Range Announces Second Quarter 2017 Financial Results |
FORT WORTH, Texas, Aug. 01, 2017 (GLOBE NEWSWIRE)
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North Louisiana Division Production for the division in the second quarter of 2017 averaged 416 net Mmcfe per day, an increase of 5% from the previous quarter. Late in the second quarter, the division brought on line six wells, consisting of three Upper Red wells and three Lower Red wells. The division continues to focus on Terryville while methodically testing and delineating other areas. Significant progress has been made in lowering the cost to drill and complete a typical 7,500 foot lateral well in Terryville, currently at $7.4 million. As previously discussed, production from the wells brought to sales in early 2017 were below expectations. These included wells that were drilled prior to the acquisition, but not completed. In addition, Range experimented with changes to completion designs and more specifically, fluid intensity, in an attempt to mitigate the impact to offset wells. These wells on average were stimulated with approximately 40% less fluid per foot compared to typical Terryville completions, while utilizing the same proppant per foot. The initial production response in the wells has been below expectations by a similar percentage, with a flatter decline profile, suggesting the wells were under-stimulated. Going forward, Range is planning to return to the larger fluid designs. In the expansion areas, the two wells previously announced (one to the east and one to the west of Vernon field), continue to perform well. Gas in place estimates for the area are 400 Bcf per square mile and plans are underway to offset each of these expansion wells with another horizontal well. The offset wells are expected to spud in the third quarter with results near year-end. In addition, the Company plans to drill two vertical wells in the area to better determine reservoir properties and identify the optimal target of the six potential intervals. Link to full press release: |
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http://ir.rangeresources.com/phoenix.zhtml?c=101196&p=irol-news...
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Both the Weyerhaeuser and Cone wells received state approval for completion operations (frac) on 8/7. When those operations begin, it will be impossible to miss. It's 24 hours a day for consecutive days and plenty of truck traffic. Good luck to those mineral owners under the two wells.
Has there been any production test data released fro the Weyerhaeuser #1 well located in 15-16-1? The well was completed last fall and to date - nothing has been reported.
john, where did you hear that the well was completed last fall? The well reached Total Depth (drilled) on July 19 and received a work permit approval for completion operations on August 7. As of the last state report, the work had not been done. Also note the short lateral length to be fracked. This is a test well.
07/19/2017 |
05 |
14420 |
TD 7/9/17; SET 5" TO 14218' W/ 420 SX |
WORK PERMITS
REFERENCE NUMBER |
APPLICATION DATE |
EXPIRATION DATE |
WORK PERMIT TYPE |
WORK PERMIT STATUS |
WORK PERMIT STATUS_DATE |
TOTAL DEPTH |
WORK_PERFORMED |
|
|
WORK DESCRIPTION |
835-17-3-14 |
08/07/2017 |
08/04/2018 |
HYDRAULIC FRACTURE STIMULATION |
APPROVED |
08/07/2017 |
15630 |
N |
|
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PERF & FRAC 12035-13982' |
WELLS
SERIAL | WELL NAME | WELL NUM | ORG ID | FIELD | PARISH | PROD TYPE | SEC | TWN | RGE | EFFECTIVE DATE | API NUM |
---|---|---|---|---|---|---|---|---|---|---|---|
249569 | WEYERHAEUSER CO 15-10 H | 001 | R3800 | 9203 | 25 | 00 | 015 | 16N | 01W | 01/01/2017 | 17049208260000 |
PRMT DATE | SPUD DATE | STAT DATE | ST CD |
---|---|---|---|
04/14/2016 | 06/05/2016 | 07/14/2016 | 31 |
WELL SURFACE COORDINATES
Surface Longitude | Surface Latitude | Lambert X | Lambert Y | Ground Elevation | Zone | Datum |
---|---|---|---|---|---|---|
92-27-17.579 | 32-22-21.154 | 2013930 | 620520 | 236.8 | N | NAD-27 |
WELL SURFACE COORDINATES GENERATED BY DNR
UTMX 83 | UTMY 83 | LONGITUDE 83 | LATITUDE 83 |
---|---|---|---|
551266.69607999 | 3581877.85865158 | -92.45502637 | 32.37269476 |
BOTTOM HOLE COORD
EFFECTIVE DATE | END DATE | PLUGBACK TOTAL DEPTH | TRUE VERTICAL DEPTH | MEASURED DEPTH | LAT DEG | LAT MIN | LAT SEC | LONG DEG | LONG MIN | LONG SEC | COORDINATE SOURCE | LAMBERT X | LAMBERT Y | ZONE | COORDINATE SYSTEM |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
07/14/2016 | 14297 | 14324 | 32 | 22 | 18.682 | 92 | 27 | 20.557 | 02 | 2013674 | 620270 | N | 01 | ||
