Friday, April 6, 2012

Funny Money -- Nothing To Do With The Bakken -- US Cities on the Verge of Bankruptcy

Link here.

This is why bankruptcy in US cities is all about "funny money."

Los Angeles: talking bankruptcy, with "only" $200 million in debt.

Compared to Detroit, LA looks downright "peachy."

Detroit: long-term debt -- $12 billion.

Detroit's population in free fall; now at 1910's level -- 700,000.

Los Angeles: 10 million.

UPDATE: I Stand Corrected On This: Another Well Put Back On Confidential List -- And Another Good Whiting Well in Their Pronghorn Prospect -- The Bakken, North Dakota, USA

Update

I am wrong with these examples regarding wells being placed back on the confidential list. Teegue provides a good explanation. The Pronghorn State Federal 21-16TFH is on the confidential list. Again, the Bakken Shale Discussion Group is the authority on Bakken issues. I am only an amateur, trying to figure out the Bakken. I'm learning as I go along. Please go to the link: lots of great information regarding the Bakken.


Original Note

20839, CONF-->DRL-->CONF, Whiting, Pronghorn State Federal 21-16TFH, Park, s6/11;

I could be wrong, but my database is usually pretty accurate. This well was confidential at one time; one could access the drilling report. Then it went on DRL status. Tonight, while updating Whiting wells in the Pronghorn prospect, I noted that this well is back on confidential status.

This appears to be accurate. It is listed as confidential but yet one can access the 141-page file report which would normally not be there if this well had been on confidential list all the time. 

The reason for noting this can be found at this post.

If I am wrong regarding this well I apologize, but this is the way it seems to me.

On another note, it looks like Whiting might have another good well in their Pronghorn prospect:
  • 20504, conf, Whiting, Pronghorn Federal 21-13TFH, Park, 60,000 bbls < 3 months; 2/12

Reader Comments on Whiting's Plans for Their Pronghorn Prospect in Southwestern North Dakota -- The Bakken, North Dakota, USA

This information was sent to me via a comment regarding Whiting's Pronghorn prospect in southwest North Dakota, specifically in Park oil field:
Over the next 3+ yrs, it's going to be 3 in almost every 640 space in that area! Amazing! Soon there will be more wells than trees. The 3 wells per 640-acre spacing holds true to Whiting's 01/2012 report for this area, their Pronghorn prospect.
In the recent NDIC hearing dockets, I have noticed varying strategies for developing the Bakken. In some cases operators are asking for 14 wells in larger units; others are asking for multiple-well pads in smaller units, as small as 320-acre spacing.

But, yes, before it's all over, there will be more wells than trees in western North Dakota.

For more on the Park oil field, click here.

Update on the OXY USA Wells in the Cabernet -- The Bakken, North Dakota, USA

Updates

Later: see first comment. There are two Slawson and two Continental Resources wells in the Cabernet; three are active; one is confidential:
  • 20147, 378, Slawson, Dagger 1-10H, t10/11; F; cum 9K 9/12;
  • 22246, 458, Slawson, Dagger 2-10H, t3/12; cum 24K 9/12; 
  • 20537, 630, CLR, Carl 1-11H, s6/11; t10/11; F; cum 60K 9/12;
  • 20797, 1,208, CLR, Entzel 1-26H, s8/11; t12/11; F; cum 120K 9/12;
Original Post

A reader asked about OXY USA and the Cabernet field.  The comment was "attached" to a post that no longer so I've gone with a stand-alone post. The comment:
Can you find anything on OXY USA in the Cabernet field? We have not heard about OXY or the Cabernet field which supposedly is the "field of sweet oil."  OXY seems to be having problems on their wells, so if you find anything can you post it? Thank you.
I started noticing a difference in the IPs between Anschutz and OXY some time ago and have posted data regarding the same on two separate occasions:

March 13, 2012: OXY USA/Anschutz updated.

