Why There Is So Much Work Yet To Be Done In The Bakken -- February 6, 2020

For newbies: this is why I often say that there is so much work yet to be done in the Bakken. All the early wells need to be re-fracked or re-drilled/re-fracked using "modern" completion (fracking) strategies.

Here's a great example.

These two wells were permitted about the same time, back in 2014.

The first one, #28648, was drilled/completed in early 2015, using "old" completion (fracking) strategies. The second one, #28194, was only recently drilled/fracked, using new completion strategies. Note the huge difference in the first five months of production. 

The wells:

• 28648, 1,234, Oasis, Chalmers 53-- 21-19 9B, 36 stages; 3.8 million lbs; Baker, t5/15; cum 173K 12/19; first five months of production:

BAKKEN	9-2015	29	9841	9774	12231	6653	703	5950
BAKKEN	8-2015	13	3052	3074	12975	424	0	424
BAKKEN	7-2015	21	3909	4207	5446	548	55	493
BAKKEN	6-2015	30	21290	21205	43491	17994	17366	628
BAKKEN	5-2015	14	12338	12049	12021	8973	8973	0

• 28194, conf, Oasis, Lewis Federal 5300 21-31 5B; this permit was issued about the same time as the permit for #28648 above. That well above was drilled/completed in early 2015; this well (#28194) was only recently drilled and completed (late 2019, four and a half years later):

Date	Oil Runs	MCF Sold
12-2019	24993	18155
11-2019	18652	16465
10-2019	27835	22607
9-2019	26786	22938
8-2019	11995	10266

Yes, we don't the number of days the second well was producing (mostly likely full months starting in September), but mineral owners don't really care about details like that. Most mineral owners are only interested in the size of the check.