A Strobeck Well In Alger Field Is Back -- Grayson Mill -- March 19, 2022

Locator: 10029B.

I don't know the history of this well or the back story, but for me it tells me a lot about the mystery of the Bakken. All I can say is there's still a lot of work to be done in the Bakken, and this basin still has some surprises coming.

The well;

• 22034, 2,944, Grayson Mill / Equinor / Statoil / BEXP, Strobeck 27-34 2H, Alger, t7/12; cum 284K 1/21; cum 307K 8/23;
  

This well was drilled back in 2012. At that time BEXP was a huge name in the Williston Basin. It was bought out by the Norwegian national oil company, Statoil, when later changed its name to Equinor, and in turn Equinor sold its Bakken assets to Grayson Mill Operating, LLC. 

When this well was drilled in 2012, an IP of 2,944 was huge. Absolutely huge. But BEXP / Statoil wells had a severe decline rate, like all the Bakken wells at that time.

Initial production:

BAKKEN	1-2013	31	8066	8071	5848	7399	5107	2292
BAKKEN	12-2012	19	4125	3589	2993	4307	955	3352
BAKKEN	11-2012	20	5007	6078	2822	4959	1989	2970
BAKKEN	10-2012	31	12199	11706	7528	8319	1546	6773
BAKKEN	9-2012	30	12318	12265	7842	7717	0	7717
BAKKEN	8-2012	31	24201	24570	15465	16975	3861	13114
BAKKEN	7-2012	5	8635	7292	12475	3489	0	3489

The well leveled off at 1,500 bbls / month and stayed there "forever," very, very typical of those early Bakken wells.

Then when the price of oil imploded in 2019 / 2020, the well was taken off line. This is what it looked like for almost two years, mostly "zeros":

BAKKEN	7-2020	0	0	1	0	0	0	0
BAKKEN	6-2020	0	0	0	0	0	0	0
BAKKEN	5-2020	0	0	0	0	0	0	0
BAKKEN	4-2020	0	0	1	0	0	0	0
BAKKEN	3-2020	0	0	0	0	0	0	0
BAKKEN	2-2020	0	0	0	0	0	0	0
BAKKEN	1-2020	0	0	117	0	0	0	0
BAKKEN	12-2019	0	0	2	0	0	0	0

But, now, look at this. This well is back.

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	1-2022	19	1901	2232	1790	2345	2269	4
BAKKEN	12-2021	28	2984	2427	2963	3752	3635	1
BAKKEN	11-2021	13	1019	1588	1072	863	818	5
BAKKEN	10-2021	31	3247	2627	3912	3171	3047	0
BAKKEN	9-2021	26	2081	1660	4686	2787	2683	0

Let's see if the file report / sundry forms provide any insight:

• sundry form, received May 6, 2021: transfer of wells from Equinor to Grayson Mill, 1160 Dairy Ashford Rd #140, Houston, TX.
• sundry form, received June 17, 2021: authorization to purchase and transport oil from lease

That's all there is. A big company like Equinor simply wasn't interested in these stripper wells, but a new company comes in and makes these wells work financially.

So, we will tag this for December, 2023, and see how this well is doing next year.