand new area with no infrastructure. So, I know a lot of folks will criticize me for my simplicity but as noted, it's only to help put things in perspective.
DeleteI agree, it does put things into perspective, especially when one takes a minute to contemplate all those wells with 500K cumulative. Sorry, didn't mean to come across as so critical
ReplyDeleteI didn't read anything critical.....I have a very thin skin, so if someone is too critical, I wouldn't post the comment. LOL. No, I've learned a lot from my readers. Good luck this week
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