Updating Some Nice Grayson Mill Wells In Alger Oil Field - January 29, 2025

Locator: 48429ALGER.

From a blog posted April 27, 2012, an update, link here:  

Examples of other wells in the immediate area (these are huge wells):

• 18654, 4,335, Grayson Mill/Statoil/BEXP, Sorenson 29-32 1-H, s2/10; t4/10; cum 458K 10/16; cum 565K 11/24;
• 17355, 3,909, Grayson Mill/Statoil/BEXP, Cvancara 20-17 1-H, s10/10; t3/11; cum 303K 10/16; cum 428K 11/24;
• 19513, 4,661, Grayson Mill/Statoil/BEXP, Sorenson 29-32-2-H, s10/10; t3/11; cum 394K 10/16; cum 533K 11/24;
• 18628, 4,357, Grayson Mill/Statoil/BEXP, Jack Cvancara 19-18 1-H, s3/10; t5/10; cum427K 10/16; cum 569K 11/24;
  
• 19057, 4,106, Grayson Mill/Statoil/BEXP, Domaskin 30-31 1-H, s7/10; t10/10; cum 416K 10/16; cum 501K 11/24;
  

Back in February, 2010, Irish Oil and Gas Company acquired 120 acres in the Alger Field for $7,300/acre which works out to $4.7 million/section. The 120 acres are in sections 11, 12 and 13, T155N-92W.

Back of the envelope:

• eight wells on 1280-acre spacing (this drilling unit has eight wells)
• eight wells x 500,000 bbls cumulative at $50 / bbl = $200,000,000
• $200,000,000 / 1280 = $160,000 / acre

Disclaimer: I often make simply arithmetic errors. Sophia has not double-checked my figures on this.