Tag Archives: the well map

The San Juan Basin: What You Need to Know

General Information
Why I should care: It’s a new horizontal play with some interesting production results.
Geographical location:  Northwest New Mexico.
Producing formations: Gallup, Mancos.
Main operators: Encana (ECA), WPX Energy (WPX).
Leasehold: ECA (176k net), WPX (31k net).
Average well cost: $4.5MM.
Average Royalty: 18%.

Average Peak Month Production by Formation
Gallup (27 wells): 275 BOPD and 406 Mcfpd (81% Oil).
Mancos (9 wells): 194 BOPD and 265 Mcfpd (71% Oil).

Source: www.thewellmap.com / New Mexico Oil Conservation Division.

Average Peak Month Production by Operator
ECA (27 wells): 215 BOPD and 409 Mcfpd (74% Oil).
WPX (6 wells): 391 BOPD and 318 Mcfpd (87% Oil).

Source: www.thewellmap.com / New Mexico Oil Conservation Division.

Average Peak Month Production by County
Rio Arriba (3 wells): 173 BOPD and 332 Mcfpd (56% Oil).
Sandoval (14 wells): 354 BOPD and 545 Mcfpd (79% Oil).
San Juan (16 wells): 175 BOPD and 271 Mcfpd (79% Oil).

Source: www.thewellmap.com / New Mexico Oil Conservation Division.

Largest Well by Cumulative Production
San-Juan-Basin_Biggest-Well

Source: www.thewellmap.com.

Smallest Well by Cumulative Production
San-Juan-Basin_Smallest-Well

Source: www.thewellmap.com.

Economics
Assuming $90 oil, $3.50 gas, 80% NRI and $4.5 well cost, a company needs to recover approximately 60 MBO (thousand barrels of oil) and 65 MMcf (million cubic feet of natural gas) to break even. Of the 10 wells that have been producing in the play for two years or longer, 3 have broken even. These three wells had peak production rates ranging from 275 BOPD and 718 Mcfpd to 535 BOPD and 854 Mcfpd. These ranges give us some parameters which will alow us to judge the ecoomics of new wells coming on.

The average peak month rates for wells spudded in 2013 are 329 BOPD and 400 Mcfpd, numbers that are similar to our early wells that have broken even. While it’s very early in this play, I think there’s reason to believe the average San Juan Basin well will pay back in two to three years which makes it competitive with current major plays from an economics standpoint. Will it be as big? Highly doubtful, but it could provide a nice production/earnings bump for the play’s early entrants.

The Well Map Update (12-3-13)

Testing is finished with The Well Map and we’re going to go live next week. Here’s what you need to know:

*There’s roughly 13k wells on the map and we’ll be adding more each week.
*The 13k wells include areas such as the Bakken, Eagle Ford, Miss Lime, Powder River Basin, DJ Basin, Piceance Basin, Permian Basin, Granite Wash, Marcelllus and Utica.
*We’ll be updating existing data and adding new data all the time. Wells from the San Juan Basin, SCOOP and Marmaton are coming soon.
*For quick analysis of the data we’ve installed several filters including operator, well name, formation, wellbore, spud date, state/county and production ranges.
*Once data is filtered, the filter summary averages the data filtered which allows the user to pull data points such as average production by operator, formation or state quickly.
*The map will be free, all you have to do is sign-up.
*If you want to stay up to date on the new wells we add each week and crunch raw data, we’ll be offering several newsletters containing just that, these start at $50/month.
*To stay up to date on new features and launch information, like us on Facebook and follow us on Twitter.

Thanks for your support,

The Well Map Team

The-Well-Map

The Well Map Update (8-15-13): Beta Test

The new Well Map site will be launching very soon at the same url (www.thewellmap.com) as the current test site. We’re almost finished with the site and will be releasing credentials for a beta test early next week. If you’re interested in being a beta tester, email braden@thewellmap.com for more information.

As a tester, you’ll be able to access peak month rate and cumulative production data on wells in the Bakken, DJ Basin, Eagle Ford, Mississippian, Powder River Basin, Tuscaloosa Marine Shale and Utica. Your only obligation will be to complete a short survey based on your experience using the site.

