Thursday, November 7, 2019

Significant Events

Two significant events have come to light this week. First, Equinor has acquired a 25% working interest position in Marathon's project.  Equinor has acreage near the Texas state line. This joint venture provides some more financial strength to Marathon's efforts.  In today's market, joint ventures make a lot of sense.

The disappointing news of the week is that Prime Rock's Crosby 10-1 well is stuck as of the early week's report on SONRIS.
11/6/19: DRLD 12-1/4" HOLE TO 14901; STUCK; BACKED OFF @ 14755' & WORKED STUCK PIPE; UNSUCCESSFULLY.

This ties into my discussion from yesterday and my post on the regions of the play.  The deeper, more pressured region of the play, will have drilling challenges.  Those challenges can be very costly as we saw in Marathon's Crowell #1.

The map below is from my SIPES presentation from a couple of weeks ago. It compares a variety of attributes from the four "quadrants" of the play: LA-EAST Updip, LA-EAST Downdip, LA-WEST Updip, LA-WEST Downdip.


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