See initial production data for wells coming off the confidential list this next week at this link.
- rigs don't matter: don't take this out of context
- I think I recall CLR had only five rigs on the active rig list last week; needs to be fact-checked; most observers expected CLR to have at least eight active rigs in North Dakota by now, if not nine
- if it weren't for CLR, would we even be talking about the Bakken today?
- of the 17 wells coming off confidential list:
- CLR: 8
- Ovintiv: 4
- Petroshale: 3
- Hess: 2
- of the 17 wells coming off the confidential list, those reporting production:
- Petroshale: 3 (and two of the wells look mediocre at best)
- Hess: 2 (nice to very nice wells)
- CLR: 1 ( a mediocre well at best)
- operations
- even CLR not getting their wells fracked
- there is no use adding rigs to drill more wells, when one can't even get exiting wells completed -- CLR
- except for CLR, and maybe two or three others, producers aren't able to frack
- pad drilling;
- the only reason there are seventeen wells even coming off the confidential list: pad drilling
- without pad drilling, all of eight wells might be coming off confidential list this next week
On the CLR rig count last week in the LCU at least one rig and possibly both were moving up the hill from the Reckitt / Ralph / Foster drainage then back down the Truman drainage.
ReplyDeleteThat explains that, thank you.
DeleteRegardless, it was quite a shock to see only five CLR active rigs, albeit a snapshot in time.
With oil at $110 and unhedged, CLR would have eight rigs active all the time if frack spreads were available and / or affordable.
Delete