Thursday, August 30, 2012

IP vs IP30

Many have asked me to compare the IP vs IP30 rates in BOEPD.  Here's a comparison showing the % difference from the boepd of the IP30 to the IP.  The higher % means that the IP30 was higher. The wells are in chronological order.
Encana: 61%, -17%, 1%, -10%
Devon: -61%, 74%, 11%, 42%

No real trend.  Of note is that the IP30 of Devon's last three wells was greater than the IP.

IP (Initial Potential): the initial flow rate of the well; typically 24-72 hours.
IP30 (Initial Potential 1st 30 Days): the operator of the well will have this information but report monthly totals to the regulatory agency; The first full month of production is used for the IP30 unless the operator releases it.  In Mississippi, the amount of days on production are reported.  In Louisiana, they are not, so a full month is assumed.

1 comment:

  1. Lily, you comment isn't showing up online.
    "Kirk, thanks for this info. This is early stages, but do you think declines will be shallower than the Eagle Ford or Bakken once the Tuscaloosa hits development mode? This data makes initial IP's look conservative, regardless of the cause (choke, well clean-up/recompletion or sand-bagging)."
    I DO NOT KNOW HOW THE DECLINES WILL PERFORM. ONLY TIME WILL TELL.

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