Friday, October 5, 2012

Why Does This Not Surprise Me?

I know nothing more than what is in this article at Reuters, but I can read between the lines. Others will interpret it differently, I'm sure. No need to comment. 
Chesapeake uses a road to get to one of its sites. 
The road is in need of repair. It is full of potholes and, in general, one big mess, especially when it rains. 
Chesapeake improves the road by covering it with gravel. 
The government notes that because the road is subject to flooding, one needs a permit from the US Army Corps of Engineers before making any improvements to the road. 
Chesapeake is fined $600,000. 
Chesapeake restores the road to its original condition, full of potholes, and, in general, one big mess, especially when it rains. 
Anything to harass the oil and gas industry. [We will learn later that with global warming and the drought, the road has not flooded in the last ten years.]

I would not have even seen the article, much less linked it, had it not been front page news for Yahoo!Finance. Even those editors can recognize craziness and harassment. And that's why I feel comfortable that there will be duplicative federal and state fracking regulations by the end of 2016. Anything to harass the oil and gas industry.
Now, to escape this craziness (posted just a few days ago, but....):
Do I Love You, Hillbilly Moon Explosion

API Concerned About Duplicative Fracking Regulations -- Cites "North Dakota Miracle"

Link here to Oil and Gas Journal.
Policymakers across all levels of US government must guard against unnecessary or duplicative regulations that could impede investments in unconventional oil and gas plays, which already created jobs and boosted revenues for some states, American Petroleum Institute Chief Economist John Felmy said. 
Speaking with reporters during a conference call from Washington, DC, Felmy affirmed API believes that strong state regulations and safety practices already are in place for shale development and hydraulic fracturing. “In recent years, the application of horizontal drilling has allowed hydraulic fracturing to access enormous, previously unreachable supplies of oil and natural gas—and to do so safely and responsibly,” Felmy said. 
“It was these technological achievements that led to what is known as the ‘North Dakota Miracle,’ which has transformed that state into our nation’s No. 2 oil producer, reduced unemployment there to 3%, and driven incomes up sharply,” he said. 
These same technologies were used to tap unconventional reserves, create jobs, and boost state revenues in Pennsylvania, Texas, Arkansas, Louisiana, Ohio, and other states, he added.
Also at the link regarding the New York state frack ban -- this quote says it all:
A New York Times article dated June 13 quoted sources close to Gov. Andrew Cuomo saying the state might pursue a plan “to limit the practice to several struggling counties along the Pennsylvania border, only in towns that approve the technology.” 
If accurate, it suggests that the governor considers....ah, why go on? I've got better things to do.

But back to that earlier quote:
“It was these technological achievements that led to what is known as the ‘North Dakota Miracle,’ which has transformed that state into our nation’s No. 2 oil producer, reduced unemployment there to 3%, and driven incomes up sharply,” he said. 
I've always maintained that there are two important things about the Bakken: a) what it has done for North Dakota; and, b) more broadly, as a laboratory, pretty much unfettered by federal regulation, what the Bakken has done for the nation.

My hunch: we will have duplicative federal and state regulations by 2016.

Random Update on Production of Three Ross Field Wells

Elsewhere someone asked for production information on the following wells, all long laterals.
  • 19888, 681, EOG, Clearwater 25-3202H, Ross, t1/12; cum 83K 8/12; F; 21 stages; 4 mil lbs
  • 20260, 288, EOG, Clearwater 16-3301H, Ross, t1/12; cum 116K 8/12; F; 31 stages; 4 mil lbs
  • 20583, 128, EOG, Clearwater 27-3102H, Ross, t4/12; cum 74K 8/12; F; 41 stages; 4.2 mil lbs
Notice the continued strong production after eight months. 

The Ross oil field is interesting for two additional reasons: 
a) it was back in January, 2010, that EOG applied to NDIC for 2560-acre spacing units in this field (wow, that seems like a long time ago); and reminds us that 2560-acre spacing has been around for quite awhile; and,  
b) this is where one of the first, if not the first CBR oil terminals was built; built by EOG. 
EOG also has its own sand mines in Wisconsin. This company is taking care of numero uno, and not relying on others if they don't have to. It is really enjoyable to watch the strategies of the various players in the Bakken. 

