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Bonanza Creek Energy, Inc. Message Board

g8trgr8t 176 posts  |  Last Activity: Aug 24, 2014 8:39 PM Member since: Feb 9, 2011
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  • Reply to

    Coiled Tube Completions

    by g8trgr8t Jul 17, 2014 12:17 PM
    g8trgr8t g8trgr8t Jul 18, 2014 2:23 PM Flag

    below is from months ago. they were giddy then, even more so now. CC for WLL should be very interesting regardless of KOG. WLL will have longer term data for the early stage coiled tube test wells they did. and they know what they are doing now is better than what they did 6 months back. take every well site and increase it's eur by 40% with the same costs.

    they are going to need bigger pipes.

  • Reply to

    Coiled Tube Completions

    by g8trgr8t Jul 17, 2014 12:17 PM
    g8trgr8t g8trgr8t Jul 18, 2014 11:38 AM Flag

    We're trying one right now at Redtail. They will have actually 80 stages in it.

  • Reply to

    Coiled Tube Completions

    by g8trgr8t Jul 17, 2014 12:17 PM
    g8trgr8t g8trgr8t Jul 18, 2014 11:36 AM Flag

    Looking at Slide 8, at our Skov 3128 unit in Missouri Breaks, we drilled 3 new Bakken wells in order to compare 3 different completion designs. These wells included new coiled tubing unit conveyed completion method that delivered very strong initial results. The original well in the unit, the Skov 31-28-1H was completed using the older sleeve technology on May 31, 2013, and flowed 927 BOEs per day.

    On April 2, 2014, we completed 2 new wells in the unit using our cemented liner with an increased number of entry points. These wells, the Skov 31-28-2H and the Skov 31-28-4H flowed at increased rates of 1,072 BOEs per day and 1,219 BOEs per day, respectively. Then on April 1, 2014, we completed the Skov 31-28-3H, with the new coiled tubing fracture stimulation method. This well flowed at an even higher 1,607 BOEs per day, 73% higher than the initial well in the unit and 40% higher than the 2 cemented liner wells. This new completion design better isolates the perforations to more effectively fracture the reservoir. Costs are comparable, because there are no plugs to drill out.

    Raymond James & Associates, Inc., Research Division
    I want to talk a little bit more about this latest completion design on the coiled tubing conveyed frac. How much -- how many more of these do you have planned to do? And how many would you need to see before you'd be convinced that this is the way to go, instead of the previous technique you'd been using?
    James J. Volker - Chairman, Chief Executive Officer and Director of Whiting Oil & Gas Corporation
    I'll mentioned that to Mark Williams. This was really an experiment, and it's still fairly early. One point, I think, that's important to make, we're really impressed by the results of the cemented -- or the coiled tubing conveyed technique that you see there on Page 8. The other ones still believe are very valid, are plug and perf with 3 and 5 perf clusters per stage. It looks like the 5 are a little bit better. We do think that, because this is early, those 2 wells did not have the benefit of having the frac plugs cleaned out. So we think that those are also probably under-reported on this slide a little bit. It's just very early. Nevertheless, the coiled tubing conveyed is clearly a big step forward for us. And there's a couple of kinks we've got to work out here. Currently, we have to do a combination of both the coiled tubing conveyed in the [indiscernible] well, just over [ph] 2,000 feet of the wellbore are conventional plug and perf with 3 perf clusters per stage. We can't get the coil all the way out in there. So there's a couple of things we still got to -- a couple of bugs we still got work. Ultimately, we think the cost is going to come down a little bit. But I will say, John, that I think this is going to be widely applicable to us. We're trying one right now at Redtail. They will have actually 80 stages in it. This one was 60. And we've already seen good results in Sanish using this. We've done 2 wells at Sanish, and we're going to be trying it in a number of our other Williston properties. So I really can't see any reason why this wouldn't be very widely applicable. It really allows us to get more entry points in all these tight rocks.
    John Freeman - Raymond James & Associates, Inc., Research Division
    And is there -- was there somebody else in the industry that was already doing this and we just hadn't heard about it yet? How did you all run across this technique?
    James J. Volker - Chairman, Chief Executive Officer and Director of Whiting Oil & Gas Corporation
    I think the main thing there is we've been on a hunt to find technologies that can get us more entry points -- more reliable entry points. With the open annualist [ph] technique that we've had before, that just wasn't there. And so we've made incremental changes. Jim Brown was the one, I think, that originally found this. So we've all been working really hard to try and come up with different techniques that will allow us more entry points. And this one really answered that call for us.

  • g8trgr8t g8trgr8t Jul 18, 2014 9:58 AM Flag

    that is what I didn't like about this deal. KOG had been sandbagging proven reserves updates. pv10 should be much higher if part of what was used to get ratio

  • Reply to

    Rockpile and TPLM should benefit

    by winallin12 Jul 18, 2014 8:23 AM
    g8trgr8t g8trgr8t Jul 18, 2014 9:56 AM Flag

    if rockpile can gain access to and learns wll completion techniques it will certainly help tplm on a number of levels.

  • Reply to

    Price discrepancy

    by tarponman61 Jul 17, 2014 11:35 AM
    g8trgr8t g8trgr8t Jul 18, 2014 12:33 AM Flag

    don't trade it till you hear an update on revised completion techniques. good things on the horizon

  • Reply to

    More on CLR vs the "NEW" WLL

    by winallin12 Jul 17, 2014 1:43 PM
    g8trgr8t g8trgr8t Jul 17, 2014 10:42 PM Flag

    seems pretty straightforward. makes you wonder what it would be worth with OAS under the umbrella. 507k net acres with shallow bakken and thick red river would add a little value.If you think WLL is undervalued, what do you think of OAS?