10/04/2016 | 14297 | 17632 | 32 | 23 | 24.769 | 92 | 27 | 23.998 | 04 | 2013377 | 626948 | N | 01 | ||
07/20/2016 | 14297 | 14324 | 32 | 23 | 24.769 | 92 | 27 | 23.998 | 04 | 2013377 | 626948 | N | 01 | ||
04/14/2016 | 15200 | 15217 | 32 | 22 | 18.682 | 92 | 27 | 20.557 | 02 | 2013674 | 620270 | N | 01 |
WELL HISTORY
SERIAL | WELL NAME | WELL NUM | ORG ID | FIELD | ST CD | PT | WELL CLASS | EFF DATE | END DATE | STAT DATE |
---|---|---|---|---|---|---|---|---|---|---|
249569 | WEYERHAEUSER CO 15-10 H | 001 | R3800 | 9203 | 31 | 00 | 01/01/2017 | 07/14/2016 | ||
249569 | WEYERHAEUSER CO 15-10 H | 001 | M980 | 9203 | 31 | 00 | 07/20/2016 | 12/31/2016 | 07/14/2016 | |
249569 | WEYERHAEUSER CO 15 | 001 | M980 | 9203 | 31 | 00 | 07/14/2016 | 07/19/2016 | 07/14/2016 | |
249569 | WEYERHAEUSER CO 15 | 001 | M980 | 9203 | 01 | 00 | 04/14/2016 | 07/13/2016 | 04/14/2016 |
SCOUT INFO
REPORT DATE | WELL STATUS | MEASURED DEPTH | TRUE VERT DEPTH | DETAIL |
---|---|---|---|---|
10/19/2016 | 05 | 17632 | TD 9/23/16; SET 5 & 5 1/2 TO 17620' W/ 895 SX | |
06/23/2016 | 05 | 11266 | SPUD 6/5/16; SET 10 3/4 TO 3000' W/ 1206 SX; TEST BOB SET 7 5/8 TO 11002' W/ 1961 SX | |
04/14/2016 | 01 | 15217 | 2318' FNL & 1670' FEL OF SEC 15. PBHL: 2571' FNL & 1926' FEL OF SEC 15. |
PERFORATIONS
SERIAL NUM | COMPLETION DATE | UPPER PERF | LOWER PERF | SANDS | RESERVOIR |
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WELL TESTS
RPT TYP | TEST DATE | RPT DATE | OIL POT | COND | GAS DEL | WATER | BSW% | FLOW PRES | SHUTIN PRES | CHOKE | UPPER PERF | LOWER PERF | BOT HOLE PRES |
---|
WELL ALLOWABLES
EFFECTIVE DATE | END DATE | LUW CODE | LUW TYPE CODE | ALLOWABLE | ESTIMATED POTENTIAL | CURRENT ALLOWABLE TYPE |
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LEASE\UNIT\WELL PRODUCTION
RPT DATE | LUW CODE | STORAGE FAC | DOC USE | WELL CNT | OPENING STK | OIL PROD(BBL) | GAS PROD(MCF) | DISPOSITION | CLOSING STK | PARISH |
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CASING
COMPLETION DATE | CASING SIZE | WELLBORE SIZE | CASING WEIGHT | UPPER SET DEPTH | LOWER SET DEPTH | CEMENT SACKS | TEST PRESSURE | HOURS UNDER PRESSURE | TEST DATE | CASING PULLED | CREATION PROCESS |
---|---|---|---|---|---|---|---|---|---|---|---|
10/04/2016 | 0512 | 0634 | 18 | 0 | 17626 | 895 | 1500 | .5 | 10/02/2016 | WELL HISTORY | |
07/14/2016 | 0758 | 0978 | 29.7 | 0 | 11002 | 1357 | 1500 | .5 | 06/18/2016 | WELL HISTORY | |
07/14/2016 | 1034 | 1312 | 40.5 | 0 | 3000 | 1206 | 1500 | .5 | 06/06/2016 | WELL HISTORY |
PLUG AND ABANDON
P and A DATE | LOCATION TYPE | CASING CUT TYPE | CASING CUT DEPTH | MUD WEIGHT LEFT | COMMENTS |
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PLUGS
PLUG TYPE | UPPER PLUG DEPTH | LOWER PLUG DEPTH | SACKS OF CEMENT | SLURRY WEIGHT |
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TUBING AND PACKERS
COMPLETION DATE | TUBING SIZE | TUBING LOWER DEPTH | TUBING UPPER DEPTH | PACKER DEPTH |
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WORK PERMITS
REFERENCE NUMBER | APPLICATION DATE | EXPIRATION DATE | WORK PERMIT TYPE | WORK PERMIT STATUS | WORK PERMIT STATUS_DATE | TOTAL DEPTH | WORK_PERFORMED | DOCUMENTATION RECEIPT DATE | TEST SAND | WORK DESCRIPTION |
---|---|---|---|---|---|---|---|---|---|---|
336-16-5 | 06/30/2016 | 06/30/2017 | PLUGBACK | EXPIRED | 07/10/2017 | 0 | N | PLUGBACK @ 10850' | ||
616-16-2 | 10/17/2016 | 10/14/2017 | DEEPEN | APPROVED | 10/17/2016 | 17632 | N | DEEPEN TO 17632' | ||
617-16-3-14 | 10/17/2016 | 10/14/2017 | HYDRAULIC FRACTURE STIMULATION | APPROVED | 10/17/2016 | 17632 | N | PERF & FRAC 13480-17600' |
That Weyerhaeuser well, S/N 249569, is not complete either according to the work order. As indicated by the Status Code 31, it is temporarily shut in waiting on completion. The work order for the frack was approved on 10/17/16 and does not expire until 10/14/17. The "N" indicates that the work has not been performed as yet reported. There is some lag time in the database being updated by the operator's report. Have you seen or heard that the frack has occurred?
What do you think is Range's strategy in drilling 3 wells in the same section - 15-16-1 ?
To try different completion designs. Drilling the LCV doesn't seem to be the problem. The challenge is how to frack the formation and maintain the artificial fracture network. Since these are vertical wells they can only test one completion design in each well. Three wells gives them three opportunities. That's my best guess. You might want to ask Jay for his opinion since he drills wells and I don't.
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