Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on June 16, 2014 at 5:24

Helmerich & Payne Rig #249 reported 6 days Drilling Ahead, spud date 6/8, 6/13.

Permalink Reply by Skip Peel - Mineral Consultant on June 20, 2014 at 16:11

Helmerich & Payne Rig #249 reported 13 days Drilling Ahead, 6/20.

Permalink Reply by Skip Peel - Mineral Consultant on June 28, 2014 at 2:03

Helmerich & Payne Rig #249 reported 20 days Drilling Ahead, 6/27.

Permalink Reply by Skip Peel - Mineral Consultant on July 3, 2014 at 16:03

Helmerich & Payne Rig #249 reported 27 days Drilling Ahead, 7/3.

Permalink Reply by Skip Peel - Mineral Consultant on July 11, 2014 at 15:24

Helmerich & Payne Rig #249 reported 34 days Drilling Ahead, 7/11.

Permalink Reply by Skip Peel - Mineral Consultant on July 20, 2014 at 15:23

Helmerich & Payne Rig #249 reported 41 days Drilling Ahead, 7/18.

Permalink Reply by Curious George on July 22, 2014 at 1:24

Isnt this the same one that had spud to TD of 29 days on one well and #0 something on another well? 

Permalink Reply by Skip Peel - Mineral Consultant on July 22, 2014 at 2:23

I don't recall if the rig was mentioned in the press release on the good drill time.  It is obvious that this latest round of wells by multiple operators is taking considerably longer than the best times reported.  The companies that tout their shortest drill times create mineral lessor concerns when their well is not drilled in similar days to TD.  These are deep, complicated and challenging wells. 

Permalink Reply by Curious George on July 22, 2014 at 2:38

H&P #249 did the Blackstone in 29 days.  I know they are going deeper at the SD Smith than Blackstone but wouldnt think that would equal 10+ days unless they ran into some sort of problem ( mechanical, weather, etc)

Permalink Reply by Skip Peel - Mineral Consultant on July 22, 2014 at 2:44

It's not just the Smith well that is taking longer.  All the wells nearing or at TD have been operating a good deal longer than 29 days.  And they all have drill times longer than the Smith.

Permalink Reply by RGV AG on July 22, 2014 at 3:22

I have been interested this myself.  Curious situation.  In the past snippets of information would leak out, but it appears that the drilling companies are controlling rumors and information a little better. 

Permalink Reply by Skip Peel - Mineral Consultant on July 22, 2014 at 3:33

They have been burned by generating high expectations in an emerging play with a lot of learning curve yet to be navigated.  Goodrich saw it's stock get beat up when the last well result was not as good as the previous.  Even though there are often geophysical reasons for variations in initial well results (and drill time) The Street does not seem to notice, or care.  Over promoting a play is a double edged sword. 

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