Petroshale With Permits For Ten Tahu Wells In The Best (?) Field In The Bakken -- December 18, 2020

Active rigs:

$49.10	12/18/2020	12/18/2019	12/18/2018	12/18/2017	12/18/2016
Active Rigs	15	53	69	51	40

Seven permit renewals:

• Equinor (6): five Pyramid permits and one Hawkeye permit in Williams County;
• Bruin (3): two Fort Berthold permits in Billings County; one Storhaug permit in Williams County;

Ten new permits, #38030 - #38039, inclusive:

• Operator: Petroshale
• Field: Antelope (McKenzie)
• Comments:
• Petroshale has permits for ten Tahu wells in Antelope oil field, 
• there are formation targets: middle Bakken; first and second bench of the Three Forks;
  
• SENE 29-152-94; there appear to be two "rows," one group about 1940 FNL and between 477 and 727 FEL; the second "row" about ten feet to the north at 1890 FNL and between 451 and 631 FEL;
• 38030, Petroshale, Tahu 1MBH, Antelope, SENE 29-152-94, 1939 FNL 727 FEL;
• 38031, Petroshale, Tahu 1TFH, Antelope, SENE 29-152-94, 1939 FNL 677 FEL;
• 38032, Petroshale, Tahu 2TFH, Antelope, SENE 29-152-94, 1940 FNL 627 FEL;
• 38033, Petroshale, Tahu 2MBH, Antelope, SENE 29-152-94, 1940 FNL 577 FEL;
• 38034, Petroshale, Tahu 3TFH, Antelope, SENE 29-152-94, 1940 FNL 527 FEL;
• 38035, Petroshale, Tahu 3MBH, Antelope, SENE 29-152-94, 1941 FNL 477 FEL;
• 38036, Petroshale, Tahu 1TF2H, Antelope, SENE 29-152-94, 1890 FNL 631 FEL;
• 38037, Petroshale, Tahu 2TF2H, Antelope, SENE 29-152-94, 1890 FNL 571 FEL;
• 38038, Petroshale, Tahu 3TF2H, Antelope, SENE 29-152-94, 1890 FNL 511 FEL;
• 38039, Petroshale, Tahu 4TF2H, Antelope, SENE 29-152-94, 1891 FNL 451 FEL;

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The Petroshale Tahu Permits

Updates

April 27, 2021:

Original Post

This is really very interesting. The wells are already confidential so we don't know the spacing unit, but the location certainly suggests they are running north - south. The question is whether five horizontals will run to the north and five horizontals will run to the south.

The graphics:

Based on wells in the general area, it seems most likely these horizontals will run to the north. If so, then here are the wells to the north, running south:

 

The producing wells in the graphic above:

• 33005, 1,560, Petroshale, Petroshale US 3H, Antelope-Sanish, t3/18; cum 488K 10/20;
• 33004, A, Petroshale, Petroshale US 4H, Antelope-Sanish, t3/18; cum 384K 10/20;
• 32767, 2,759, Petroshale, Petroshale US 8H, Antelope-Sanish, t1/17; cum 577K 10/20;
• 33010, 1,391, Petroshale, Petroshale US 12H, Antelope-Sanish, t3/18; cum 201K 10/20;
• 33204, 1,934, Petroshale, Petroshale US 13H, Antelope-Sanish, t5/19; cum 488K 10/30;

Comments: these are incredible wells, and now Petroshale plans to put in ten more wells in the same area targeting three different formations. This takes me back to the early days of the Bakken boom. There are many, many comments I could make regarding these wells, but I lose interest anticipating the push back I will get from from inappropriate exuberance. Suffice to say these wells are telling a story about the Bakken that a lot of folks foretold back in 2010.

One observation: #33010 -- 201K cumulative bbls crude oil in less than eighteen months.