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A Bakken on the North Slope?

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Re: A Bakken on the North Slope?

Unread postby TheDude » Mon 06 Dec 2010, 23:15:44

A company with millions in cap and they don't have a website? Interesting idea, they can reuse old drilling pads and other infrastructure so that's a plus. But it's still a hellacious expensive environment to work in.

I checked out some of the seismic logs for NPR-A on a pdf I downloaded a long time ago - not all of those wells penetrated these formations in the first place, which makes sense since why drill into lower bearing source rock? This would add the expense of lengthening them if somebody wanted to test out the formation in the first place. Would be interesting to know how many wells had uneconomical shows. Meanwhile COP and company are fleeing the NPR-A in droves: Newest trend in NPR-A: 'We're outta here.' | TradingMarkets.com
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Re: A Bakken on the North Slope?

Unread postby Xenophobe » Mon 06 Dec 2010, 23:26:57

TheDude wrote:A company with millions in cap and they don't have a website? Interesting idea, they can reuse old drilling pads and other infrastructure so that's a plus. But it's still a hellacious expensive environment to work in.


You have no idea. Well, maybe you do, but I just found out recently, and was quite surprised.

There are other problems as well, one related to how these types of projects are funded. A time honored tradition in the oil industry is this thing called "promoting" someone into a well. Or project. You tell stories, you sing a song, you dance a jig, barbers and dentists, enthralled with your wild movements and enthusiasm, shower you with cash in the hopes of being in on the beginning of the next Standard Oil.

They still do this type of stuff today. Only time will tell because, upon occasion, things do work out. Not the creation of the next Standard Oil mind you, but successful projects and wells.
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Tue 07 Dec 2010, 02:08:20

TheDude wrote:A company with millions in cap and they don't have a website?

According to the articles, they just formed the company earlier this year, and they just raised their money a few months ago. Plus it's a private company. No doubt they'll eventually have a website, but right now they're in their infancy.

It also seems logical that a small company like this would partner with a bigger firm(s) to do most of the actual drilling work. Companies whose main modus operandi is to snap up land leases and then sell majority stakes to bigger companies who do the actual work are very common in the Bakken, so I wouldn't be surprised if this outfit is another one like that.

As for the well data, one of the articles said they'll be drilling a couple wells over the next several months, so I guess we'll find out more soon.
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby Vogelzang » Mon 07 Feb 2011, 19:07:11

Great news. Drill, Baby, drill! More.... more.....
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Sat 05 Mar 2011, 23:57:54

I have no idea if these guys are all talk and no money, or not, but they sure do have lots of ambition!

They also have quite a long-term plan, to put it mildly!

Great Bear raises eyebrows
• Great Bear’s current plan on its acreage calls for three 15-year phases. In each 15-year period 3,000 wells will be drilled from the same one-acre pads, at an average of 200 wells per year, requiring at least 20 drilling rigs working year-round. The cost for just the drilling, excluding pipelines, facilities, roads, etc. is $2 billion a year at approximately $10 million per well.

• If production begins in 2013 as planned, in a conservatively scaled project, Great Bear shows oil production from its acreage (see slide on page 10) alone at 200,000 barrels per day by 2020; 350,000 bpd by 2035; 450,000 bpd by 2041; peaking at 600,000 bpd in 2056, with a sustained long-term production of 450,000 barrels per day out as far as 2074.

• This kind of production, Duncan said, especially if other shale developers grab up the hundreds of thousands of acres left in these plays on the North Slope, might eventually necessitate a new pipeline to replace TAPS, or a sister line.
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Sun 06 Mar 2011, 00:41:30

They've finally got a website, too!
http://www.greatbearpetro.com/

Map of their acreage:
Image

With something like this, who needs ANWR! :o
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http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby rockdoc123 » Sun 06 Mar 2011, 12:13:11

I am very familiar with the field in question....actually know the old wells. There is oil here but the rocks are extremely tight and hence will require fracing. That of course is not new technology but the challenges in this environment mean that getting to something that is economically extractable is going to be an extremely long haul. First of all this is in the NPRA and you can be darned sure that the Feds aren't going to allow willy nilly intense surface development which tight fields tend to require. Access to the area is restricted to a very, very short season from about January through late March as travel is only permitted on ice roads. Drilling costs are very, very high (well north of $50 MM per) and when you add on to that expensive frac completions then the challenge to reach economic limit becomes apparent. High cost of extraction plus limited access is likely to keep this oil in the ground for sometime even though it is almost certainly technically more extractable than much of the hydrocarbons being produced elsewhere.
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Re: A Bakken on the North Slope?

Unread postby Quinny » Sun 06 Mar 2011, 12:20:02

mmmm.....

Even the cornies don't seem to think much of this.

but then again EROEI doesn't matter does it? :wink:
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Re: A Bakken on the North Slope?

Unread postby rockdoc123 » Sun 06 Mar 2011, 13:42:23

but then again EROEI doesn't matter does it?


as far as this resource becoming economic no it doesn't. What does matter is economics and the two are not the same.
Oil companies are not interested in EROEI....not in the least, they are however interested in economics and it is that which determines whether, when and where contingent resources (which is what these are ) become reserves.
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Sun 06 Mar 2011, 18:05:32

rockdoc123 wrote:First of all this is in the NPRA and you can be darned sure that the Feds aren't going to allow willy nilly intense surface development which tight fields tend to require.

