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Page added on July 13, 2011

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Bakken Production Visualization

Bakken Production Visualization thumbnail

Hello Readers!

Today is quite exciting as we have our first blog post showcasing the power of gDC data and visualization from Visage. We are going to be releasing a series of analysis in conjunction with Visage to display the value of looking at data in different ways than we have typically be used to looking at it in the Western Canadian Sedimentary Basin.

For our initial case study we will be featuring an examination of the Bakken. We will publish three parts and also want to incorporate feedback and requests from readers. So if anything comes to mind please do leave us a comment and request your own visualization! (Click on a graph to see it in full size on your monitor).

Here it goes;

The Growth of the Play

The Bakken has been a hot play in recent years and it’s growth to almost 70,000 bbl/day of oil production (in SE Saskatchewan) is clear evidence of that (see image above).  Almost all of the Bakken growth is attributable to horizontal wells. Here are a few stats taken from the gDC:

Wells

Total number of Bakken wells that have produced in SE Sask = 2178

88% of these wells came on production since Jan 2007

2020 Horizontal Wells

150 Vertical Wells

6 Deviated Wells

2 Crooked Wells

Production

Current Bakken Production is 69,916 bbl/day

19% of that production came on in the first 3 months of 2011 (13,292 bbl/day)

The biggest production growth in one year was 2008, a production rate increase of 41,335 bbl/day by Dec 2008.

If production growth continues at the same rate, we can expect 2011 production increases to exceed 50,000 bbl/day … time will tell.

The Growth of the Players

The growth of the Bakken goes hand in hand with the success story of Crescent Point. Crescent Point has grown consistently in the last 5 years and continues to dominate production in the Bakken.  However, Petrobakken has been running a close second, at times equaling Crescent Point’s production in 2009 and 2010. The next two images show how the players have evolved in the Bakken and a breakdown of the top companies so far in 2011.

How are 2011 Production Rates measuring up?

Early indications show that the average production rates in 2011 are exceeding those from previous years. The following chart tells an interesting story. Horizontal well technology started to blossom in the Bakken in 2007. In 2008 through 2010, production rates maintained a similar type curve profile. The 151 wells that have come on stream in 2011 are showing about 10% higher initial rates than 2010.

Top 10 Producing Wells

The number one request Visage has had from friends and clients is “Show me the top producers”. Well, here they are. The selection of the top producers is based on the 2nd month production rate for horizontal wells that came on production since Jan 2010.

That’s all for now everyone… We still have 2 more releases on the Bakken so keep watching. Have a look at Bertrand’s blog here: VISAGE | Bakken Part 1: The Play and The Players it’ s pretty similar but over time he may be showing a more in depth analysis.

GeoLogic



3 Comments on "Bakken Production Visualization"

  1. James A. Hellams on Wed, 13th Jul 2011 7:38 pm 

    Dear Sirs:

    When the total output of the oil production of the bakken (70,000 barrels per day) is compared to the total US consumption of 20,000,000 million barrels per day, the bakken output makes up only 0.35% of the total US consumption. This is hardly even a drop in the bucket.

    When the 70,000 barrels per day is compared to the total worldwide oil consumption of 86,000,000 barrels per day, the percentage drops to 0.08% of the daily consumption.

  2. Makati1 on Thu, 14th Jul 2011 5:14 am 

    Meanwhile, we screw up the environment…and waste resources and time that should be spent downsizing America…

  3. CXGZ61 on Thu, 14th Jul 2011 11:40 am 

    Nothing except poverty and misery are good enough for some on the left. Good news about energy is seen as depressing. No oil potential is good enough. .35%/day isnt bad for an oil field that contains more reserves than Saudi Arabia. Check back in about 5 yrs and then you can really gnash your teeth!