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Monday, December 21, 2020

Daily Activity Report Posted But Mis-Labeled; No New Permits; MRO With A Re-Entry Permit -- December 21, 2020

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.

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Back to the Bakken


Active rigs:

$47.74
12/21/202012/21/201912/21/201812/21/201712/21/2016
Active Rigs1554695242

No new permits.

One re-entry permit:

  • 17553, 681, MRO, Lil J. Reiss 34-9H, Killdeer, t2/10; cum 264K 10/20

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Re-Entry Permit

The well:

  • 17553, 681, MRO, Lil J. Reiss 34-9H, Killdeer, t2/10; cum 264K 10/20; recent production;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN10-2020311084105122083633560
BAKKEN9-2020301032101826580224543
BAKKEN8-202031107910542338352590
BAKKEN7-202031103810242628120571
BAKKEN6-202030104610132408120577
BAKKEN5-202031109710882588450603
BAKKEN4-20203099810512157740549
BAKKEN3-202031116411143008810633
    • Initial production:
BAKKEN7-20103151985127787227020900
BAKKEN6-20103057936007880265824780
BAKKEN5-201031706667941047306128770
BAKKEN4-201030820882631287360034220
BAKKEN3-20103111498115191740516749810
BAKKEN2-20102614234142203333590257580
BAKKEN1-201024630095830

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).
    BAKKEN6-201530637564802345501930681089
    BAKKEN5-20153168006672263349058203175
    BAKKEN4-201530691871332730527016312721
    BAKKEN3-201531767074083390548613203159
    BAKKEN2-201528737573163206583124062468
    BAKKEN1-20153110114101445408740742261914
    BAKKEN12-201417869987355160568930331627
    BAKKEN11-20141840624068199524431133772
    BAKKEN10-20142910727106826558685038321699
    BAKKEN9-20140000000
    BAKKEN8-20144219230915423101
    BAKKEN7-2014311109109920089451677
    BAKKEN6-201430110290226086747396
    BAKKEN5-2014311120136023191358819
    BAKKEN4-2014301115110224591255954
    BAKKEN3-2014311153113624294257756
    BAKKEN2-201428108895023086952659
    BAKKEN1-20143111921161236956522124

Initial production:

BAKKEN3-20092835463467430160216020
BAKKEN2-20092837233806517154115410
BAKKEN1-20093145794408692190219020
BAKKEN12-20083150195076753125012500
BAKKEN11-20082761165805935246324630
BAKKEN10-20082845154773533197919790
BAKKEN9-20083065656608942291529150
BAKKEN8-200827708766542830291129110

Comments:

  • lots of work left to be done in the Bakken;
  • one reason why I've never been overly worried about the decline rate;

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