Apparently this is state of Alaska land, not federal land. From the article in the first post:
A newly formed Texas-based independent that recently acquired 537,000 acres of state of Alaska leases on the North Slope has plans to drill into source rocks below the region's prolific producing fields and produce oil by fracturing, a company official said Nov. 24.
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Sun 06 Mar 2011, 19:33:56

BTW, the link in the first article in the first post has expired. You can find the same article here.
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby Plantagenet » Sun 06 Mar 2011, 20:12:28

OilFinder2 wrote:
rockdoc123 wrote:First of all this is in the NPRA and you can be darned sure that the Feds aren't going to allow willy nilly intense surface development which tight fields tend to require.

Apparently this is state of Alaska land, not federal land. .
[/quote]

the state of Alaska is so anxious for more oil production they might fund the wells too.......
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Wed 09 Mar 2011, 21:02:16

In today's news, Gear Bear just raised another $18 million to fund various items related to their newly acquired leases. Someone is definitely willing to invest in them.

On the front page of the latest issue of Petroleum News they had this chart showing the planned production profile for this project in relation to the rest of Alaskan production.

More production - without new discoveries! 8O :shock:

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Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby rockdoc123 » Wed 09 Mar 2011, 23:01:54

the state of Alaska is so anxious for more oil production they might fund the wells too..


not sure they can but I do need to point out the NPRA is managed by the BLM (federal) although income is shared with the state. Companies have to deal with both federal and state regulators.

As to raising $18 MM that is good news but I have to mention that to simply go in with a proper rig, re-enter one of these formerly drilled wells and complete it with a simple acid wash will cost about $40 MM due to mob/demob, ice road construction etc.

Not saying this won't happen someday but I can't see this as being economic anytime soon.
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Wed 09 Mar 2011, 23:55:33

rockdoc123 wrote:not sure they can but I do need to point out the NPRA is managed by the BLM (federal) although income is shared with the state. Companies have to deal with both federal and state regulators.

This company's land isn't in the NPRA.
As to raising $18 MM that is good news but I have to mention that to simply go in with a proper rig, re-enter one of these formerly drilled wells and complete it with a simple acid wash will cost about $40 MM due to mob/demob, ice road construction etc.

As the article notes, this $18 million isn't for drilling purposes.
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Thu 10 Mar 2011, 00:01:22

But speaking of the NPRA, yesterday I found this map showing where the oil and gas windows of the Shublik Formation are located. Looks like a large chunk of the NPRA is underlain by the oil window of this formation.

The pic is slightly too big to show on the forum so click on the link:

>>> MAP <<<
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Tue 08 Nov 2011, 21:14:52

I'm beginning to think this thing has a chance of actually happening! 8O

LINK
Halliburton, Great Bear team up in shale play on North Slope
HIGHWAY: Work over the next year will test project's concepts.

By KAY CASHMAN
Petroleum News
Published: November 6th, 2011 09:41 PM

Skeptics beware. If you thought Great Bear Petroleum's plan to drill 200 wells a year in its North Slope shale acreage was unrealistic, the world's second largest oil field service company thinks you're wrong.

Halliburton, an expert in extracting oil and gas from source rock in major resource plays outside Alaska, has partnered with Great Bear. In the next year Halliburton will conduct a parallel "proof of concept" multiwell program on Great Bear's acreage along the Dalton Highway -- at the same time Great Bear is executing a similar program to the south, along the highway. In the next year, each company plans to drill as many as three vertical wells and a lateral off each of those.

"We are partnering with Halliburton on an area-limited basis where they are bringing in world-class technology," Great Bear President and COO Ed Duncan told a special meeting of the Alaska Legislature's House Resources Committee on Nov. 1.

[...]
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http://peakoil.com/forums/post1193930.html#p1193930
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Re: A Bakken on the North Slope?

Unread postby Plantagenet » Tue 08 Nov 2011, 21:22:59

We had a scientific talk on this play here at the University of Alaska. The geology and thermal window looks good----but the road access to these areas is currently very limited so only an extremely small area can be accessed. Much of this area is federal land, where protection of wildlife is a priority...unlike Prudhoe Bay where the state of Alaska controlled much of the surface acreage.

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Re: A Bakken on the North Slope?

Unread postby Bruce_S » Tue 08 Nov 2011, 21:34:23

Plantagenet wrote:We had a scientific talk on this play here at the University of Alaska.


You wouldn't happen to be referring to the one at Glenn Olds Hall, on October 25th would you?
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Re: A Bakken on the North Slope?

Unread postby copious.abundance » Wed 26 Sep 2012, 22:51:44

Finally a bit of news. The first well has been drilled, and though Great Bear hasn't provided details yet, they're encouraged.

Great Bear wants to speed up shale program
The results so far from a shale oil test well drilled by Great Bear Petroleum on Alaska's North Slope have met expectations for finding oil in source rocks, Ed Duncan, the company's president and CEO, told the Alaska Oil and Gas Congress last week.

"I can tell you with absolute confidence that where we thought we would find oil in these source rocks, we found oil," Duncan said. "To date, at least, the outcome has been very, very, very good," Duncan said.

Given the test results from its Alcor No. 1 well, Duncan said his permitting team is now working with the state on a change in plan, to potentially proceed with long-term production testing of the wells, in hopes of accelerating the company's shale oil development program.

There is still much work to do, "but we're working hard to bring the decision forward, for ourselves and for the state of Alaska, for regional development by as much as a year," Duncan said
.
That would move a decision on whether to proceed with a full-scale shale oil development from 2014 to the middle of 2013.
Great Bear is drilling its second test well, the Merak No. 1, next to the North Slope Haul Road.

[...]
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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