January 4, 2012: review of OXY USA since it entered the Bakken in 2011 

I think those two posts will provide a significant amount of background (at least superficially) and some of my thoughts.

Unfortunately, asking to look at the Cabernet field with regard to OXY USA may not be all that valuable. Since OXY USA bought Anschutz' assets, there hasn't been much activity in the Cabernet.

Here is a short  summary of activity in the Cabernet (these are now ALL the OXY USA wells/permits in the Cabernet). Note anything completed before 2011 was Anschutz.
  • 18359, 1,138, Kary 1-24-13H-144-97, t4/10; cum 135K 9/12;
  • 18644, 1,148, State 1-25-36H-144-97X, t4/10; cum 278K 9/12;
  •  18427, 876, Matthew Schmidt 1-35-2H-143-97, t5/10; cum 124K 9/12;
  • 17899, 1,191, Stroh 11-1H, t9/09; cum 157K 9/12; -- off-line since 5/12;
  • 18193, 1,666, Martin 34-31H, t10/09; cum 261K 9/12;
  • 18424, 2,409, Kenneth Stroh 1-12-1H-143-97, t9/10; cum 313K 9/12;
  • 18343, 48; Jaeger State 1-34-27H-144-97, t12/10; cum 180K 1/13;
  • 18892, 340, Evelyn Kary 1-15-22H-144-97; t3/11; cum 43K 9/12;
  • 21334, 755, Kenneth Stroh 2-12-1H-143-97, t5/12; cum 61K 9/12;
  • 22278, 593, Martin 2-30-31H-144-96; s2/12; t6/12; cum 104K 1/13;
  • 22543, DRL, State 2-25-36H-144-97; (interesting -- note #18644 above); first well on a dual pad with #22544
  • 22544, DRL, Kary 2-24-13H-144-97; 
Because there has been so little activity in the Cabernet since OXY USA acquired Anschutz assets there, it's hard to say how this will all play out. But we have four wells to watch (and, of course, #18644, also).

That, alone, must be disappointing to mineral owners in the Cabernet. My hunch is that a lot of folks would have expected Anschutz to have a fairly aggressive drilling program in the Cabernet based on their earlier work in the Bakken. 

Again, IPs are only one data point. I find more value in the 6-month, 12-month, and 2-year production numbers. We are so new in the Bakken that even the oldest OXY USA Cabernet well (previous Anschutz) is not even 2 years old yet.

Evelyn Kary, based on cumulative, seems to be disappointing. Jaeger State so-so.

Sorry I can't be more helpful answering this question about OXY USA and the Cabernet, but that's all I have. I've tagged this for follow-up in July, 2012.

You may want to click on the "Stroh" tag at the bottom of the bottom of the blog to see how Anschutz wells did in the general area of this field.

Delta Air May Buy an Idled Refinery -- WSJ -- Nothing To Do With The Bakken, Directly

A huge thank you to a reader for sending this story; linked here.

Williston, North Dakota: Fastest Growing Micro-Area in the USA -- Census Bureau

And they're crew camps, not man camps
Finally

This really is quite impressive: three of the top ten fastest growing micro-cities in the nation are in western North Dakota. 

Link to Dickinson Press here
Williston is the fastest-growing micro area in the country, and Dickinson and Minot also made the top 10, according to estimates released Thursday by the Census Bureau.

The population of the Williston micro area — which is Williams County — grew 8.8 percent from April 1, 2010, to July 1, 2011, Census estimates show.
Dickinson, #4, with four percent increase in growth.

Minot, #8, with 3.6 percent increase in growth.

The ranking, as impressive as it is, is distorted by a huge margin.
The Census does not count people who live in crew camps or other temporary housing.
I wish I could use similar reasoning/math when figuring my federal taxes.

