Joe D Martin, Can you see this message?
(Sorry everyone else, we are trying to find a glitch)
CLR dribbling out production data on newer springboard wells; pyle look like it is averaging about 1000BOPD for the first 4 months Feb (22 days) 21123.58BO March (31 days) 37,211.54BO April no report May (31 days) 29524BO
https://otcportal.tax.ok.gov/gpx/gp_displayPublicPUNListSearchDownload.php
Sorry about the question from the out of state guy but I in sec.25 so thought someone might have a helping hand here but I guess not haw but that’s ok I’ll figure it out but thanks for you words of wisdom for me what fishen no good today I guess haw
If you are in sec 25 07n06w You could have a dozen wells already drilled… …
Robert:
Please provide us with the Section, Township & Range of the property you are wanting information about.
Todd M. Baker
According to OCC well records the Robinson #4 (22-7N-6W) completed on 10/24/18. First production was 10/26/18. Completion report http://imaging.occeweb.com/OG/Well%20Records/1DD8B193.pdf
No postings yet of completion of Robinson #3 which spud 3 weeks before #4.
I know the court must rule on final percentage allocations— can anyone tell if that has been done yet? When might we expect division orders? Thanks in advance for all help.
The Robinson well in 22-7-6 only 115 bpd and the Birt well in 13-7-6 only hit 12 bpd. The Pyle well in 25-7-6 hit 1,400 bpd. Only a mile or two away. I’d like to ask Jeffrey if there is some geological formation or incline that could cause such big production differences only a couple miles away from each other. Thanks, in advance Jeffrey.
those completion reports are meaningless. i will make the point again that the operator can choose any point in time to determine flow for that report. Watch what they do, not what they say. They have 13 rigs running out there. if they were making suckey wells they would not continue drilling. When the actual production comes out in 3-9 months we will know for sure. They will also probably make mention of the results in the quarterly report in Feb. Also, looking back at some of our production reports, peak flow usually occurs at day 18 -23 after “first production”. In the first 4-5 days the well is being flowed back the oil production is usually very minimal as the frac water must be recovered before the oil can reach the well bore.
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Pyle well is from the Woodford. The others are from the Springer. Different dinosaurs.
Todd M. Baker
. Project SpringBoard Conference Call on Tuesday, January 29, 2019 at 12:00 p.m. ET
The Company plans to host a conference call to discuss recent operational results from Project SpringBoard. The conference call is scheduled for Tuesday, January 29th at 12 p.m. ET (11 a.m. CT). Following prepared remarks, the conference call will be open for Q&A. Those wishing to listen to the conference call may do so via the Company’s website at www.CLR.com or by phone:
IP’s are not the best indicator of ultimate recovery, but there is definitely some correlation. See below: this is a sample of 1,500 horizontal wells in the STACK and SCOOP. Note the difference in BOE and barrels of oil - a lot of good gas/condensate wells register small oil IP’s. Also, note I used first twelve month oil production because the sample gets very small if longer periods are used.
I dont disagree. IP’s are a strong indicator of ultimate total recovery. But there are lots of caveats to that statement. I think for a single well, a 30day IP is very strong indicator. A single day IP is meaningless especially if it is in the first week or two of the wells flowback.
I stand by my statements until proven wrong, as I don’t believe a several thousand foot lateral in the springer “peak oil flow” to be in the 10’s over even very low 100 BOPD.
Yep, IP’s make up 1 out of 100+ features that we use to assess production and it is not weighted very heavily in most cases. 30-day and other indicators are a lot better, as you said. The well could have been fracked into by an offset frack, etc. and there is sometimes some fudging on the IP report. It’s hard to know how it will produce without factoring geologic and operator data. There are a few wells in this area that are bad producers for the first 6-12 months before averaging out. The graph was just to show the different possibilities and I am not saying this is a bad well.
Down below 4.00 dollars today.
There’s a Springboard conference call today. Should be interesting.
http://investors.clr.com/phoenix.zhtml?c=197380&p=irol-EventDetails&EventId=5277475
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Thanks for the heads-up. Not sure we understood all of it, but it was very interesting.
Sounded like Continental sees a great future for Grady county.
According to the CLR spring board presentation Row 1 with 18 wells had a average IP of 1292BOPD “in line with expectations”. It looks like they are extending the average lateral length from 7500’ to 9800’ feet, a 30% increase, but only increased the “type Curve” by 8% to 1300MBOE. While this is certainly good but I think this is somewhat less than they had hope for. That explains the Up-spacing and longer lateral lengths they drilled on us. Per well economics should be fine, but Unit Wide Ultimate total recovery may be a bit less than earlier advertised. Waiting to see how the Woodford and sycamore wells do. Also found it interesting that the well density for the sycamore is 2-4 per unit but is the same average thickness as the woodford where the average well density will be 5-6.
Jake:
I believe, not to be confused with the actual science, that the Sycamore has greater porosity than does the Woodford so fewer wells are needed. Some of the Syc wells have upwards of 14% vs. 8% of woodford.
Todd M. Baker
Great idea, seen some of these publicly traded companies that will only keep the most recent quarters earnings presentation available on their website - goes to show how quickly things can change sometimes, some don’t want everybody to see how wrong they can be sometimes haha!