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Approximate Aerial Extent Of Bakken Productivity, from Continental Res.
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Approximate Aerial Extent Of Bakken Productivity, from Continental Res.
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10 comments:
I notice the one well producing 200 barrels a day , used 4 1/2 inch casing where as the others that are producing a lot more used 7 inch casing. still those are really small compared to eog's. is eog using larger casing or are they using a different fracturing system ???
The 7" casing is standard size casing, but normally isn't actually used for production. Since the Bakken has sweet gas,rather than sour gas like most of the other formations (which corrodes the casing that by the way is cemented in the hole), it doesn't hurt to produce the Bakken through the casing. Normally, wells are cased with 7" casing and then 2 7/8 tubing is run, through which the fluids actually travel to the surface. You have to run tubing eventually because that is what the pumping assembly attaches to. Tubing is what you see racked in the derricks of workover rigs (besides the rods if it has a pumping unit). Some companies are flowing the Bakken wells through the casing before running tubing, and their reasons I'm sure vary for doing that. I'm not sure why that one well has 4.5" casing, but I doubt is has that much of a choke on the production rate.
Some will say the production rates are different because of completion techniques. I say that may be a factor, but the biggest factor very likely pertains to less favorable formation quality (fewer natural fractures or lower porosity). Nobody knows how big the sweet spot is in Parshall field proper, but it will likely be determined with all the drilling this year. There is bound to be a fair share of duds.
With EOG so active in the Parshall field, it looks like alot of their wells would be coming off confidential status, but I haven't heard about any of late. Any recent filings?
Ditto for Whiting. Thanks.
There should be some specific data on new EOG Bakken wells in their Feb 8th conference call, streamed live over the Internet, and usually this is also a topic of discussion with analysts in the Q&A session
http://www.eogresources.com
With each new well by EOG versus other players in the area, it seems to me to be getting more and more difficult to believe that all the players are equally capable of completing wells to obtain results consistent with what EOG has been getting. First, I suppose lightning could strike once and EOG simply got very lucky in getting the Parshall field leases, but does lightning strike twice in a row? EOG went up into Austin TWP several miles north, and got the same if not superior results on wells completed so far. Meanwhile you have other players, BEXP, Hunt etc, drilling wells with laterals very close to the Parshall field, with results coming in that may be economic but not nearly the EOG numbers.
If the Parshall and Austin fields were indeed such hot drilling prospects, why did the other players who claim to be equally smart not see the possibilities years ago? Part of being smart in this game involves figuring that out. My hunch is that most of the other players would still be drilling vertical holes on 40 acre spacings with very marginal results if at all had EOG not shown up on the scene.
Keep in miond that while EOG had little experience in drilling crude oil wells using laterals until they got involved in the Bakken leases in ND and MT, they certainly knew a lot about the technology from a large number of gas wells they had drilled in the Texas Barnett field. That the other companies drilling wells in the Bakken without that experience drilling laterals in a gas field are suddenly going to be able to replicare EOG results even tho they lack the experience EOG has had drilling lateral wells seems nonsensical to me. What might convince me otherwise is if some other player or players not connected to EOG are able to drill several lateral wells anywhere in the area that come in with production numbers similar to the EOG results. Meanwhile it will be interesting to see if EOG can keep up consistent results as they move to the fringes of their Parshall field leases to the south and increase the width of the Parshall field from 6 to 9 miles at its broadest point. These new wells are already permitted for drilling during 2008, or will be in the next few weeks.
In the not too distant future we will know if EOG has more talent in drilling and completing Bakken wells.
EOG currently has 7 rigs drilling so as they move away from the Parshall sweet spot, they will be going head to head with the drillers who have been putting down holes on the fringes of the Parshall sweet spot.
Am I wrong in that EOG is drilling horizontally through the dolomite section and most of the other players are continuing to drill through the sand/silt?
Most of the EOG acreage is very sand poor, especially Austin.
The Bakken oil drillers must be doing something right. The latest chart from the NDIC shows monthly oil production in Mountrail County now exceeds 300,000 barrels per month.
The chart looks like a rocket launch. Here is the url.
https://www.dmr.nd.gov/oilgas/stats/Mountrail.pdf
Tonight (January 18, 2008) ABC 20/20 will be doing a piece on the bakken oil rush for those interested. The preview I saw was about the farmers with no mineral rights and the small $$$ in compensation they are receiving. Also anyone looking for a good book to read in regards to oil I recomend "Twilight in the Desert" by Matthew R. Simmons, subtitled "The coming Saudi oil shock and the world economy".
For those wanting well info,if you know of wells that are off tighthole status (spudded before mid June), let me know which ones. I don't normally keep track of them on the list.
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