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Scoop-Stack Playbook 2017

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SCOOP/STACK: OVERVIEW 10 | September 2017 | hartenergy.com Cimarex holds 116,500 net prospective acres, 90,000 de-risked, in the Meramec, and has 136,500 net undeveloped acres in the Woodford. Its 24 5,000-ft Meramec laterals have posted an average 30-day peak IP of 1,417 boe/d (34% oil, 43% gas and 23% NGL), while its nine 10,000-ft laterals have upped 30-day IPs in the Meramec to an average of 2,057 boe/d. Cimarex holds an interest in or has data on all but three of the downspacing pilots. "The recent Cimarex-operated Leon Gundy pilot was a very successful outcome for us," Lam- buth said. "We drilled eight total wells, with four Meramec wells testing 10 wells per section, and four Woodford wells testing nine wells per section. Those Meramec wells are exceeding their parent wells." While this represents just one pilot result, he said, it is a placeholder for the company to proceed. In the eastern core of its Woodford holdings, Cimarex has an increased density pilot underway. Also on deck is the Leota-Jacobs infi ll project, a long lateral Woodford development. The company has drilled some "really good wells" in the northwest extension area in Blaine County, Lambuth said, where it jumped out early to acquire acreage. "We're also keeping an eye on a company that's moving into the deeper, gassier part of the play, bringing on some interesting wells, as well as operators moving down to the Merge," he said. Cimarex has drilled one well in the Merge and plans more. The company has about 35 wells scheduled in the Stack play this year, a mixture of Woodford and Meramec. During the first quarter, Cimarex completed and brought on production about 10 net wells in the Stack and has 15 more net wait- ing on completion. The company estimates wells currently cost $10.5 million to $12 million for a long lateral (10,000 ft). "The wells have about the same D&C [drilling and completion] cost as seen at the peak, but we have dramatically increased the amount of sand we're pumping," Lambuth said. "For the same cost, we're getting far better wells because of enhanced stimulation." Within the Meramec, Cimarex is still seeking the right recipe. "Based on recent wells, we are homing in, but we still have a lot left to get out by changing the design," he said. Continental ups type curves Continental Resources, meanwhile, continues to report big wells. Scoop net production averaged 62.178 Mboe/d, or 29% of the company's production for the fi rst quarter. Five rigs were working the Scoop. The company highlighted its Scoop Springer wells in Grady County, all of which were outperforming the company's historical 940 Mboe Springer type curve for a 4,500-ft lateral in the fi rst 30 to 60 days on pro- duction. These are the fi rst Springer wells Continental has completed since third-quarter 2015, and it plans to complete up to 10 more Springer wells this year. In the Scoop Sycamore Formation in Grady County, the company reported results of 7.8 MMcf and 225 bbl/d on a 5,800-ft lateral and 12.2 MMcf and 109 bbl/d on a 7,900-ft lateral on about 60-day tests. It plans to drill fi ve to seven additional Syca- more wells to help delineate the high-liquids win- dows of the play. Other Scoop Sycamore action was recently high- lighted by Heikkinen Energy Advisors' David Heik- kinen in a note about a big well by Ward Petroleum Corp. The Lynda 26-23-1XH in southern Grady County hit with a record Scoop IP rate of about 860 bbl/d of oil and 15.9 MMcf/d of gas. "The well targeted the Sycamore (Meramec) For- mation that had previously not seen nearly as much attention as the Meramec in the more northern Stack play," Heikkinen said. In the Stack Continental upped its production 20% from the previous quarter to 29,216 bbl/d. It reported three operated standalone wells in the Stack Meramec overpressured oil window and one in the condensate window with strong production rates. It has 11 operated rigs in the Stack, with six targeting the Meramec overpressured oil and con- densate windows and fi ve targeting Woodford in the Northwest Cana joint development agreement area in Blaine and Custer counties. John Lambuth

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