For 19888:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

For 20260:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

For 20583:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

Twenty-Two (22) More Permits -- The Williston Basin, North Dakota, USA

Number of active rigs: 190, steady, but up one

Twenty-two (22) new permits:
  • Operators: SM Energy (6), CLR (4), Triangle (3), XTO (2), Fidelity (2), Hess, Enerplus, Armstrong, Whiting, Baytex
  • Fields: Heart Butte (Dunn), Davis Buttes (Stark), Antelope Creek (McKenzie), Bluffton (Divide), Heart River (Stark), Dutch Henry Butte (Whiting), Dollar Joe (Williams), Heart Butte (Dunn)
Comments: Armstrong Operating has a permit for a wildcat in Bottineau County;

Note to the Granddaughters

Tomorrow the older granddaughter will be participating in her first swim meet. The venue is at a technical school/swimming pool where we have not been before. I decided to take a ride out to see what it looked like, to make sure we knew the route to take tomorrow when we go. It's fourteen miles from where the granddaughters live. I biked it and it took exactly two hours. I'm now on my way back. About half-way back I stopped for a drink at McDonald's, and to check the news, and to post the permitting activity (which I just did above). McDonald's never fails: always a wi-fe connection.

Checking the news I am absolutely amazed how quickly the price of gasoline shot up in California. Folks need to realize that hardly anything out of the ordinary occurred: a couple of small refinery fires (on opposite coasts?) -- and that was about it, as far as I know. Everything else is either regulatory or calendar-based (also regulatory) -- for example, the switchover from "summer" gas to "winter" gas in California. If this is all it takes to drive the price of gasoline up another full dollar per gallon and, in some cases, result in spot shortages, can you imagine what would happen in a "real" situation?

It really surprises me that this is all it takes. In fact I wonder if there might be some individual service stations taking advantage of minimal shortages.  There's a whole story line here but I don't have time (nor the interest) to develop it.

Although the spike in the price of gasoline will be short-lived, perhaps two weeks at most, it does give economists, analysts, and talking heads data with regard to what Americas are willing or able to pay for their gasoline. It's an important data point.  [How prescient: five minutes after writing this, this report, that the spike is already easing: It will be interesting to see where this settles out. If the price of gasoline comes down far enough it will make it easier to pay those increased taxes the Californians vote on themselves.]

But as I've stated over and over, the Californians, and I assume most Americans, are content/satisfied with how things are going in the country right now. They are content/satisfied with how their elected leaders are doing. Most incumbents will be re-elected. I don't see any ground swell developing to throw anyone out. In fact, in California, they are so content/satisfied with how things are going, they are voting to increase taxes on themselves.

I have probably never felt so comfortable going into any election than I feel going into this election. Polling suggests four more years.

California: Shell-Shocked

Link to Bloomberg (posted earlier).
...“We’re really sort of shell-shocked,” said Tom Robinson, president of Santa Clara, California-based Robinson Oil Corp., which operates 34 Rotten Robbie convenience stores. “If you’ve been in California long enough, you know how volatile our market can be. But to see prices go up $1 a gallon since Monday -- I’ve never seen that before.”
A perfect storm? Efforts to move to renewables -- EPA mandates -- summer-to-winter gasoline formulation switching -- small refinery fires -- lack of flexibility.

On another note, same subject: some months ago I remember folks saying I was absolutely "off my rocker" (or words to that effect) to suggest that gasoline would go to $5.00 or even $6.00 by the end of the year.

Straight Talk On Revising Definition of the Stratigraphic Limits of the Bakken

Teegue weighs in and as usual, he is correct.

For those who don't know what we are talking about, check out NDIC docket cases 18853 - 18910 (October 2012)  in which CLR is requesting the stratigraphic limits of the Bakken Pool be redefined over much (most?) of the "Bakken."