This takes me back to something from my school days, the "three-fifths compromise."
The Three-Fifths Compromise was a compromise between Southern and Northern states reached during the Philadelphia Convention of 1787 in which three-fifths of the enumerated population of slaves would be counted for representation purposes regarding both the distribution of taxes and the apportionment of the members of the United States House of Representatives. It was proposed by delegates James Wilson and Roger Sherman. -- from Wiki.
As someone said, it's not how many noses there are, but how the noses are counted.

Oh, wow, note this: I almost missed it the first time. Debbie Downer now refers to "man-camps" as "crew camps." I agree. We should have been calling them crew camps all along, just like we call extended pickups, crew cabs. I wonder if calling them "crew camps" will make them more palatable among those who fear "places where a bunch of men live together."

Back on the Confidential List -- An Example

This is being re-posted with some additional information. 

April 6, 2012:

Elsewhere "blacksheep" asked if a well could be placed back on "confidential status" multiple times.  The answer is "yes," a well taken off the confidential list can be placed back on the list; it seldom happens, but I have seen examples.  Apparently "... it happens only when a recompletion is later attempted in a different pool than the pool targeted in the drilling permit."

Here's a recent example, if I understand the question correctly.

Oasis' Clark well in the Tyrone oil field north of Williston, originally targeting the Lodgepole formation, was taken off the confidential list. I believe it went to DRL status, but I forget. Regardless, at that time, the well file was posted at the NDIC site and one could access it.

Some days (weeks?) later, this well was placed back on confidential status. It is currently back on confidential status. One can still access the file/paperwork that was released when the well came off the confidential list the first time.

But now, it's back on the confidential list.

As a reminder, the Lodgepole is a member of the Madison Group which lies above the Bakken Pool.

I do not know if "re-entry" and "re-completion" are synonymous. It is not uncommon for a re-entry to be so designated with an "R" when "re-naming" the well.  I believe the file number/permit remains the same.

Random Look At EOG's Austin Wells in the Parshall Oil Field -- The Bakken, North Dakota, USA

