Title : Random Data Points For The Bakken -- January 2, 2019
link : Random Data Points For The Bakken -- January 2, 2019
Random Data Points For The Bakken -- January 2, 2019
Disclaimer: this was done quickly. There will be factual and typographical errors. If this information is important to you, go to the source. My data will differ from the official NDIC data for various reasons, but it will be fairly close to what the NDIC is reporting.Number of wells coming off confidential list by quarter:
4Q18
|
228
|
3Q18
|
190
|
2Q18
|
265
|
1Q18
|
242
|
4Q17
|
200
|
3Q17
|
177
|
2Q17
|
177
|
1Q17
|
140
|
4Q16
|
117
|
3Q16
|
99
|
2Q16
|
252
|
1Q16
|
281
|
4Q15
|
297
|
3Q15
|
379
|
2Q15
|
519
|
1Q15
|
675
|
4Q14
|
609
|
3Q14
|
522
|
This is what the Bakken looks like to me right now (end of 2018), some data points:
- about 250 wells come off the confidential list each quarter (2018) -- compare to 600 back in 2014
- about 2,000 permits each calendar year (I'll check that later)
- about 1,000 wells completed each year (2018)
- about 2,000 non-producing wells sit idle (wells that have been drilled to depth; 1,000 not fracked; 1,000 producers but have come off line for operational reasons)
- about three wells come off the confidential list each day: two DUCs; one completed
- companies taking advantage of 2-year confidential period/completion deadline
- standard well, unchanged: two miles down; two miles horizontal lateral
- targets of choice: middle Bakken and Three Forks first bench (ratio: 5:1)
- EUR, tier 1: 1.5 million bbls crude oil; about 85% crude oil; 15% natural gas
- production, first year: 100K and trending toward 250K bbls crude oil in tier 1
- fracking standard: 50 stages; 8 - 10 million lbs sand; most operators not using ceramic
- TF1 requires slightly less sand than MB
- drilling unit, standard: 1280 acres
- talk of longer horizontals, but I don't see that happening (some exceptions)
- larger drilling units are being seen but only to "mop up" up "stranded/orphaned" oil
- an increase in the number of increased density projects seen and some density projects are staggering
- huge dollar investment in NG pipeline and processing plants forecast; I think I saw a $3 billion figure for NG investment in CY 2019 and this is on top of huge investment in prior years
- Legacy Fund deposits around $50 million/month; can be quite variable
Thus Article Random Data Points For The Bakken -- January 2, 2019
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