That's correct.
I won't argue.
But then this. These are the two wells that came off the confidential list today (see below). Neither well was particularly remarkable for wells being reported in 2019 - 2020. These are very, very mediocre wells from my point of view in the overall scheme of things. But compare these two wells with the wells that were being reported in 2008 - 2012.
These 2019 - 2020 wells are huge in comparison.
The wells reported in 2008 - 2012 were "lucky" to hit 100,000 bbls in two years. Now, it's a downer if a Bakken well doesn't hit 100,000 bbls in the first six months.
Also, note the small number of stages in these two wells. In addition, one well used a relatively small amount of sand, the other, much more sand.
The wells:
- 35883, 771, Liberty Resources, Haley 158-93-29-32-10MBH, 27 stages; 10.8 million lbs; East Tioga, t8/19; cum 84K 12/19;
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare BAKKEN 12-2019 31 12821 12824 27030 19391 18005 1386 BAKKEN 11-2019 30 17254 17075 32828 22002 21903 99 BAKKEN 10-2019 29 18518 19143 36882 23081 22776 305 BAKKEN 9-2019 30 21213 20269 43747 27694 24225 3469 BAKKEN 8-2019 21 13743 13176 49340 19004 16143 2861 - 28194, 864, Oasis, Lewis Federal 5300 21-31 5B, 35 stages; 6 million lbs; Baker, t8/19; cum 110K 12/19;
BAKKEN 12-2019 31 24968 24993 22021 35133 18155 16761 BAKKEN 11-2019 23 18655 18652 14133 22141 16465 5515 BAKKEN 10-2019 31 27716 27835 27051 28027 22607 5203 BAKKEN 9-2019 30 26888 26786 29143 24662 22938 1514 BAKKEN 8-2019 13 12150 11995 13557 10642 10266 285
By the way, Lynn Helms tells us that "they" are getting close to drilling out the Tier 1 areas in the Bakken. I will "never " disagree / argue with the Director, NDIC. He knows this stuff better than anyone. Having said that, note that the two wells above were middle Bakken wells. Operators still have the Three Forks. When I see no more middle Bakken wells being drilled, and 100% of new wells being drilled are Three Forks wells, then I will know that things have changed.
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