Austin permits issued in 2015
32263, loc, EOG, Austin 99-3204H,
32262, loc, EOG, Austin 98-3204H,
32261, loc, EOG, Austin 97-3204H,
32174, conf, EOG, Austin 49-2834H,
32122, 601, EOG, Austin 436-2635H, t5/16; cum 86K 9/16;
32121, 901, EOG, Austin 437-2635H, t5/16; cum 105K 9/16;
32120, 871, EOG, Austin 438-2635H, t5/16; cum 59K 9/16;
31984, 800, EOG, Austin 439-2326H, t5/16; cum 84K 9/16;
31983, 708, EOG, Austin 440-2326H, t5/16; cum 59K 9/16;
31982, 689, EOG, Austin 437-2635H, t5/16; cum 98K 9/16;
31828, 563, EOG, Austin 463-1509H, t4/16; cum 100K 9/16;
31827, 693, EOG, Austin 455-1510H, t4/16; cum 74K 9/16;
31826, 707, EOG, Austin 454-1510H, t4/16; cum 87K 9/16;
31825, conf, EOG, Austin 67-2128H,
31824, conf, EOG, Austin 66-2128H,
31823, PNC, EOG, Austin 58-1720H,
31822, PNC, EOG, Austin 57-1720H,
31821, PNC, EOG, Austin 56-1720H,
31818, conf, EOG, Austin 83-2834H,
31817, conf, EOG, Austin 50-2834H,
31668, 823, EOG, Austin 435-3402H, t7/16; cum 41K 9/16;
31667, 418, EOG, Austin 434-3402H, t7/16; cum 24K 9/16;
31666, 887, EOG, Austin 433-3402H, t7/16; cum 51K 9/16;
31546, 458, EOG, Austin 59-1509H, t4/16; cum 106K 9/16;
31351, 1,241, EOG, Austin 54-3402H, t7/16; cum 77K 9/16;
31350, 1,176, EOG, Austin 53-3402H, t7/16; cum 66K 9/16;
31043, SI/NC, EOG, Austin 92-1807H,
30903, SI/NC, EOG, Austin 72-1807H,
30902, SI/NC, EOG, Austin 73-1807H,
30901, SI/NC, EOG, Austin 84-1807H,
Austin permits issued in 2014 (list is complete)
  • 29287, TASC, Hunt, Austin 154-90-27-22H-1, Parshall,
Austin permits issued in 2013 (list is complete)
  • 27194, 504, EOG, Austin 86-36H, Parshall, t6/14; cum 103K 9/16;
  • 27193, 495, EOG, Austin 87-36H, Parshall, t6/14; cum 111K 9/16;
  • 27189, 416, EOG, Austin 82-31H, Parshall, t6/14; cum 332K 9/16;
  • 27188, 449, EOG, Austin 81-3130H, Parshall, t6/14; cum 235K 9/16;
  • 27180, 480, EOG, Austin 91-01H, Parshall, t7/14; cum 128K 9/16;
  • 27179, 767, EOG, Austin 90-01H, Parshall, t6/14; cum 192K 9/16;
  • 27093, 380, EOG, Austin 78-18H, Parshall, t6/14; cum 101K 9/16;
  • 27092, 608, EOG, Austin 135-18H, Parshall, t6/14; cum 224K 9/16;
  • 26641, 30, EOG, Austin 47-3130H, Parshall, 2 sections, t6/14; cum 275K 9/16;
  • 26640, IAW/347, EOG, Austin 48-3130H, Parshall, t6/14; cum 94K 5/15; back on status but barely producing anything, 9/15;
  • 26628, loc, EOG, Austin 76-0333H, Parshall,
  • 26626, loc, EOG, Austin 33-0333H, Parshall,
  • 26625, loc, EOG, Austin 32-0333H, Parshall,
  • 26516, loc,
  • 26515, loc,
  • 26514, loc,
  • 26325, 343, EOG, Austin 42-1708H, Parshall, t2/14; cum 285K 9/16;
  • 26324, 480, EOG, Austin 77-1708H, Parshall, t2/14; cum 209K 9/16;
  • 25840, 916, EOG, Austin 34-0631H, Parshall, t12/13; cum 230K 9/16;
  • 25839, 942, EOG, Austin 131-0631H, Parshall, t12/13; cum 286K 9/16;
  • 25651, 1,179, EOG, Austin 36-0532H, Parshall, t9/13; cum 327K 9/16;
  • 25392, PNC, EOG, Austin 38-3204H, Parshall,
  • 25374, 1,414, EOG, Austin 39-3204H, Parshall, ICO, F, t9/13; cum 929K 7/17; still producing 6,000 bbls/month
Austin permits issued in 2012
  • 24077, PNC, EOG, Austin 112-2919, Parshall,
  • 24076, 1,096, EOG, Austin 31-2919H, Parshall, ICO, t9/13; cum 608K 9/16;
Austin permits issued in 2011
  • None
Austin permits issued in 2010
  • 19542, IAW/30, EOG, Austin 102-05H, Parshall, Three Forks, 13 stages; 900K sand; t1/11; cum 36K 5/15;
  • 19392, PNC, EOG, Austin 103-08H, Parshall, 
  • 19391, IAW/42, EOG, Austin 117-08H, Parshall, Three Forks, 15 stages; 1 million lbs; t12/10; cum 33K 5/15; off-line 6/15; remains off-line 6/17;
  • 19182, 812, EOG, Austin 107-31H, Parshall, t10/10; cum 126K 9/16; ?stages; 1.7 million lbs; ; the Three Forks was the target, but it looks like the upper Bakken shale was fracked?  back on-line 6/15; but off-line 4/17;
  • 18913, EXP, EOG, Austin 106-3019H, Parshall,
  • 18912, IA/442, EOG, Austin 125-30H, Parshall, t7/10; cum 119K 9/16; went off-line 4/16; back on-line 10/16;
Original Post

EOG has 35 "Austin" wells in T154-R90. All have reported IPs and cumulative production except for two on confidential status. (35 "Austin" wells as of the original posting date; it is possible more Austin wells will be added.)

