Random Look At The Hess EN-Joyce Wells -- January 17, 2022

There are several recurring memes regarding the Bakken, e.g.,

• the decline rate;
• daughter wells don't do as well as parent wells;
• high density infills are ruining the Bakken;
• running out of drilling sites;
• halo effect doesn't exist;
• rig counts matter (don't take that out of context);
• others.

It's all in the eyes of the beholder. For me, I'm inappropriately exuberant about the Bakken. It's always entertaining to find exceptions to the memes. Note: I didn't say the memes are not "accurate"; I'm simply saying they are commonly-repeated comments about the Bakken and I find it interesting to find / post exceptions. People with strong biases and inappropriate exuberance do things like that.

It's important to note that my perspective is from the small mom-and-pop mineral owner in North Dakota who often see this as simply a lottery and not particularly interested in investing in companies that are drilling or working in the Bakken. 

Here's another example. 

A long time ago I started tracking the Hess EN-Joyce wells for some reason. I've long forgotten why. I probably had no reason except that it was an "early" pad and I was curious to see how this would play out. Note: Joyce is a family name and that may have had some effect on why I followed the pad. The "family name" had nothing to do with these wells; it was simply a coincidence. 

Hess was not known for great wells in the "early" Bakken boom but has certainly improved over time.

I track the Hess EN-Joyce wells here. 

Note: I've never considered the Manitou oil field a particularly interesting or prolific field. 

Either this area or these wells (or perhaps both) are going to be fascinating to watch over the next ten years. I think this one pad will address a lot of the memes noted above. 

Two examples:

The first well, the parent well: less than 100K after a decade but Hess is still coaxing it along.

• 17887,165, the parent well, off-line; never did well; will be interesting to see if it comes back on line; came back on line, 6/21; off line again, 8/21; 165, Hess, EN-Joyce-156-94-1720H-1, Manitou, t6/09; cum 95K 11/21; intermittent production; struggling;

Recent production:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2021	2	95	15	144	114	114	0
BAKKEN	10-2021	0	0	22	0	0	0	0
BAKKEN	9-2021	1	1	28	0	0	0	0
BAKKEN	8-2021	7	499	499	944	546	510	36
BAKKEN	7-2021	31	2481	2495	4228	2677	909	1768
BAKKEN	6-2021	23	1342	1202	2434	1451	1451	0
BAKKEN	5-2021	0	0	0	0	0	0	0

 Halo effect;

BAKKEN	7-2021	31	2481	2495	4228	2677	909	1768
BAKKEN	6-2021	23	1342	1202	2434	1451	1451	0
BAKKEN	5-2021	0	0	0	0	0	0	0
BAKKEN	4-2021	0	0	0	0	0	0	0
BAKKEN	3-2021	0	0	7	0	0	0	0
BAKKEN	2-2021	2	74	75	8	71	71	0
BAKKEN	1-2021	2	111	103	14	108	108	0
BAKKEN	12-2020	0	0	2	0	0	0	0
BAKKEN	11-2020	1	31	29	1	2	2	0
BAKKEN	10-2020	0	0	0	0	0	0	0
BAKKEN	9-2020	0	0	0	0	0	0	0
BAKKEN	8-2020	0	0	7	0	0	0	0
BAKKEN	7-2020	13	121	133	145	154	154	0
BAKKEN	6-2020	29	340	347	282	441	441	0
BAKKEN	5-2020	31	354	354	261	465	465	0

Initial production: 

BAKKEN	11-2009	30	1675	1750	607	1544	1544	0
BAKKEN	10-2009	22	1441	1336	259	1343	1343	0
BAKKEN	9-2009	18	1256	1305	876	1887	1887	0
BAKKEN	8-2009	31	2735	2743	1561	4034	4034	0
BAKKEN	7-2009	31	4541	4597	2483	6164	6164	0
BAKKEN	6-2009	25	4332	4186	2698	6854	6222	632
BAKKEN	5-2009	8	1721	1602	1557	1071	0	1071

The most recent well:

• 37978, conf-->drl/A, Hess, EN-Joyce-LE-156-94-1721H-5, Manitou, 33-061-04836, HUGE WELL, first production, 4/21; t--; cum 286K 8/21; fracked 4/1/21 - 4/8/21; 10,97 million gallons of water; 85.5% water by mass; note how fast that frack was -- seven days. With regard to the memes, did anyone expect this particular well to produce in excess of 63,000 bbls of oil in one month? That's almost more than what the parent well produced in ten years.
  

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2021	6	2170	2212	4332	5654	5654	0
BAKKEN	10-2021	11	5791	5829	6318	9568	9568	0
BAKKEN	9-2021	30	20353	20346	19161	32419	32419	0
BAKKEN	8-2021	31	19312	19396	22970	29133	28144	989
BAKKEN	7-2021	27	29953	29954	30684	48117	45812	2305
BAKKEN	6-2021	30	25835	26031	36691	43614	35283	8331
BAKKEN	5-2021	31	63335	63032	105944	116662	102218	14444
BAKKEN	4-2021	2	5326	5259	5288	832	776	56

And we move on.