From Tsvetana Paraskova:
Cushing, the home of the ‘black gold rush’ and the world’s largest onshore oil storage hub is once again reducing its oil stockpiles as an increase in demand looks set to continue into 2021.
In November, reports suggested that oil was once again being stockpiled in Cushing, Oklahoma. Commercial stocks increased to 61.1 million barrels in mid-November, once again reaching April levels; when oil was experiencing its lowest demand. This figure stood at over 1 million more than the previous week and 39.3 percent higher than the same week in 2019.
However, by the end of November the outlook was brighter as demand started to increase. Stocks dropped to around 60 million barrels, once again heading towards normal levels. This reflects the gradual strengthening of the market to the pre-Covid period, as optimism around the vaccine and the new year drive demand up.
**********************************
Back to the Bakken
Active rigs:
$47.74 | 12/21/2020 | 12/21/2019 | 12/21/2018 | 12/21/2017 | 12/21/2016 |
---|---|---|---|---|---|
Active Rigs | 15 | 54 | 69 | 52 | 42 |
No new permits.
One re-entry permit:
- 17553, 681, MRO, Lil J. Reiss 34-9H, Killdeer, t2/10; cum 264K 10/20;
*********************************
Re-Entry Permit
The well:
- 17553, 681, MRO, Lil J. Reiss 34-9H, Killdeer, t2/10; cum 264K 10/20; recent production;
Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
---|---|---|---|---|---|---|---|---|
BAKKEN | 10-2020 | 31 | 1084 | 1051 | 220 | 836 | 33 | 560 |
BAKKEN | 9-2020 | 30 | 1032 | 1018 | 265 | 802 | 24 | 543 |
BAKKEN | 8-2020 | 31 | 1079 | 1054 | 233 | 835 | 2 | 590 |
BAKKEN | 7-2020 | 31 | 1038 | 1024 | 262 | 812 | 0 | 571 |
BAKKEN | 6-2020 | 30 | 1046 | 1013 | 240 | 812 | 0 | 577 |
BAKKEN | 5-2020 | 31 | 1097 | 1088 | 258 | 845 | 0 | 603 |
BAKKEN | 4-2020 | 30 | 998 | 1051 | 215 | 774 | 0 | 549 |
BAKKEN | 3-2020 | 31 | 1164 | 1114 | 300 | 881 | 0 | 633 |
- Initial production:
BAKKEN | 7-2010 | 31 | 5198 | 5127 | 787 | 2270 | 2090 | 0 |
BAKKEN | 6-2010 | 30 | 5793 | 6007 | 880 | 2658 | 2478 | 0 |
BAKKEN | 5-2010 | 31 | 7066 | 6794 | 1047 | 3061 | 2877 | 0 |
BAKKEN | 4-2010 | 30 | 8208 | 8263 | 1287 | 3600 | 3422 | 0 |
BAKKEN | 3-2010 | 31 | 11498 | 11519 | 1740 | 5167 | 4981 | 0 |
BAKKEN | 2-2010 | 26 | 14234 | 14220 | 3333 | 5902 | 5758 | 0 |
BAKKEN | 1-2010 | 2 | 463 | 0 | 0 | 95 | 83 | 0 |
Sundry forms of interest:
- Approved: to re-enter; unit spacing consisting of sections 4/9-145-94; the Killdeer-Bakken pool is defined as that interval from 50 feet from above the top of the Bakken formation to 100 feet below the top of the Three Forks formation. Can drill no closer than the 150' setback from the south boundary and 50' setback from the north boundary and 500' setback from the east and west boundaries.
- MRO plans to re-frack this well; originally an open hole completion in 2009 and drilled when the setbacks were 500' from the respective section line.
- MRO plans to put a drilling rig on this well, clean out the existing lateral to TD and extend/sidetrack the lateral at the last good survey on original lateral at a depth of 19,805.
- MRO plans to drills an approximate 400' extension (north) to a BHL of 20,260' MD, approx 175' FNL of section 4, followed by a 45-stage frack.
- The well will be completed with offset wells to the west are scheduled to frack late 2020.
The wells to the west (still permit only, not drilled):
- 37171,
- 37172,
- 37173,
- 37174,
- 37175,
There is one producing well a bit farther to the west:
- 17314, 431, MRO, Brown 24-9H, Killdeer, t8/08; cum 445K 10/20; this well had a large jump in production 10/14; this well was re-fracked/stimulated 9/21/14 with 1.34 million lbs proppant over 30 stages ( a very small re-frack).
BAKKEN 6-2015 30 6375 6480 2345 5019 3068 1089 BAKKEN 5-2015 31 6800 6672 2633 4905 820 3175 BAKKEN 4-2015 30 6918 7133 2730 5270 1631 2721 BAKKEN 3-2015 31 7670 7408 3390 5486 1320 3159 BAKKEN 2-2015 28 7375 7316 3206 5831 2406 2468 BAKKEN 1-2015 31 10114 10144 5408 7407 4226 1914 BAKKEN 12-2014 17 8699 8735 5160 5689 3033 1627 BAKKEN 11-2014 18 4062 4068 1995 2443 1133 772 BAKKEN 10-2014 29 10727 10682 6558 6850 3832 1699 BAKKEN 9-2014 0 0 0 0 0 0 0 BAKKEN 8-2014 4 219 230 9 154 23 101 BAKKEN 7-2014 31 1109 1099 200 894 516 77 BAKKEN 6-2014 30 1102 902 260 867 473 96 BAKKEN 5-2014 31 1120 1360 231 913 588 19 BAKKEN 4-2014 30 1115 1102 245 912 559 54 BAKKEN 3-2014 31 1153 1136 242 942 577 56 BAKKEN 2-2014 28 1088 950 230 869 526 59 BAKKEN 1-2014 31 1192 1161 236 956 522 124
Initial production:
BAKKEN | 3-2009 | 28 | 3546 | 3467 | 430 | 1602 | 1602 | 0 |
BAKKEN | 2-2009 | 28 | 3723 | 3806 | 517 | 1541 | 1541 | 0 |
BAKKEN | 1-2009 | 31 | 4579 | 4408 | 692 | 1902 | 1902 | 0 |
BAKKEN | 12-2008 | 31 | 5019 | 5076 | 753 | 1250 | 1250 | 0 |
BAKKEN | 11-2008 | 27 | 6116 | 5805 | 935 | 2463 | 2463 | 0 |
BAKKEN | 10-2008 | 28 | 4515 | 4773 | 533 | 1979 | 1979 | 0 |
BAKKEN | 9-2008 | 30 | 6565 | 6608 | 942 | 2915 | 2915 | 0 |
BAKKEN | 8-2008 | 27 | 7087 | 6654 | 2830 | 2911 | 2911 | 0 |
Comments:
- lots of work left to be done in the Bakken;
- one reason why I've never been overly worried about the decline rate;
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.