It appears that "1" to "99" are middle Bakken formation wells.
It appears that "101" to "199" are Three Forks formation wells.

No particular order:

16713, EOG, Austin 1-02H; t12/07; 567K 9/16;
16768, EOG, Austin 2-03H; t12/07; 606K 3/16; only nine days in 3/16;
17177, EOG, Austin 3-04H; t6/09; 419K 3/16; inactive as of 3/16;
16795, EOG, Austin 4-09H, t12/07; 631K 3/16; inactive as of 12/15;
16990, EOG, Austin 5-14H, t5/08; 635K 3/16; inactive as of 3/16;
16954, EOG, Austin 6-15H; t4/08; 763K 9/15; inactive as of 10/15;
16972, EOG, Austin 7-23H, t7/08; 608K 3/16; inactive as of 3/16;
16885, EOG, Austin 8-26H, t2/08; 723K 3/16; inactive as of 12/15;
17075, EOG, Austin 9-11H, t6/08; 680K 3/16; only nine days in 3/16;
17120, EOG, Austin 10-34H; t8/08; cum 959K 7/17; still producing 4,500 bbls/month 24 days in 3/16;
17475, EOG, Asutin 11-01H; t7/09; 451K 9/16; 24 days in 3/16;
17262, EOG, Austin 12-05H; t8/08; 582K 3/16;
17346, EOG, Austin 13-08H; t10/08; 616K 9/16; inactive as of 3/16;
17539, EOG, Austin 14-18H; t11/08; 574K 3/16;
17386, EOG, Austin 15-17H; t11/08; 671K 3/16;
17416, EOG, Austin 16-19H; t12/08; 810K 9/16;
17470, EOG, Austin 17-20H, t6/09; 667K 3/16;
17222, EOG, Austin 18-21H, t9/08; 928K 7/17; inactive as of late 1/16; back on-line 6/16;
17500, EOG, Austin 19-30H, t11/08; 856K 3/16;
17614, EOG, Austin 20-29H, t9/09; 729K 3/16; 22 days in 3/16;
17227, EOG, Austin 21-28H, t8/08; 1.03 million bbls 6/17; producing 4,000 bbls/month; inactive as of late 1/16;
17287, EOG, Austin 22-31H, t10/08; 889K 7//17;
17122, EOG, Austin 23-32H, t8/09; 623K 3/16;
17111, EOG, Austin 24-33H, t6/08; 828K 7/17;
17078, EOG, Austin 25-35H, t10/08; 423K 2/16; inactive as of 3/16;
17040, EOG, Austin 26-36H, t11/08; 481K 3/16; only 8 days in 3/16;
17215, EOG, Austin 27-10H, t12/08; 603K /16; inactive as of early 2/16;
18010, EOG, Austin 30-13H, t5/10; 338K 9/16;

*******************************

18305, 66; EOG, Austin 101-15H, Three Forks,t12/09; 97K 9/15;
19542, IAW/30; EOG, Austin 102-05H, Three Forks, t1/11; 36K 3/15; 13 stages; 900,000 lbs sand
19392, PNC -->loc, EOG Austin 103-08H; noted to be back on LOC status in November, 2015;
18913, PNC, EOG, Austin 106-30H (2 sections); still EXP 2/13;
19182, 812; EOG, Austin 107-31H, Three Forks,  t10/10; 126K 9/16;
24077, PNC, EOG, Austin 112-2919H,
19391, IAW/42; EOG, Austin 117-08H, Three Forks,t12/10; 33K 9/15; 15 stages; 1 million lbs sand
18912, IA/442; EOG, Austin 125-30H, Three Forks, t7/10; 119K 9/16; 17 stages; 2 million lbs sand; off-line as of 4/16;