Monday, April 23, 2012

Another GMX Resources (GMXR) Well Comparison: The Eleanore 1-5

I wrote a detailed earlier post about the new GMXR well the Lange and its "offset" well, the Taboo, which was drilled by Slawson. The Taboo data implies that the decline rate of the Lange will be quite steep.

Looking for a comparison for the Wock well, I found that Continental Resources drilled a well 2 miles east of the Wock in 2004, the Eleanore 1-5. (If you look at this map, the Eleanore is the green dot to the east.)

It looks like the Eleanore was drilled with a 6200' lateral. In seven-and-a-half years, the cumulative production of oil has been only 31,000 barrels. It is currently producing about 5 barrels of oil per day. The initial production rate was 125bbl/d but this had fallen to 12bbl/d by the end of the first year.

1 comment:

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