RE:RE:RE:RE:Baytex holds the top 15 Clearwater wellsdllscwbysfn wrote: It looks to me that they started drilling in 2021and by Nov. of 2022 they had production of 12,000 bbl/d. So those wells drilled in 2021 still produce oil, I do not know what the rate of depletion is. I think you have to factor that in. Also I thought they talked about how much oil they produced on AVERAGE over the whole year or YTD. They might exit 2022 with a much higher rate than the average for the year.
Any thoughts on this!?
JohnnyDoe wrote: red2000 wrote: 7 wells over 1,000 bbl/d !!! Amazing !
Avg. wells 964 bbl/d !!!! Total wells : 14,462 bbl/d !!!
And they expect to drill 31 net wells in 2023, see below !
There's a few things that don't really add up to me on Clearwater projections. If it produced 12,000 in November off 22 wells and they plan to drill 23 wells, wouldn't the production volume grow more than simply projecting 12-15000? At the low end, that's simply replacement level.
I also don't understand the math on well economics and thought these wells were more economic that that. Does anyone know the actual cost to drill a well? At 70 wti, 1000*30*70=2.1m * 7 months = 14.7 m in revenue. At 80 wti, 1000*30*80=2.4m * 5 months = 12m in revenue and at 90 wti = 1000*30*90=2.7m * 4 months = 10.8m in revenue. I don't understand how those three numbers equate with one another. We also used to hear a lot of "these wells payout in weeks" getting thrown around. Well, if we have the best wells and it's taking months at 90, where does weeks come from?
my understanding is that in November they were producing 12K daily but obviously the average for the year is a lot lower than that. But if they are producing 12K nd drilling all those wells, either they are underestimating or the decline rate is rather high