RE: The Silent Board7 Nov 2017 22:56
Evening all
Just to rub some salt into our wounds today the long awaited magnificent 10 which became 12 Sympson wells by Continental recorded a record production of 41,701 BOED for Oklahoma, remember we sold our interest in these wells at a premium of 61k prior to production in July having acquired them in 2015 they became DUCS for a time during the low POO period now completed the production would have been worth more than we thought at a massive 219 BOED circa $12000 per day at $55per boe to Magnolia production ;((( in essence if we had retained our interest our profit pre production of 61k would have been recouped in 5 days.
IMHO DYOR
"Continental recently completed its third 10-well pattern density project in the SCOOP Woodford condensate window, setting an Oklahoma record for an initial rate reported from a drilling spacing unit. The Sympson unit flowed at a combined peak 24-hour rate of 4,652 Bo and 222.3 MMcf per day (41,701 Boe per day).
The Sympson unit is a two-mile long, dual-zone, 10-well pattern unit that includes a total of 14 wells. Two one-mile parent wells and 12 children wells of various lengths were required to fill in the 10-well 1,280-acre unit pattern. This resulted in the equivalent of 5 wells in the Upper Woodford and 5 wells in the Lower Woodford. The 12 new wells produced at an average 24-hour peak production rate of 3,145 Boe per day (11% oil), and on average the wells are performing in line with the 2.3 MMBoe type curve. Lateral lengths ranged from 3,050 to 10,270 feet. "