Oklahoma Operator News: Newfield's Record STACK Well
3-27-2017: Newfield announced the results of a record STACK well, The Burgess 1H-18, which produced a 24-hr flowrate of 2,931 BOE/D and a 20-day average rate of 2,492 BOE/D.
"When compared against publicly available industry data, the Burgess achieved record 24-hour oil production per 1,000' of gross perforated interval (1,000' GPI) --- or 417 barrels of oil per 1,000' GPI. The well also had a record 20-day average oil production rate of 361 barrels per 1,000' GPI. These rates are the highest oil production rates per 1,000' GPI publicly reported to date in SCOOP and STACK" according to Newfield's press release.
The Burgess 1H-18 is located in Section 07-15N-07W (BHL: 18-15N-07W), of Kingfisher County, OK; which is located in the southern portion of Kingfisher County.
Newfield currently has approximately 400,000 net acres in the STACK/SCOOP. According to their 2017 Outlook Presentation, Newfield plans to average 10 rigs in the STACK/SCOOP.
Last November we looked at the top 50 wells in the STACK based on their first months oil production. Newfield had the most wells in the top 50 as the chart illustrates.
From a mineral buying standpoint it appears that a lot of attention is given to those townships which are located in the "Over-Pressured Region" of the STACK, the majority of which is located in Blaine County, OK. A lot of the recent attention is due to the results Continental reported on 12/13/2016, when they announced that the Angus Trust 1-4-33XH Well, located in 14N-12W, produced 4,642 BOE/D in a 24-hour test. To learn more about this well read our December "Oklahoma Operator News" article.
Mineral prices around 15N-07W, Kingfisher County, OK will now likely jump due to Newfield's announcement. Leasing trends have been heading West into Dewey and Custer Counties. It will be interesting to see if companies continue moving West, or re-focus their attention on the Canadian/Kingfisher border in and around Newfield acreage.