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Linn Energy, LLC (LINE) Message Board

  • sandonthebeach47 sandonthebeach47 Feb 26, 2013 12:02 AM Flag

    So, how much production is there in a record breaking onshore oil & gas well in the USA?

    Lets look at some:
    Linn claims Granite Wash record

    22 July 2010
    US independent Linn Energy said its Black 50-1H horizontal well in the Stiles Ranch area of the Granite Wash play in the Texas Panhandle came on at an initial 24-hour rate of the equivalent of 60.2 million cubic feet per day at 2150 psi of flowing surface pressure.

    Production was split between 27 MMcfpd of natural gas and 3190 barrels of condensate
    The gas has a heating value of 1316 British thermal units per cubic foot, and Linn expects to reap about 3530 barrels of liquids when the gas is processed, which led to the estimate of 60.2 MMcfpd, the company said.
    "We believe this is the highest rate well reported in the Granite Wash trend,” Linn boss Mark Ellis said in a release.
    “The liquids content of over 6700 bpd represents more than 65% of the production stream and we anticipate pay-out on this well in as little as two months,” he said
    “The well is located in an area where LINN has a large concentrated acreage position. As a result, there are numerous follow-up drilling opportunities."

    And,
    .....isn't Whiting also one of the operators for Linn in the Williston basin for Linn's non-operated wells?

    Bakken Shale Record Oil Well - McKenzie County, North Dakota.

    November 7, 2011 - Whiting Petroleum (WLL) recently announced a new Bakken Shale record on a recent well that they've drilled. This Bakken Shale gusher was drilled in McKenzie County, North Dakota.

    New Discovery at Tarpon Prospect Flows at Williston Basin Bakken Record Initial Rate of 7,009 BOE/D (4,815 BO/D and 13,163 MCF/D) on Full 24-Hour Test.

    Tarpon Prospect. "Whiting has set a new initial production record for all Bakken wells drilled in the Williston Basin. The Tarpon Federal 21-4H well was completed in the Middle Bakken (after a 30 stage sliding sleeve frac job) flowing 4,815 barrels of oil and 13,163 Mcf of gas (7,009 BOE) per day on October 17, 2011. The Company owns a 56% working interest and a 45% net revenue interest in the Tarpon well. Whiting drilling engineers also set a new Tarpon Prospect area record by drilling this well to total depth in 13.3 days. We expect the completed well cost to be $6.35 million. Whiting holds 8,125 gross (6,265 net) acres at the Tarpon prospect, which is located in McKenzie County, North Dakota. Whiting has controlling interests in four 1,280-acre Tarpon prospect spacing units. We have the potential to drill a total of 12 Middle Bakken and eight Three Forks wells in these units. Based on our drilling to date, we believe 100% of the prospect is now drillable for the Middle Bakken and de-risked. Please see the Tarpon map in our corporate presentation."

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    • The Director's Cut from ND is below.....and it looks like Whiting was the top producer in December in North Dakota.....

      Whiting might be one that Linn should consider buying....Hmmmm?

