The Williston Basin Never Ceases To Amaze -- June 6, 2023

Locator: 44847B.

From yesterday's daily activity report --

One new permit, permitted for re-completion:

• 11865, 170, White Rock Oil & Gas, Mead-Federal 43-20, a Madison formation well; Grassy Butte oil field; t2/1986; cum 456.

This vertical well was drilled back in 1986. It appears to have never missed a month of producing oil since 1986, except in 2022. Now, the operator is looking into re-completing this well. 

Spacing: SE -- one-quarter section -- 160 acres

• homesteader's descendants: 160 acres
• 12% royalty
• average price of oil over the years: $40 / bbl
• 455,795 bbls x $40 x 12% = $2.2 million from one vertical well

The Tyler formation is tracked here but over the years a lot of the links have broken. 

Note: a simple vertical well to about 9,000 feet; no fracking. Compare with a typical Bakken well: vertically about the same depth and then turn horizontally and drill the lateral another 9,000 feet, followed by fracking. Will take about one day to drill once everything is in place.