Monday, April 19, 2021

Four Wells Coming Off The Confidential List; WTI Holds Above $63 -- April 19, 2021

RBN Energy: E&Ps maintain conservative investment despite rising commodity prices

As the U.S. starts to emerge from under the dark cloud of the COVID-19 pandemic, one hopes that some valuable lessons have been learned as a result of the hardships and sacrifices so many have endured.  
While the most profound impacts were on government, healthcare and other essential services, the sudden drop in hydrocarbon demand a year ago triggered severe financial hardships for the E&P sector and provoked unpleasant memories of previous energy industry crises in 2008 and 2014-16. 
Producers have historically put the brakes on capital spending when commodity prices fell, then stomped on the accelerator like a race car heading into a straightaway when prices rose. But recently unveiled 2021 budgets for many E&Ps suggest that, even with the rebound in prices, they are maintaining a conservative investment paradigm that highlights strengthening balance sheets and rewarding shareholders at the expense of rapid production growth. Today, we’ll analyze the 2021 capital spending plans of the 39 E&Ps we monitor and the likely impact on their crude oil and natural gas output.

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Back to the Bakken


Active rigs
:

$63.23
4/19/202104/19/202004/19/201904/19/201804/19/2017
Active Rigs1732635950

Wells coming off the confidential list --

Wednesday, April 21, 2021: 17 for the month, 17 for the quarter, 98 for the year:

  • None.

Tuesday, April 20, 2021: 17 for the month, 17 for the quarter, 98 for the year:

  • None.

Monday, April 19, 2021: 17 for the month, 17 for the quarter, 98 for the year:

  • 35803, F/A, Enerplus, Blizzard 149-93-07A-12H-TF, Mandaree, first production, 10/20; t--; cum 116K 2/21;

Sunday, April 18, 2021: 16 for the month, 16 for the quarter, 97 for the year:

  • 37716, drl/NC,  CLR, Carson Peak 12-35H1, Oakdale, no production data,
Saturday, April 17, 2021: 15 for the month, 15 for the quarter, 96 for the year:
  • 37794, drl/NC,  CLR, Carson Peak 13-35H, Oakdale, no production data,
  • 36922, AL/A,  MRO, Lang USA 41-8TFH, Reunion Bay, first production, 10/20; t--; cum 206K 2/21, see this post.
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN2-20212827922279882452762227592512790
BAKKEN1-20213131653317823043447235453631741
BAKKEN12-20203055580554865119873570702600
BAKKEN11-2020826150265392202530526289830
BAKKEN10-202017645056360767387679184402020158

Other data for the Lang well, posted elsewhere, also:

FracFocus (link here) -- 33-06-04594:

  • fracked 9/16/20 - 9/28/20:
  • 9.85 million gallons of water (not particularly remarkable; a moderate-size frack)
  • 86.3% water by mass;
  • friction reducers:
  • HVFR-100, DynaChem USA; CAS 64742-47-8;
  • HVFR-100, DynaChem USA; CAS 69011-36-5;

From the file report:

  • from a sundry form received November 13, 20219:
    • name change to Lang USA 41-8TFH;
    • hand-written NDIC note: target formation changed to TF B1;
    • SHL changed to 1184' FNL 845' FEL, section 8-151-93
    • BHL changed to 190' FNL 2460' FEL, section 12-151-94
    • administrative fee for this change: $25.00
  • original permit:
    • middle Bakken:
    • 3200-acre spacing unit: sections 5/6/7/8-151-93, E2 of sections 1 & 12 - 151-94
  • completion report
    • TD: 23,509'
    • target, Three Forks first bench, geologic top, top TVD: 10,638'.
    • IP: 
      • oil: 5,099 bbls
      • gas (MCF): 4,771
    • completion:
      • 17 million lbs proppant; huge frack;
      • stages: 52
      • volume: 234,497 bbls
  • geologist's report not yet scanned in file report

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