This issue has gotten a few enquiring minds rattled, but Teegue cuts through the chatter (link above) and explains it.  When you go to the link, Teegue's comment was posted October 4 (it looks like Google Groups no longer put the time when a comment was posted; if it does, I missed it).

Teegue raises at least two other issues in that very well written comment: a) communication between the Three Forks and the Bakken; and, b) overlapping spacing units.

I'm in full agreement with his comments on overlapping spacing units. With regard to his comments on communication between Three Forks and the Bakken, I think folks on both sides of the debate are correct; they are talking past each other. The interesting thing is that this issue of "communication" is a red herring, just as the issue of flaring is a red herring.


Disclaimer: I am a layperson with no experience or background in the oil and gas industry. See my "welcome" and the disclaimer at the "welcome" post. Much of what I post about the Bakken is personal opinion based on my understanding of the oil and gas industry in North Dakota based on what I have read over the last few years. Even my "factual" data points can have typographical errors; if something doesn't seem right, it probably isn't.

The three issues discussed in this particular post are very contentious and "everyone" has an opinion. The above stand-alone post is my opinion. Do not use this opinion in your decision-making process when it comes to oil and gas contracts; do not use this opinion in your decision-making process when making investment decisions.

Because of the contentiousness of the issues above, for this particular post I won't publish "anonymous" comments nor comments without legitimate sources to back up the comment. And even then, it might not be posted. There are entire blogs for mineral rights owners where this issue can be discussed.


Some folks have asked why I would post something and then not "allow" comments. I direct them to the purpose of the blog which is stated in the "welcome." But again, I did not say I would "not allow" comments. At a minimum, I would not accept "anonymous" comments.

Update to the update

Someone pointed out that it's pretty much impossible to post non-anonymous comments on this site. That is accurate. What was I thinking? Let's just call the whole thing off. I'm moving on.

Moon River, Jerry Butler

Friday Morning Links

I used to separate topics with asterisks, but the formatting sometimes looked terrible (I also don't like the default font "blogger" seems to have switched to, but that's another story) so I've quit with the asterisks. Consider this a buffet of topics. I"ll use bold to help the reader.

I'm still impressed with the gusher reported by Oasis today, and all the Oasis wells in the Willow Creek oil field. But then I'm biased.

Active rigs: 189, holding steady.

BRK-B and XOM hitting new 52-week highs. CVX flirting with all-time highs. Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read at this site.

Periodically the WSJ features a current writer naming his/her five favorite writers. Today J.K. Rowling gets the chance to respond. Her response/her writing is as good as her choices. I can't cut and paste a portion of her response because it is so short, but it is really a hoot. Her top five: P.G. Wodehouse, Jane Austen, Colette and Charles Dickens. In passing she mentions a fifth, Emily Brontë, but I don't know if Emily was one of her favorites, of if she used a quote by Emily to make a point:
Wasn't it Emily Brontë who said [Jane Austen] had a mind like a small pair of scissors?
Wow, what a great metaphor. Google J.K. Rowling: my favorite writers. I've never read a Dickens novel completely to the end. I am fascinated by Colette but have read very little of her.

This will make my wife happy: a WSJ review of Elementary, a new CBS series with another re-make of Sherlock/Dr Watson. She tells me it's one of her favorite shows right now. Google Sherlock got sex appeal. But hasn't he always had sex appeal?

I don't know if folks have been following the problems American Airlines is having with their seats: they are coming loose (the seats, not American Airlines). After the first incident, which was discovered in flight, the airline has noted that a quarter of all "757's" inspected so far have problems with loose seats. How hard can it be to install seats in an airliner? I assume they do it in an air-conditioned hangar by well-trained and well-paid union workers. And then I think of roughnecks and geologists in the Bakken drilling down two miles, and then laterally two miles, in a seam 10 feet thick to hit oil. And being successful 99.99% of the time.  In comparison, how hard can it be to install a battery of seats in airliners? No link needed; the story is everywhere. --- American Airlines is blaming te loose seats on build-up of "gunk" -- coffee, soft drinks, candy, etc. I didn't read the story, just the headline -- sounds fishy to me to say the least. In a quarter of their inspected fleet? "Gunk?"

