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Title : WLL: Let's Look At The Slides -- May 1, 2018
link : WLL: Let's Look At The Slides -- May 1, 2018

WLL: Let's Look At The Slides -- May 1, 2018

WLL: holy mackeral -- with EPS of 92 cents by 67 cents.

Let's look at the slides, for 1Q18 (compare history of WLL at this post):

• average production: 127,000 boe -- above midpoint of guidance
• adjusted earnings of 92 cents/share
• • net cash exceeded CAPEX by $46 million
  • discretionary flow exceeded CAPEX by $103 million
  • DD&A per boe "significantly" below low end of guidance
• Williston Basin to grow 14% from 4Q17 to 4Q18
• to drill 120 wells in the Williston Basin
• Williston Basin 
• • CAPEX: $600 million
  • net acres
  • • tier 1: 239,606 acres; 1,122 net wells
    • tier 2: 169,987 acres; 1,680 net wells
    • grand total: 409,593 net acres
  • 4 rig program; 5th rig end of April
  • 2 - 4 completion crews
  • targeting 1 million boe EUR wells
  • well costs: $6.5 to $7.1 million 
• locations
• • Hidden Bench enhanced completions outperforming a million boe type curve
  • Polar enhanced completions outperforming a million boe type curve
  • Sanish enhanced completions outperforming a million boe type curve
• optimized completions
• • 600 - 1,200 lbs/ft proppant
  • 200' - 300' stage spacing
  • 15 - 40 bbl/ft fluid
  • 30'- 50' cluster spacing
  • all cemented liner plug & perf (PnP)
• strategy
• • large geometry completions for infill wells in DSUs with high remaining recoveveable oil in place ("halo effect")
  • near-wellbore completions for DSUs wiht high parent well count ("halo effect")
• optimum completions
• • less than 3 million lbs: underperformers
  • better production going to 7.5 million lbs
  • > 15 million lbs: no apparent improvement

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