Continental's new three forks well info on seeking aphla today
The Charlotte 3-22H was drilled to a total depth of 21,324 feet. The 9,701-foot lateral section was completed with Continental's standard 30-stage fracture stimulation design. The well flowed 953 Boe/d at a relatively low 1,700 psi on a 28/64 choke in its initial one-day test period. As of the day of the announcement, the well has been producing for 15 days and, according to Continental, "its performance compares favorably with other first bench (TF1) and second bench (TF2) producing Three Forks wells." For reference, the Charlotte 2-22H tested at an initial one-day rate of 1,396 Boe/d and is assigned a EUR of 561 MBoe; the well had cumulative production of 87 MBoe in the first 9.8 months, or just under 300 Boe/d average. It is important to note that given the relatively low flowing pressure, Charlotte 3-22H may show a shallower decline profile than high-IP wells often seen in the Bakken's high pressure areas and, despite the seemingly underwhelming IP rate, may still yield a commercially viable EUR (according to the company's statement: "if the Charlotte 3-22H continues to perform in line with the second bench Charlotte 2-22H, it will be the first well to establish commercial production in the third bench.
TF3) of the Three Forks formation with the Charlotte 3-22H well. This flowed 953 boepd at 1700 psi on a 28/64 choke in its initial one-day test period. The well has since been producing for 15 days (as of December 3, 2012), and its performance compares favorably with other first bench (TF1) and second bench (TF2) producing Three Forks wells. The Three Forks has four benches. All are expected to produce. All are below the Bakken layers.
CLR, one of the biggest and earliest developers in the Bakken estimated in 2010 that the Bakken / Three Forks would eventually yield 24B recoverable boe. This estimate included 20B barrels of oil and 4B boe of natural gas. That estimate assumed 577 billion barrels of original oil in place. CLR just raised its estimate of barrels of oil in place to 903 billion barrels. CLR now estimates that there are between 27B and 45B recoverable barrels of oil in the Bakken. This is a 57% increase over the previous estimate; and it may still be a low estimate with continually improving recovery techniques.