The Turkish-Syrian "war" is getting a fair amount of coverage in the WSJ. In addition, a very short editorial by the WSJ staff pretty much echoes what I wrote yesterday:
Turkey is also a NATO ally, which obliges the US to come to its aid of attacked.
Like that's gonna happen under no drama Obama. And Putin knows it. Google a Turkish-Syrian war.

Timing is interesting. The presidential debates focus on different subjects. The first one was on the economy. The new unemployment number came out a few days late. The tone of that first debate could have been entirely different. I assume the 2nd or 3rd debate will be on foreign affairs -- just as the Mideast seems to be spiraling out of control (again). Speaking of which, there's a great story in the WSJ, page A8: google west seizes on Iran's currency woes. This looks more and more like a country ready to implode: the question is whether the imams can prevent rioting in the street by a) getting rid of a mad man; and, b) convincing the west to remove sanctions. The west is moving toward total embargo. Like the Cuban embargo: begun in 1962, the Cuban embargo was expanded by Bill Clinton in 1990. Maybe this time it's different.

Apparently the riots in the Iranian streets are a pretty big deal. The worst thing Israel could do now is attack Iran which would end the riots as folks get into a war footing posture. The Israelis just need to let the country implode on its own.

Oh, this is a huge story. I first saw it at Carpe Diem: Caterpillar is going all in with natural gas.
“We have decided to go all-in on gas,” declared Feucht during his keynote address at HHP Summit on Sept. 27. 
”We are going to invest because we see a global market long term. Large engines are going gas. It’s not debatable; it’s our conclusion.” 
Feucht’s remarks confirmed that Caterpillar will provide natural gas fuel as an option for engines across its many high horsepower lines for marine, rail, mining, earthmoving and drilling operations. The company recently announced its first expected liquefied natural gas (LNG)-powered products will likely include Cat 793, 795 and 797 mining trucks , and locomotives.
It should be noted that Cat also has electric drive monster mining trucks. I still can't get "my hands around" (figuratively speaking) LNG-powered trucks but over time we will see how this plays out.

California gasoline prices jumped by 20 cents overnight. More stories of rationing distribution of gasoline in California.
Even Costco, the giant discount store chain that sells large volumes of gas, decided to close some stations, the Los Angeles Times reported.  
"We do not know when we will be resupplied," read a sign at one Southern California Costco, according to the Times. Other gas stations charged more than $5 a gallon. The Low-P station in Calabasas charged $5.69 Thursday. The pumps bore hand-written signs reading: "We are sorry, it is not our fault," the Times said.
Folks in California should be comforted by fact that the unemployment rate is plummeting, largest one-month drop since 2009. Californians will weather this spike in gasoline prices; they are content/satisfied: polling shows they overwhelmingly support four more years.

After all that hoopla to criminalize circumcision, the Germans will now legalize it. In the US, I don't know what physicians charge to perform this procedure, but 30 years ago or so, it was common to see a $50 or $100 fee attached to it. Pediatricians generally charged less; obstetricians generally charged more.

Willow Creek -- Another Hot Little Field


February 5, 2020: Willow Creek is getting active again

July 18, 2017: re-read this post when looking at production profiles of some of the early wells in Willow Creek.


36886, loc, Oasis, Cliff Federal
36885, loc, Oasis, Cliff Federal
36885, loc, Oasis, Cliff Federal
36883, loc, Oasis, Cliff Federal

2018 (list is complete)
34642, 1,874, CLR, Anderson .... 4H,
34641, 1,899, CLR, Anderson ... 4H1,
34625, 2,059, CLR, Anderson ... 4H,
34624, 1,740, CLR, Anderson ... 4H1,
34623, 1,640, CLR, Anderson ... 4H1,
34614, 1,666, CLR, Anderson ... 4H1,
34611, 1,387, CLR, Anderson ... 2H,
34504, PNC, CLR, Anderson
34441, PNC, CLR, Anderson