      2/15/2013
      Page 1 of 3
      Director’s Cut
      Lynn Helms
      NDIC Department of Mineral Resources
      Nov Oil 22,051,858 barrels = 735,062 barrels/day
      Dec Oil 23,834,431 barrels = 768,853 barrels/day (preliminary)(NEW all-time high)
      Nov Gas 23,519,924 MCF = 783,997 MCF/day
      Dec Gas 24,976,855 MCF = 805,705 MCF/day (preliminary)(NEW all-time high)
      Nov Producing Wells = 8,101
      Dec Producing Wells = 8,224 (preliminary)(NEW all-time high)
      Nov Permitting: 211 drilling and 0 seismic
      Dec Permitting: 154 drilling and 1 seismic
      Jan Permitting: 218 drilling and 0 seismic (all time high was 370 in Oct 2012)
      Nov Sweet Crude Price = $80.86/barrel
      Dec Sweet Crude Price = $77.09/barrel
      Jan Sweet Crude Price = $87.89/barrel
      Today Sweet Crude Price = $88.75/barrel (all-time high was $136.29 July 3, 2008)
      Nov rig count 186
      Dec rig count 184
      Jan rig count 185
      Today’s rig count is 182 (all-time high was 218 on May 29, 2012)
      Comments:
      December drilling continued to decline slightly and well completions were slightly lower than the previous 12 month average, but better weather and completion of 123 new wells brought production back on track. Oil production rate surged to a new record up 4.6% from November. Operators were continuing to transition to higher efficiency rigs and implementing cost cutting measures at the end of their 2012 capital budgets. They are still cautious about the uncertainty surrounding future federal policies on taxation and hydraulic fracturing. Over 95% of drilling still targets the Bakken and Three Forks formations.
      We estimate that at year end there were about 413 wells waiting on completion services. We can now estimate from well completion rates and production responses in November and December that it takes about 90 new wells per month to maintain production.
      2/15/2013
      Page 2 of 3
      Crude oil take away capacity continues to be adequate to keep up with projected production. A majority of North Dakota’s oil is now shipped by rail to east coast, gulf coast, and west coast destinations.
      Rig count in the Williston basin is stable. Utilization rate for rigs capable of +20,000 feet is steady at about 80-85% and for shallow well rigs (drill to 7,000 feet or less) utilization remains about 60%.
      Drilling permit activity was up significantly in January. We continue to have a sufficient permit inventory to accommodate more multi-well pads, the desire to use already built locations during winter, and the time required to publish hydraulic fracturing rules if required.
      The number of rigs actively drilling on federal surface in the Dakota Prairie Grasslands is up to 1.
      The number of rigs drilling on the Fort Berthold Reservation is unchanged at 28 with 5 on fee lands and 23 on trust lands.
      There are now 805 active wells (96 on trust lands & 709 on fee lands)
      Producing 140,869 barrels of oil per day (6,652 from trust lands & 134,217 from fee lands)
      121 wells are waiting on completion
      294 approved drilling permits (242 on trust lands & 52 on fee lands)
      1,467 additional potential future wells (1,426 on trust lands & 41 on fee lands)
      Seismic activity is steady with 3 surveys active/recording, 1 remediating, 1 suspended, and 7 permitted. There are now 3 buried arrays in North Dakota used to monitor and optimize hydraulic fracturing.
      North Dakota leasing activity is very slow, mostly renewals and top leases in the Bakken - Three Forks area.
      Construction of processing plants and gathering systems will be severely affected by weather until after spring thaw. US natural gas storage is up to 16% above the five-year average. This indicates continuing low prices for the foreseeable future. North Dakota shallow gas exploration is not economic at near term gas prices.
      Natural gas delivered to Northern Border at Watford City is down to $2.83/MCF. This results in a current oil to gas price ratio of 31 to 1, but the high liquids content makes gathering and processing of Bakken gas economic. Additions to gathering and processing capacity are helping with the percentage of gas flared holding at 29%. The historical high was 36% in September 2011.
      Draft BLM regulations for hydraulic fracturing on federal lands were published in the Federal Register. The comment period closed at 5pm EDT on September 10, 2012.
      2/15/2013
      Page 3 of 3
      BLM received over 170,000 comments and has withdrawn the rule. A new proposed rule is expected second quarter 2013.
      Draft EPA Guidance for permitting hydraulic fracturing using diesel fuel has been published. The comment period closed at 5pm EDT on August 23, 2012. EPA received over 97,000 comments and has set a target of spring 2013 for final guidance document publication.
      Pressure on the federal budget has led to a significant amount of rhetoric from the administration regarding tax treatment of intangible drilling costs and the depletion allowance.

    • Before the Whiting well described in this thread, Brigham has the record Bakken well in North Dakota. If you notice the IP rate is pretty close to the results that Linn mentioned they got in the Mayfair area Hogshooter well :

      They also announced a North Dakota Bakken record of 5,330 barrels of oil equivalent during its early 24-hour peak flow back period at their Sorenson well. The Soreneson is located in Montrail County, North Dakota.

      Brigham has the four highest initial rate Bakken wells and seven of the top 10 initial rate Bakken wells in the Williston Basin.

      • 1 Reply to sandonthebeach47
      • One added important piece of info that I forgot to mention.....since we were discussing record breaking wells and who produced them.

        Linn has a growing production in the Bakken/Three forks in ND. They are a non-operator for those wells and last year participated in about a hundred wells (at 7%)....AND guess who the Linn Operators are for the Linn non-operated Bakken wells.....The record holders......Whiting, brigham......and also Newfield, SM Energy, Oasis & Continental resources....some of THE BEST in the Bakken.

 
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