Samson Oil acquired 51,305 net acres of oil and gas leases in the Foreman Butte field 100% Working Interest in 41 producing wells. Oasis operated 12 of the wells continually through the transaction period the remaining were managed with most of the remaining being shut-in with the anticipated average is 720 BOD. The Matthews 1-13H well needs a work-over rig to put a sleeve in at the Radcliff formation and that rework would bring back the 850 BO per month well. The Gehrig 1-24H was reworked by Oasis and is back to 850 BO in March. Samson Oil needs to start these wells back to life to get to the 720 BOD out of this field.
Better news is that the Earl well has produced 308,597 BO with MCF Gas: 485,623 in Stockyard Creek and is still running strong.
Even better news David Ninke is back from his fishing trip in British Columbia and is working the newly acquired wells in the Foreman Butte field.
More like SSN had a wedge to the for an EAGLE attempt and they shot and ball is still caught up in the wind and hasn't landed on the green yet. No Filing of detail on SSN site, SEC, or North Dakota state site. there are a dozen wells with production that was stopped a year ago. So there is promise, but waiting on specifics before scoring the hole.
SSN doesn't even sound convincing but they received confirmation from its primary lender of its willingness to expand Samson’s borrowing baseup to $30.5 million to enable the acquisition of the targeted producing properties in the Williston Basin. This expansion is conditional upon closing the acquisition and subject to acceptable final
documentation. Samson currently expects to close the transaction before the end of the current quarter.
That ends Thursday this week.
Still making $12.80 per BOE and can sustain with current interest and lien notes thru 2018.
Average daily production—Boe (1) 41,542
Average price per unit (2) :
Crude oil price—Bbl $ 42.63
Natural gas price—Mcf $2.22
Natural gas liquids price—Bbl $9.35
Total per Boe (1) $36.17
Average cost per Boe:
Lease operating $6.83
Workover and other $1.38
Taxes other than income $3.22
Gathering and other $2.66
General and administrative:
General and administrative $4.83
Share-based compensation $0.96
Year 2019-2020 will be tough will need $60/bbl or refinance
Notes due in 2019-2020 in thousands
Senior revolving credit facility 62,000
8.625% senior second lien 2020 (1) 700,000
9.75% senior notes due 2020 (6) 340,035
8.0% convertible note due 2020 (7) 289,669
Interest expense on long-term debt (8) 508,573
Operating leases 15,858
obligations in 2019 1,916,135
The Patterson rig just moved onto the 8th well to complete the lateral of Fort Berthold well FB 152-93-7C-6-10H.
The other seven wells have both the Vertical and Horizontal portion of the well drilled already. After the last well has the Horizontal portion drilled Halcon will schedule the fracture stimulation for all eight wells. Production is expected from the Vermejo Pad starting in the beginning of May 2016. each of the 8 wells run from the South to the North under the Missouri River by approximately 25%; making them a higher working interest percentage well. These border the Antelope field but are in the Four Bears field . Good production numbers on the way.
File #30241 well:FB 152-93-7C-6-13H
File #30242 well:FB 152-93-7C-6-12H
File #30243 well:FB 152-93-7C-6-11H
File #30244 well:FB 152-93-7C-6-10H
File #30245 well:FB 152-93-7C-6-9H
File #30246 well:FB 152-93-7C-6-8H
File #30247 well:FB 152-93-7C-6-7H
File #30248 well:FB 152-93-7C-6-6H
8 wells 10,623 foot laterals in 179 -180 feet of oil play in the middle Bakken
PATTERSON rig 268 HRC OPERATING, LLC moved rig to the 5th of 8 wells today
Estimated about 80 days from completion - 4 laterals * 8 days + 8 FRACS * 5 days + 8 day slack
HRC operating is back in the Antelope field
Big numbers in the near future
DATE: FEBRUARY 2, 2016 DAILY REPORT: 16987
ADDITIONAL INFORMATION: WELLS RELEASED FROM “TIGHT HOLE” STATUS:
#28296 - HRC OPERATING, LLC, FORT BERTHOLD 152-93-19D-18-10H, SESE 19-152N-93W, MCKENZIE CO., 2268 BOPD, 1350 BWPD – BAKKEN
Oil: 110,897 MCF Gas: 139,780 in 122 days of production
Production Test Data
IP Test Date: 8/6/2015 Pool: BAKKEN IP Oil: 2268 IP MCF: CONFIDENTIAL WELL PLUGGED OR PRODUCING:
#26906 - HRC OPERATING, LLC, FORT BERTHOLD 152-93-19D-18-7H, SESW 19-152N-93W, MCKENZIE #26907 - HRC OPERATING, LLC, FORT BERTHOLD 152-93-19D-18-6H, SESW 19-152N-93W, MCKENZIE #30783 - HRC OPERATING, LLC, FORT BERTHOLD 152-93-19D-18-12H, SWSE 19-152N-93W, MCKENZIE #30784 - HRC OPERATING, LLC, FORT BERTHOLD 152-93-19D-18-8H, SWSE 19-152N-93W, MCKENZIE #30785 - HRC OPERATING, LLC, FORT BERTHOLD 152-93-19D-18-9H, SWSE 19-152N-93W, MCKENZIE