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no, i don't but i've experienced the same thing. with luck, someone here will know the answer; i've wondered about it for a while.
note: great photos.
A very good well. I guess you have to go further south & west, and get deeper, if you want a higher GOR. Goodrich is still having a hard time getting a successful well with a lateral over 6,000 ft., hopefully they will succeed with the next 4 wells.
P.S. Take that Devon:)
Thanks Jay for the post. Very good information.
I agree. Until they find the right GOR these wells with low GOR will go on pump soon after completion. That higher GOR is definitely South and West.
At this stage in the TMS, given that it has taken a long time to get going and leases are getting long in the tooth, if an operator can drill 5,000 ft laterals and get an IP of 1,250 barrels of oil, it might be the prudent thing to stick with shorter successful laterals.
Naturally, the longer the lateral, the more increased time and risk of a mechanical issues/failure and cost. I have been told by folks in the know that when you start going beyond 6,000 ft laterals the risks for problems really starts going up.
The last thing the TMS needs at this point is more long drill time, high cost wells that end in mechanical failure with marginal production. We have had a rash of that and it has caused a lot of hesitation from new entrant Operators into the play.
On a per linear foot of lateral basis, the Blades well just might be the best well to date on the initial IP rate. It will be interesting to see what the IP 30 and beyond does now.
Just some thoughts to think about.
~ ~ John
I imagine Goodrich's JV partner in the former Devon acreage - Sinopec is pretty happy.
If Sinopec were to pony on up and do a JV with them on Goodrich's original acreage, all of a sudden Goodrich's stock and drilling funds would likely shoot to the moon.
If they pull off some more successful wells on former Devon acreage and on original acreage I believe it is quite likely that Sinopec might potentially be a huge funding catalyst that could put Goodrich in an enviable position as an operator in the TMS.
Just some more thoughts.
~ ~ John
Amazing what a good well and news does.
Goodrich Petroleum completes Tuscaloosa well, shares +10% premarket
~ ~ John
I agree, a few more good wells and the cash capital issue will be very easy to solve, the question will be who will offer the best deal. One area that could slow down Goodrich is the human capital. I think they are good for a 5 rig program, but if they want to get to 10 rigs, they will have issues, especially since the TMS is still a new and tricky play.
John, good point about going for more reasonable length laterals. I would encourage you to tell all the mineral owners you know to make formal requests to their respective state boards to not allow unit sizes of above 1280 acres. Hey, maybe even lobby the politicians on this issue.
Horizontal drilling requires unit sizes and shapes that accommodate efficient development however I have yet to see the unconventional reservoir that would require a unit to be greater than 960 acres, one and one half sections. Even with a 330' set back requirement a unit of that size would allow a max lateral length of 7260'.
Skip, I agree with you on the 960 acre max size.
Nobody listens to me. Not even the dog, that is why I don't have one. LOL
However, all mineral owners should include in the Mississippi State Oil and Gas Board Forced Integration file their written dispute and protest about being forced integrated into these large units, with the specific reserved reservation to mount a future formal protest. Even if you reluctantly sign the lease that is the best offer in the unit instead of taking the penalties. Make sure you sign and put:
I sign this lease under Duress above your signature. Also make the Oil Companies sign the Lease as well. You cannot sue for breach of contract unless they have signed the Lease.
By doing this you are on record as protesting from day one and preserve your rights as best as possible at that time.
~ ~ John
Congrats to Goodrch and others with a WI in this Blades well (Sinopec), as well as the landowners. This is great news for folks who own mineral interests in Tangipahoa Parish. As I recall, Devon formed 5 or so Little Silver Creek units, all relatively close to the Blades 33 H-1. Wonder what will come next?
Again congrats, and HAPPY EASTER!