-Braden

Map Page Preview

Peak Month (PM) Production
thewellmap_screenshot

Cumulative (CUM) Production
The-Well-Map_Front-Page

The Well Map Update (3-20-13): Feedback

When I initially started working on The Well Map, I was planning on building a dynamic filter into the free version you see today, before moving it to a new web platform where access would be restricted to paying customers.  Don’t plan on the former being available, however there will be a free demo map with limited well map data points once the new site launches.

The new site is currently under development with an expected launch date of June, 2013.  The map will have multiple filter options for county, operator and well name in addition to ranges for spud date, oil/gas production rates (30-day and cumulative), and oil cut.  There will be other features built into the map too which are designed to make your experience a good one.

Are there any functions I’m  missing that any of you think would be useful?

I’m also working on building in analytics to support the map data, one piece of which will be average NGL cuts where applicable as public data doesn’t break these out at this point.  Are there any other analytical pieces that you think would be helpful?

I appreciate your feedback as me and my team work to complete the first build of this website.

The Well Map Update (2-4-2013)

I apologize for the “pump-fake” on the new well map features.  Development is taking longer than expected due to my developer’s work load, but hopefully we’ll have something soon.  I also apologize about some data inconsistencies as for a few days the integers from production values weren’t displaying in full after we moved the well map data to a new database.  These issues have been corrected.

I now have North of 2,500 wells up on the website after adding some Encana (ECA), Bonanza Creek (BCEI), Bill Barrett (BBG) and Anadarko (APC) wells in the DJ Basin/Wattenberg Field in addition to 43 Granite Wash wells drilled by Chesapeake (CHK).  All of the Granite Wash wells are located on the East side of the Texas Panhandle in Hemphill, Lipscomb, Ochiltree, Roberts and Wheeler Counties.

These wells include results from several Hogshooter/Missourian Wash wells, the most recent of which is the Stiles 67 SL #22H well which had a 29 day IP rate of 2.0 MBbls of oil and 4.3 MMcf of natural gas, a monster to say the least.  CHK has drilled quite a few wells in the Granite Wash area and I picked the oilier set for the most part.  With that said, there’s a few natural gas wells in the mix to go along with six wells which had 30-day rates of more than 1 MBbls of oil.

As many of you know, Texas doesn’t conform to the township-range-section system that the rest of the country (outside of Louisiana?) uses, so in the location box I put the formation that the well was drilled into.  The industry often refers to these formations collectively as the “Granite Wash,” but know that this is only a generalization as the Granite Wash is its own formation with the rest of these formations sharing similar geological characteristics.  The stratigraphic map below will help you fill in the blanks if you’re unfamiliar.

Granite Wash/Texas Panhandle Stratigraphic Map
Granite-Wash_Stratigraphic-Map
Source: Forest Oil.

I’ll have more on the Texas Panhandle soon and I’ll fill in the Oklahoma side of the Wash as well.  I know a couple of you requested map data on the formation though, so I thought I’d get this up sooner than later.

Braden

The Well Map (12-3-12)

Regular viewers of The Well Map know that I’ve recently added the Oklahoma side of the Mississippian Lime play to the map.  The Oklahoma production numbers come with several caveats discussed as follows:

1) Natural gas production information isn’t provided for wells the state designates as “oil wells”, so you will see an “NA” in the gas column for those wells.
2) Because I didn’t have natural gas production to determine an oil cut, the “oil cut” column was obtained from the initial production reported by the company in the completion report.
3) Oil production is compiled monthly and days producing of a particular well is not logged, so I assumed each well produced for 30 days per month in the “IP Days” column (just like Texas).  Because some wells undoubtedly produced for less than 30 days, production rate may be understated.

What additions/changes to the well map will be made moving forward?

1) By the end of December I’m hoping to have a redesign of the website which will include a filter to make navigation of the site easier.
2) I will continue to add wells in existing plays on the map with expansions into others coming soon.  If there’s a play you would like to see added sooner than later, let me know.

-The Energy Harbinger