Random Dots Looking At Fracking: Is Fracking a Commodity? Simply Pressure Pumping?

Reading about Liberty Resources this past week got me to thinking about fracking, again. I'm not going to post any of my thoughts, but here are some dots that may pique your interest:

SeekingAlpha.com on CJES. The link to the CJES recent corporate presentation; no indication that CJES is active in the Bakken.

Liberty Resources.

Schlumberger transcript, 4Q11, Q & A:

Well, if you look at pressure pumping pricing levels, as I said, we continue to see downwards pressure on pricing in gas in Q4. The liquid basins, we saw pricing basically being flat, some contracts being up, and some contacts being down. Now how this is going to evolve, I think, is still uncertain at this stage, right? There is obviously a chance that the continued flux of capacity from the gas basins into the liquid basins is going to have an impact on liquids pricing as well. We haven't really seen any downwards trend yet. But clearly, over the past quarter, the pricing has been flat, so that's basically where we stand on that. In terms of our view on North America land, like we said before, we remain committed to the markets.

A horizontal well's production potential:

• Location: maturity, porosity, permeability, trapping, TOC, thickness, 3-D seismography, arrays
• Ability of horizontal bore to remain in target zone: 
• Completion: fracking, drilling fluids, stages, method, sand, ceramics

Random Look at Oasis Wells in the Williston Area

Indian Hill, south of Williston, south of the river: eight wells in one section; Baker oil field; all wells are on 2-well pads; four 2-well pads in one section.

• 22099, 863, Oasis, Yukon 5301 41-12T/Daphne 5301 41-12B, Baker oil field,  t9/13; cum 104K 9/16; cum 206K 11/21; cum 238K 11/24;
  
• 22100, PA/AB/1,317, Oasis, Achilles 5301 41-12B, Baker oil field, t2/12; cum 187K 1/15;


• 22220, 1,962, Oasis, Jefferies 5301 43-12B, Baker oil field, t4/12; cum 214K 9/16; cum 289K 11/21; cum 321K 11/24;
• 22221, 1,379, Oasis, Innoko 5301 43-12T/Timmons 5301 43-12B, Baker oil field, t9/13; cum 133K 9/16; cum 205K 11/21; cum 226K 11/24;


• 20863, 1,167, Oasis, Foley Federal 5301 43-12H, Baker oil field, t12/11, cum 235K 9/16; cum 318K 11/21; cum 352K 11/24;
• 20864, 2,521, Bray 5301 43-12, Baker oil field, t1/12, cum 230K 9/16; cum 307K 11/21; cum 325K 11/24;


• 22739, PNC, Oasis, Linda 5301 44-12B, Baker oil field;
  
• 22740, 3,863, Oasis, Larry 5301 44-12B, Baker oil field; t9/12; cum 229K 9/16; cum 302K 11/21; cum 329K 11/24;

Southeast of Williston, north of the river; seven Oasis wells in one section, in Crazy Man Creek, one section, 12-153-100; 2-well pads (except for a 22225).

• 22303, 1,952, Oasis, Thomas S 5300 41-12B, Crazy Man Creek, t10/12; cum 275K 9/16; cum 368K 11/21; cum 401K 11/24;
• 22304, 1,364, Oasis, Celia S 5300 41-12T, Crazy Man Creek, t10/12; cum 206K 9/16; cum 289K 11/21; cum 318K 11/24;
  


• 19638, 2,563, Oasis, Davis 5300 42-12H, Crazy Man Creek, t9/12; cum 219K 9/16; cum 325K 11/21; cum 359K 11/24;
• 19639, 2,414, Oasis, Cook 5300 42-12H, Crazy Man Creek, t9/11; cum 325K 9/16; cum 459K 11/21; cum 485K 11/24;


• 22225, 868, Oasis, A K Stangeland 5300 43-12T, Crazy Man Creek, t9/12; cum 189K 9/16; cum 271K 11/21; cum 299K 11/24;
  


• 22347, 2,621, Oasis, Basey 5300 44-12T, Crazy Man Creek, t9/12; cum 200K 9/16; cum 280K 11/21; cum 303K 11/24;
  
