Petrobank slows Bakken work in Saskatchewan
Petrobank Energy & Resources Ltd., Calgary, said it is the largest Bakken producer in Canada.
By OGJ editors
HOUSTON, Mar. 6 -- Petrobank Energy & Resources Ltd., Calgary, said it is the largest Bakken producer in Canada.
The company built the production of its Canadian business unit to an average of 22,274 boe/d in the 2008 fourth quarter compared with 17,775 boe/d for all of 2008, mainly on strong Bakken results. The unit's production was estimated at 22,000 boe/d in February 2009.
Operating in the Williston basin generally east and northeast of Weyburn, Sask., Petrobank is running two rigs in the Bakken. It reduced its activity as commodity prices declined from an average of eight rigs in 2008 and as many as 10 rigs.
The company drilled 161 net wells in 2008 with a 99.4% success rate and compressed the time from spud to on production to 35 days. It plans to drill 40 wells in 2009 at current prices and as many as 120 if prices improve.
The company's recent efforts to further improve Bakken production have focused on increasing the intensity of fracs by several means.
It is increasing the number of staged fracs from 8 to 11 in its 1,400-m laterals for a 38% increase in frac intensity per square mile. It is doubling the number of wells per square mile with shorter 600 to 700-m laterals and 8 fracs in each leg for a 200% increase in frac intensity.
It is also doubling the number of locations per square mile, with each well having two 600 to 700-m laterals from a single vertical well bore and each leg receiving 8 staged fracs, representing a 400% increase in frac intensity.
Facilities at Viewfield, Creelman, and Freestone, Sask., have been connected to the main Midale gas processing plant with 100 km of new pipeline to capture gas and gas liquids produced with the Bakken's light oil. Together they are conserving more than 6.5 MMcfd plus NGL. Two more gathering facilities are to be built in 2010 as drilling spreads north.
Petrobank grew its land base in 2008 to 270 gross (236 net) square miles.
Since acquiring Peerless Energy Inc. in January 2008, Petrobank has developed an innovative way to reenter old producing Peerless trilateral wells and perform multistage fracs in the two outside horizontal legs. Results exceeded expectations.