  • Reply to

    Pass the baton to the NEW King

    by winallin12 Jul 17, 2014 2:57 PM
    g8trgr8t g8trgr8t Jul 17, 2014 10:38 PM Flag

    they need to move fast into strippers and midstream infrastructure to help insure demand for their products without unreasonable cost of transport. increased size should also allow them to negotiate large contracts at better hedged rates and hopefully raise their discounts from their suppliers. all good...

  • Reply to

    Coiled Tube Completions

    by g8trgr8t Jul 17, 2014 12:17 PM
    g8trgr8t g8trgr8t Jul 17, 2014 1:30 PM Flag

    still in the 3rd inning of a 9 inning game. trying a mix of plug and perf and slickwater mixture for the tail stages to overcome challenges associated with moving proppant through really long tubes but the completion techniques are due for a big leap forward soon.

    next huge will be Red River.

    then strippers to take liquids off so light sweet can be exported and liquids sent to Canad to help dilute their WCS for shipment.

    then recompletions to go back and fix all those wells that were done with relatively primitive techniques but all the infrastructure is in place. imagine a $2M frac job tuning a 350 eur well into a 650 eur well with no additional infrastructure expense.

    patience will be rewarded. generational wealth will be created. I just wish I was a patient person

  • Reply to

    Price discrepancy

    by tarponman61 Jul 17, 2014 11:35 AM
    g8trgr8t g8trgr8t Jul 17, 2014 12:37 PM Flag

    until the vote is recorded there is always a chance for a second bid but I suspect this is a matter of short covering and somebody taking advantage of the arbitrage opportunity

  • take it fwiw

    reading between some lines it would appear that WLL has been working on controlling the frac to keep the burst more localized around the bore. One possible way to do this may be by shortening the length of each frac stage. this next evolutionary step that may be undergoing testing would involve 60 - 80 stages in a single bore. By keeping the length of the frac down, the bores can be kept closer together to help with the downspacing. All this leads to a greater percent recoverable of total resource. Now we recover 8% +/-. What happens to stock price when we can recover 15%. So much value left to be unlocked.

    Combine the 60 stage frac with the higher volume of proppant per lf of well bore and the per well production may see substantial increase of production while allowing for tighter spacing without communication. technical challenges included frac isolation control and moving larger volumes of proppant to the tail of the well. nothing that cannot be overcome.

  • g8trgr8t by g8trgr8t Jul 16, 2014 5:27 PM Flag

    one year ago today. and some still want to complain......

  • Reply to

    a bit overbought!

    by thomasvank2000 Jul 14, 2014 12:25 PM
    g8trgr8t g8trgr8t Jul 16, 2014 4:32 PM Flag

    how many share are you short? when is your call date?? sorry...not really.

  • g8trgr8t g8trgr8t Jul 16, 2014 3:44 PM Flag

    probably already ahs the ratio worked out with WLL, just waiting on moving averages to get where he wants them on both sides. No fundamental reason for OAS to be under $65 today but the lower OAS average and the higher WLL average is the better it is for Paulson and Vanguard

  • Reply to

    continental vs new Whiting market caps

    by winallin12 Jul 15, 2014 9:17 AM
    g8trgr8t g8trgr8t Jul 16, 2014 3:40 PM Flag

    and Paulson and Vanguard Fund are the two largest shareholders in OAS too.

    Bundle it, finish cracking the code and prove up the Red River, build the strippers to take off the liquids (refinement!!), get the export license, sell the whole 24 - 30 months with an easy double.

  • Reply to

    News release re. offering.....

    by nypd2726 Jul 15, 2014 4:18 PM
    g8trgr8t g8trgr8t Jul 15, 2014 5:07 PM Flag

    but the upsize due to demand is new news and should be read as a leading indicator of even lower rates in the future

  • Reply to

    WLL _ Paulson's Personal Energy Company

    by g8trgr8t Jul 15, 2014 2:12 PM
    g8trgr8t g8trgr8t Jul 15, 2014 3:24 PM Flag

    and Vanguard owns 3.5 to 4.5 of WLL/KOG/OAS too

  • Reply to

    Anybody wonder who's behind this?

    by symon_says_ Jul 15, 2014 1:58 PM
    g8trgr8t g8trgr8t Jul 15, 2014 3:02 PM Flag

    Vanguard also controls 3.5 to 4% in WLL, KOG, and OAS. Paulson starts with 15% control if Vanguard is his messenger boy.

  • Reply to

    "WLL May Not Be Done Eating..."

    by gpg39 Jul 14, 2014 11:50 PM
    g8trgr8t g8trgr8t Jul 15, 2014 2:49 PM Flag

    Paulson owns 9.9% of OAS. He isn't done. Doubt TPLM is on the menu unless Montana gets proven up. WLL may make a play for Rockpile and Caliber though to combine with what WLL/OAS/KOG have in place wrt service and midstream facilities.

  • Reply to

    Paulson consolidates

    by benetlake1945 Jul 14, 2014 4:21 PM
    g8trgr8t g8trgr8t Jul 15, 2014 2:45 PM Flag

    9.9% of OAS as of March 2014. How long till they are folded in?

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