• 22348, 2,661, Oasis, Kovars 5300 44-12B, Crazy Man Creek, t9/12; cum 203K 9/16; cum 291K 11/21; cum 320K 11/24;

A Closer Look at The Liberty Resources Wells -- The Bakken, North Dakota, USA

In response to earlier postings regarding Liberty Resources, a reader sent in the following:

Section 21-156-100; 18 oil storage tanks; pumping and flaring, East Fork; rumors of 3,000 bopd each well; early production

• 21045, 3,205, BEXP, Ruth 28-33 1H, middle Bakken, East Fork, t4/12; cum 79K 9/12;
• 21046, 2,264, BEXP, Jack 21-16 1H, middle Bakken, East Fork,  t5/12; cum 52K 9/12;

Section 18-156-100; 20 oil storage tanks; flaring

• 21197, 1,100, Liberty Resources, Jackman 156-100-18-19-1H, East Fork, t4/12; cum 83K 9/12;
• 21198, 961, Liberty Resources, Berger 156-100-7-6-1H, East Fork; t4/12; cum 96K 9/12;

Section 15-156-101; 20 oil storage tanks; being prepped for fracked

• 22067, 758, Liberty Resources, Sylte 156-101-10-3-1H, Tyrone, t6/12; cum 81K 1/13;
• 22068, 567, Liberty Resources, Sylte 156-101-15-22-1H, Tyrone,t6/12; cum 72K 1/13;

Other Liberty Resource wells of recent vintage:

• 21680, 800, Liberty Resources, Nygaard 150-101-28-33-1H, Pronghorn, t9/12; cum 58K 1/13;
• 21421, 648, Liberty Resources, Fritz 150-101-32-29-1H, wildcat (32-150-101), t5/12; cum 46K 9/12;
• 22709, conf, Liberty Resources, Gullikson 152-103-31-30-1H, Glass Bluff,
• 22401, 876, Liberty Resources, Lukenbill 155-101-11-2-1H, Cow Creek, t9/12; cum 67K 1/13;
• 21141, 1,108, Liberty Resources, Anna 156-100-8-5-1H, East Fork, t8/12; cum 79K 1/13;
• 22522, 522, Liberty Resources, Nelson 156-100-17-20-1H, East Fork, t8/12; cum 91K 1/13;
• 20748, 599, Liberty Resources, Lindy 156-100-10-3-1H, East Fork, t5/12; cum 43K 9/12;
• 20736, drl, Liberty Resources, Jackman 156-100-11-2-1H, East Fork,
• 22495, 805, Liberty Resources, Borrud 156-101-1-12-1H, Tyrone, t8/12; cum 92K 1/13;
• 21578, 470, Liberty Resources, Berger 156-101-9-4-1H, Tyrone, t7/12; cum 46K 1/13;
• 21481, 691, Liberty Resources, Cornabean 156-101-25-36-1H, Tyrone, 7/12; cum 93K 1/13;

200 Days For Federal Permit

200 days to get a permit to drill on federal land.

The Bakken Oil play has taken off like wildfire. But oil companies say there are still several delays at the federal level. So independent oil and gas producers went to Washington to advocate for better policies to enhance drilling in the west.

Two hundred days is the average amount of time it`s taking oil companies in North Dakota to get drilling permits on federal land. That`s just one of the policies the Western Energy Alliance wants to change at the federal level.

I have mixed feelings on this one. With such a huge backlog of wells to be drilled, is 200 days all that important? Are there better issues to fight? Exactly what does the approving agency base its decision on anyway -- for granting a permit? Is 200 days even enough time to do an adequate job? I really don't know. The number of days required to issue a permit is way beyond me.

For Investors Only: XOM Could Increase Its Dividend Again

XOM just announced a 21% increase in its dividends. Some analysts suggest XOM could raise the dividend again before the year is over. Mature companies usually raise their dividends, at best, once a year. This would be quite out of the ordinary for a mature company like XOM to raise its dividend twice in one year.

Deutsche Bank opines that Exxon Mobil could further raise its dividend on top its 21 percent increase of earlier this week. The analyst at DB says that “If Exxon Mobil’s CEO [Rex Tillerson] stays true to his word… and keeps the yield competitive, there should be further dividend increases before next year. We believe shareholder pressure will remain high for this.”

Link is here.