Friday, March 12, 2021

Re-Posting Two Deeper Wells Released By CLR -- March 12, 2021

As an investment, I have no idea whether one would recommend CLR or not. It matters not to me. I have no dog in that fight. What impresses me is how CLR keeps pushing the envelope, and the revenue stream that Harold Hamm is building for himself. Where the H1 and H2 are present and economic, the H1 and H2 density will equal that of the middle Bakken.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

Re-posting: these are first bench and second bench wells.

Rystad:

  • in 2019: estimated 8 years left of drilling in the Bakken
  • 2020: estimates 15 years of drilling in the Bakken; comparable to other US basins, except for 25 years in the Permian (considering federal ban on much of the Permian, that makes sense)

Friday, February 12, 2021: 7 for the month, 40 for the quarter, 40 for the year.

  • 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 74K 1/21;

Wednesday, February 10, 2021: 6 for the month, 39 for the quarter, 39 for the year.

  • 36732, F/A, CLR, Vardon 8-14H2, Siverston, first production, 8/20; t--; cum 113K 1/21;

The CLR Vardon wells are tracked here.  The Vardon well released earlier this week:

  • 36732, F/A, CLR, Vardon 8-14H2, 33-053-09152, Siverston, first production, 8/20; t--; cum 113K 1/21; fracked 1/6/20 - 1/23/20; 10.5 million gallons of water; 89.3% water by mass; target: second bench target zone located between the Internal 1 and the Internal 2 shale. 28,734 over 22 days extrapolates to 39,183 bbls over 30 days:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-2021311341613428106642977129205299
BAKKEN12-2020311844518494130223876738007512
BAKKEN11-20203016889168371410835937345811116
BAKKEN10-2020311674116724167183636135655571
BAKKEN9-2020301906319213178743576434829809
BAKKEN8-20202228734284911895637160320015159
  • 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 74K 1/21;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-202131135131341223400997795700
BAKKEN12-2020176302635813777339231890
BAKKEN11-20203014127142662773785617301868
BAKKEN10-202025773277121747852644467486
BAKKEN9-2020301791617859375821194811276279
BAKKEN8-20201914423139942763693809278102

CLR's Jack wells are tracked here. 

Previously posted, February 12, 2021:

  • 36475, F/A, CLR, Jack 5-4H1, Murphy Creek, first production, 8/20; t--; cum 61K 12/20; fracked 2/11/20 - 2/20/20; 7.9 million gallons of water; 88% water by mass; compared to others, a lousy geology report:
    • target: early Devonian Three Forks B1
    • spud: 0130, October 6, 2019
    • reached KOP: 1118, October 9, 2019
    • lateral
      • begun: 1930 hours, November 15, 2019,
      • gas:ranged from 8- 8,361 units
      • gas buster; flare: averaged 10 - 25' gas flare
      • two hot zones
        • Upper Marker (TF MRK1): 15' into the Three Forks
        • second hot zone: ~ 20' into the Three Forks
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2 comments:

  1. AnonymousMarch 12, 2021 at 8:22 AM

    The title of the Rystad figure says 2019 and 2020 pace. So the figure is not describing two different estimates of location counts (2019, updated in 2020). But instead a fixed estimate of count. Just years being more, with a slower drilling rate. [If you doubt me, just look at the title at the very top of figure 4c, posted in your blog.]

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    1. Bruce OksolMarch 12, 2021 at 8:37 AM

      Did I suggest otherwise? I even mentioned the pace in New Mexico based on the federal leasing ban.

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