Updates
October 11, 2024: XTO transferring Williams County wells to CLR.
February 23, 2023: the reader was exactly correct. The reader noted that CLR was likely to acquire some XTO wells back in 2022 (in this case, the Christiana wells in West Capa) and that's exactly what transpired.
February 22, 2023: a huge "thank you" to the reader who alerted me to the Kiefel wells. I much appreciate the back story. I am always amazed how many lives my brother touched.
February 22, 2023: see comments. It appears the the two CLR Kiefel wells (#38985 and #38986) have been drilled to depth, the wells have not yet been fracked. If already fracked, the paperwork has not yet caught up, but one would expect "runs" to be reported if the wells had already been fracked. See this note.
August 7, 2022: reader suggests CLR will acquire XTO Christiana wells in West Capa. I haven't seen "change of ownership" over at NDIC yet.
Original Post
A reader asked if I had any thoughts on who might buy XOM's assets in the Bakken?
My brief, not-ready-for-prime-time reply:
No idea. Unless they break it up, it would have to be someone with deep pockets. Even CLR / Harold Hamm couldn’t handle but I bet he’s looking.COP (BR) is in the Bakken; they have deep pockets and (XTO) does have decent locations.More likely, private equity but I can’t believe XOM will get top price. If priced too high, folks would prefer the Permian.
I am betting on CLR. They have taken over a couple Roxy wells That I have a small interest in. If you get bored maybe you could explain The CLR Kiefel 38985-6 wells that look to me to have been drilled vertically but not the horizontal part. I do not know a lot about it. I enjoy the blog everyday. Thank you
ReplyDeleteThank you for that note about Roxy. I'll take a look at Roxy later. As regards Kiefel, those wells are still confidential as you know. It's not unusual for the small rig to spud and drill the first vertical leg -- maybe 2,000 feet -- then bring down the small rig and bring in the large rig to finish the vertical, drill the curve/kickoff, and then the horizontal. I've seen months, sometimes years go by between the initial spud and the big rig. But I would assume, if CLR has completed the initial spud, CLR will drill to total depth by the end of 2023. I would assume drilling to depth and completion (fracking) is getting a lot of attention now that WTI is falling in price. I'm waiting to see what happens with WTI this July.
DeleteKiefel 38985 38986 are actually off the confidential list but I am pretty sure you are right with your explanation. If I am correct I think they have to go off confidential after 6 months. I may be wrong. Thank you for your explanation.
ReplyDeleteI am so sorry. You are correct, and I am so wrong. Both wells, according to the scout tickets, are on DRL status, and both wells have been drilled to depth. Frack data is not posted at the file report and FracFocus has not posted any frack data, suggesting that the wells are waiting to be fracked. I'll post screen shots of the lateral drilling results.
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