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Monday, January 10, 2022

Daughter Well With Huge Jump In Production -- This Is What The Bakken Is All About -- January 10, 2022

Two producing wells (DUCs) were reported as completed today. Let's take a look at this one:

  • 37857, 2,616, MRO, Morgan USA 21-5TFH, Reunion Bay, first production, 9/21; t--; cum 92K 11/21; more on this one later. 

Before we begin, some observations:

  • MRO is probably the most exciting operator in the Bakken right now; they've held that distinction for several years at least by one parameter;
  • MRO has an incredible re-frack program in at least two fields, the Bailey and Reunion Bay;
  • when MRO fracks daughter wells, one almost expects to see huge jumps in production in their older, neighboring wells;

So, now, back to today. Today, this DUC was reported as completed:

Two producing wells (DUCs) reported as completed:

  • 37857, 2,616, MRO, Morgan USA 21-5TFH, Reunion Bay, first production, 9/21; t--; cum 92K 11/21; more on this one later.

This well is on a two-well pad; I assume both are completed; we will look at the second well on that pad later. 

I was more curious about the daughter well  running parallel to the two new wells:

  • 18230, 552, MRO, Fisher USA 21-5H, Reunion Bay, t11/09; cum 471K 11/21.

This well was drilled back in 2009.

Note recent production, this past year. Note: 38,379 bbls in 20 days extrapolates to almost 58,000 bbls over 30 days:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20213038482385632863949590465860
BAKKEN10-20212727469
272092604531739295970
BAKKEN9-20213039331
397755409747402443080
BAKKEN8-20212038379377589140240602365901676
BAKKEN7-20210000000
BAKKEN6-20210000000
BAKKEN5-20210000000
BAKKEN4-202116823124522479062919
BAKKEN3-20213117491849346164913590
BAKKEN2-2021281684158732817351197270

This was the best this well had ever done previously, shortly after it was first drilled back in 2009:

BAKKEN2-20102035513549825312303012
BAKKEN1-201018441348451415383903740
BAKKEN12-200931744973131738633206332
BAKKEN11-20093010923109504143928509285
BAKKEN10-200910407734324592346503465

Hubbert's theory says this will not happen.

In the last four months, this well produced 143,6621 bbls of crude oil. Total oil produced prior to these last four months: 327,393 bbls.

  • 143,662 / 327,393 = 44%. 
  • 143,662 / 471,054 = 30%.

So, in the past four months, this well that was drilled almost twelve years ago, produced 30% of its total production to date, and, it produced 44% more of what it has produced in twelve years. That was in four months, and all it cost was the cost of a re-frack. 

The infrastructure was already in place, and the well had already been drilled. 

Well, I think one gets the picture. 

I could say more but I would be accused of gilding the lily. 

Oh, one more thing, this well has long paid for itself, and even if it hadn't, the costs were sunk costs and all has been long forgotten.

Now, back to that other well on the two-well pad:

  • 37856, holy mackerel, another nice well, loc/NC, MRO, Evans USA 11-5TFH, first production, 9/21; t--;  cum 113K 11/21; note, 56,135 bbls over 29 days extrapolates to 58,071 bbls of crude oil:
oolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20212929112292842568736858345930
BAKKEN10-20212927703275142902432988308320
BAKKEN9-20212956135558835749063573592190
BAKKEN8-202110026000

There's another MRO four-well pad to the east and so much activity in the area, it would take weeks to get it all posted, and that could only be done if NDIC data was up-to-date but their map is apparently out-of-date since July, 2021, last summer.

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