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Saturday, March 19, 2022

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:

BAKKEN1-201331806680715848739951072292
BAKKEN12-20121941253589299343079553352
BAKKEN11-201220500760782822495919892970
BAKKEN10-20123112199117067528831915466773
BAKKEN9-20123012318122657842771707717
BAKKEN8-20123124201245701546516975386113114
BAKKEN7-201258635729212475348903489

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":

BAKKEN7-20200010000
BAKKEN6-20200000000
BAKKEN5-20200000000
BAKKEN4-20200010000
BAKKEN3-20200000000
BAKKEN2-20200000000
BAKKEN1-2020001170000
BAKKEN12-20190020000

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

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-202219190122321790234522694
BAKKEN12-202128298424272963375236351
BAKKEN11-2021131019158810728638185
BAKKEN10-202131324726273912317130470
BAKKEN9-202126208116604686278726830

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. 

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