Thursday, December 11, 2014

New Wells Results - Calibration With Geologic Attributes

Two new well results were announced yesterday:
-Goodrich Verberne 5H-1: 1375 boepd
-Sanchez St. Davis #1: 1143 boepd

The chart below incorporates these two new results.  The two wells plot in the "best performers" range as expected based on their geologic attributes.

This display compares the initial potential (boepd) on a 1000' basis (y-axis) compared to the thickness of Passey DlogR>0.9 (x-axis).  The third variable, mean sonic, is presented as the size of the circle for each well.  The wells are filtered by additional variables including lateral length and proppant per stage.  At 54 completions, the "formula for success" is currently: 
-Lateral length > 4400'
-Passey pay > 100'
-Mean Sonic > 82.5 (higher sonic appears to align with the presence of natural fractures and possibly higher porosity)
-Proppant per stage: 400,000-650,000 lbs (Encana Sabine 12H wells recently used ~800,000 lbs; the production decline profile will be one to watch in the coming months)
-Landing zone: lower TMS (recent Sanchez St. Davis landed high; the production decline profile will be one to watch in the coming months)

Note that the last 10-12 wells that meet these criteria have had excellent results.  
Repeatability has been confirmed.

1 comment:

  1. Hello Kirk, Do you see all of these companies leaving the play with prices at $50 to $60 per barrel. It seems a shame when all of them seem to be getting consistently good results. Among the companies in the play, which ones have the resources (capital) and know-how to make it work at these prices? Enjoy your day.