Tuesday, April 14, 2020

A Pop-Quiz -- April 14, 2020

Note: I think I have this correct, but with limited knowledge about the oil and gas industry, I could have this wrong. I am posting it to learn more about the Bakken.

A reader noted this; I wasn't paying attention.

Look at the production data at this well:
  • 17159, 811, CLR, Rodney 1-29H, Cedar Coulee,  t8/08; cum 166K 2/20;
This is the production profile for this well going back to February, 2018, (data is available all the way back to the beginning, June, 2008, but the data goes back far enough to make some observations. I will provide some "clues" and then come back later and post what a very, very alert reader noted.

The clues:
  • pay attention to the last three columns, the natural gas produced / sold / flared columns;
  • unlike crude oil, natural gas is not stored on site; 
  • unlike crude oil, natural gas has a very, very short life at the site (the excess is vented/flared, not stored);
  • crude oil can be stored at the site, "indefinitely"; 
  • early on, let's say back before 2017 in the table below, MFC produced = MCF sold + vented/flared;
  • more recently, let's say after May, 2018, in the graphic below, MFC produced ≠ MCF sold + vented/flared
  • so, what changed between May, 2018, and June, 2018? 
The reader's comments will be posted later.
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-202029567767987413490
BAKKEN1-2020315925071127833640
BAKKEN12-201931585551927513320
BAKKEN11-2019305775261107753700
BAKKEN10-201931592524958013820
BAKKEN9-2019305765601078484430
BAKKEN8-2019315895491258994800
BAKKEN7-201931586787958474290
BAKKEN6-201930565511878144090
BAKKEN5-20193161875610882038813
BAKKEN4-2019305814791027463540
BAKKEN3-20193163855097815224172
BAKKEN2-201928552539195786244164
BAKKEN1-2019316335461108364170
BAKKEN12-20183163859710380332955
BAKKEN11-2018306138579377033629
BAKKEN10-20183162459411585942218
BAKKEN9-2018305895629885042718
BAKKEN8-2018316255631008694500
BAKKEN7-2018316225819687444823
BAKKEN6-20183059757011593044589
BAKKEN5-2018316455639563960633
BAKKEN4-201830624878975505500
BAKKEN3-2018316414551036296290
BAKKEN2-2018275815801035395390
BAKKEN1-2018317148341086426420
BAKKEN12-2017317385431937577570
BAKKEN11-201730335278271961906
BAKKEN10-2017316388721037427420
BAKKEN9-20173062156810774772027
BAKKEN8-2017316455651128618610
BAKKEN7-2017316495759083476965
BAKKEN6-2017306628351208288280
BAKKEN5-2017316816041056456450
BAKKEN4-2017306797601075815810
BAKKEN3-2017317098621076126120
BAKKEN2-20172863429310056154318
BAKKEN1-20173172592110261559421
BAKKEN12-20163169978011062256953
BAKKEN11-2016306845521235815810
BAKKEN10-201631715867886216210
BAKKEN9-2016306815661156226220
BAKKEN8-201631709812120754602152
BAKKEN7-2016317125321207257178
BAKKEN6-201630695786123701541160
BAKKEN5-2016317328201056956950
BAKKEN4-201630702592986916910
BAKKEN3-2016317688301187917910
BAKKEN2-2016297125921157027020
BAKKEN1-2016317538881176706700
BAKKEN12-20153175961510568361469
BAKKEN11-20153074191313266960366
BAKKEN10-20153177761710874572916
BAKKEN9-201530665842155649545104
BAKKEN8-20153176151011076971455
BAKKEN7-201531750120712376072931
BAKKEN6-20153076458013376670066
BAKKEN5-2015318005579574867276
BAKKEN4-2015307869051287137130
BAKKEN3-20153076657718266964623
BAKKEN2-2015287269201106586580
BAKKEN1-2015316817692427457450
BAKKEN12-20143179983710580576936
BAKKEN11-20143079183611089886830
BAKKEN10-2014318715971221028101612
BAKKEN9-201430766873113987816171
BAKKEN8-20143183392512787985920
BAKKEN7-20143184981311390788027
BAKKEN6-20143081057680905700205
BAKKEN5-201431817909118101498925
BAKKEN4-20143085284913093086565
BAKKEN3-20143183890611889586431
BAKKEN2-20142872477117887882058
BAKKEN1-20143187883014776969871
BAKKEN12-20133190291211093589540
BAKKEN11-2013308688881309259250
BAKKEN10-201331923907140103210320
BAKKEN9-2013308729441479589580
BAKKEN8-201331924818135101797938
BAKKEN7-201331906877147103599144
BAKKEN6-201330925112313080872880
BAKKEN5-2013319568541679239230
BAKKEN4-201330924803133100010000
BAKKEN3-2013319821024137103510350
BAKKEN2-2013289078641359579570
BAKKEN1-201331100911841359639630
BAKKEN12-201231993691153105510550
BAKKEN11-2012309861081138104310430
BAKKEN10-20123110481072143110311030
BAKKEN9-201230975865157114511450
BAKKEN8-20123110521332180110111010
BAKKEN7-2012311050862152108510850
BAKKEN6-20123010561074155102710270



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