By Michael R. Vasicek

Drilling Risks

1. Loss Circulation

2. Sticking

3. Fishing Jobs

Drilling Risks

1. Loss Circl, Sticking Fishing 2. Poor formation qualities (maybe good show but tight

well or no shows at all 3. Geologic/Geophysics busts 4. Completion errors (i.e.: frac into water) 5. Small reservoir size (High exponential decline slope) 6. Loss of reservoir power mechanism 7. Product price fluctuations 8. Mechanical risks (wrong casing sizes and grades,

corrosive zones)

Buying Production

1. Price Fluctuations

2. Mechanical Risks

REQUIREMENTS

1. Must pay every 30 days

REQUIREMENTS

1. Must pay every 30 days

2. No purchases over 10 wells, prefer 1-5

Additional Requirements Found After Starting

1. You need to be the operator.

Additional Requirements Found After Starting

1. You need to be the operator. 2. Do not purchase anything with a lease

NRI under 75%.

Additional Requirements Found After Starting 1. You Need to be the operator. 2. Do not purchase anything with a lease NRI under 75% 3. You need to acquire enough interest to keep you

interested.

Additional Requirements Found After Starting

1. You need to be the operator. 2. Do not purchase anything with a lease NRI under 75% 3. You need to acquire enough interest to keep you

interested. 4. Anything under 3 bopd is almost impossible to make

money.

Who are your important friends

1. A pulling unit company

Who Are Your Important Friends

1. A pulling unit company. 2. Hot oiler

Who Are Your Important Friends

1. A pulling unit company 2. Hot oiler 3. SWD and Kill trucks

Who Are Your Important Friends

1. A pulling unit company 2. Hot oiler 3. SWD and Kill Trucks 4. Chemical man

Developing Relationships

Keeping Records

1. Purpose: give a brief purpose for working on well

2. Name of well service company (and the operator)

3. Rod parts: list: #of rods down, approx. depth, type of part (box, pin, body)

4. List where equipment was sent for repair

5. Names (phone numbers) of vendors

6. Remarks about obstructions (paraffin, scale, crimped pipe)

7. Pump Changes and why failed

Keeping Records

1. Brief purpose for working on well

2. Name of pulling unit (and the operator)

3. Rod parts: #of rods down/approx. depth, type of part (box, pin, body)

4. Where equipment was sent for repair

5. Names (phone numbers) of vendors

6. Remarks about obstructions (scale, crimped pipe)

7. Pump Changes and why failed

8. Holes in tubing: type-split or corrosion

Well Improvement

1. In most wells, secondary stimulation just accelerates production

Well Improvements

1. In most wells, secondary stimulation just accelerated production.

2. Mechanical Changes can have lasting effects that move the decline. 1. Slowing down

2. Changing chg stroke length

3. Time Clock or Pump-off controller

Rod Parts-What you can change

1. Change the speed 2. Change stroke length 3. Pump size (stress is logarithmic) 4. Replace boxes or rod’s 5. Proper timing or POC to prevent fluid pound

(keep rods in tension thru stroke)

Paraffins

1. Hot oil

2. Paraffin solvents

3. Hot water

4. Microbes

5. Paraffin knife

6. Magnetics, enercat tool

Successes

1. Buying on the edge of a waterflood.

Successes

1. Buying on the edge of a waterflood. 2. Mechanical Changes-Slow unit down

Successes

1. Buying on the edge of a waterflood 2. Mechanical changes – Slow unit down (Beckham) 3. Change BHA

Successes

1. Buying on the edge of a waterflood 2. Mechanical changes – Slow unit down

(Beckham) 3. Change BHA 4. Cost Controls

LIVING WITH STRIPPERS

OPERATING AND LIVING WITH STRIPPER WELLS