2017 (the list is complete)
34191, loc, Oasis,
34340, PNC, Oasis,
34339, loc, Oasis,
34338, loc, Oasis,
34337, PNC, Oasis,
34336, loc, Oasis,
34236, loc, Oasis,
34235, loc, Oasis,
34234, loc, Oasis,
34222, loc, Oasis,
34192, loc, Oasis,
34137, PNC, Oasis,,
34136, loc, Oasis,
34135, loc, Oasis,
34134, loc, Oasis,
34133, loc, Oasis,
34132, drl, Oasis,
34131, loc, Oasis,
34130, loc, Oasis,
34113, PNC, Oasis,
34112, loc, Oasis,
34111, PNC, Oasis,
34110, loc, Oasis,
34109, loc, Oasis,
34108, loc, Oasis,
34107, drl, Oasis,
33781, 743, Oasis, Crane Federal ... t7/18; cum 243K 12/19;
33780, PNC, Oasis,
33779, 281, Oasis, Crane Federal ... t7/18; cum 232K 12/19;
33778, 878, Oasis, Crane Federal ... t7/18; cum 132K 12/19;
33777, 998, Oasi, Crane Federal ... t7/18; cum 209K 12/19;
33754, 1,082, Oasis, Crane Federal ... t7/18; cum 246K 12/19;
33753, PNC, Oasis,
33752, 708, Oasis, Crane Federal ... t7/18; cum 179K 12/19;
33751, PNC, Oasis,
33750, PNC, Oasis,
33749, 1,521, Oasis, Crane Federal ... t7/18; cum 225K 12/19;


31987, 1,063, Oasis, Hanover Federal 5300 41-11 13TX, Willow Creek, t4/18; cum 105K 8/18;
31604, PNC, Oasis, nice well, producing as of 5/18;
31603, PNC, Oasis,
31602, PNC, Oasis,
31601, PNC, Oasis,
31265, 851, Oasis, Kjorstad ... t6/18; cum 150K 12/19;
31264, 915, Oasis, Kjorstad ... t6/18; cum 171K 12/19;
31263, PNC, Oasis,
31262, PNC, Oasis,
31261, 767, Oasis, Kjorstad ... t5/18; cum 154K 12/19;
31260, 392, Oasis, Kjorstad ... t2/19; cum 228K 12/19;
31259, 415, Oasis, Kjorstad ... t5/18; cum 114K 12/19;
30482, 870, Oasis, Cook 5300 12-13 6B, t2/17; cum 250K 12/19;
30392, 2,112, Oasis, Hanover Federal 5300 13-14 7T, t5/17; cum 173K 12/19;

30170, PNC, Oasis,
30169, 1,155, Oasis, Cook 5300 41-12 11T, t6/17; cum 166K 8/18;
28701, 480, Oasis, Cook Federal 5300 41-12 10BX, 4 sections, t6/17; cum 221K 8/18;
28527, 1,140, CLR, Anderson 3-4H, Willow Creek, t11/14; cum 315K 8/18;
28526, 746, CLR, Anderson 2-4H1, Willow Creek, t10/14; cum 255K 8/18;
28340, 459, Oasis, Hanover Federal 5300 41-11 10B, t3/18; cum 108K 8/18;
28339, 853, Oasis, Hanover Federal 5300 41-11 11T, t4/18; cum 109K 8/18;
28309, 797, Oasis, Hanover Federal 5300 42-11 9T, t4/18; cum 90K 8/18;
28308, 1,185, Oasis, Hanover Federal 5300 42-11 8B, t3/18; cum 108K 8/18;
28307, 322, Oasis, Hanover Federal ... t4/18; cum 103K 12/19;

27354, 606, Oasis, Cook 5300 12-13 9T, t7/17; cum 162K 8/18;
27353, TA, Oasis
27352, 268, Oasis, Cook 5300 12-13 7T, t6/17; cum 136K 8/18;
27079, 422, Oasis, Hanover Federal 5300 44-11 5T, t5/17; cum 157K 8/18;
27078, 467, Oasis, Hanover Federal 5300 44-11 4B, t5/17; cum 201K 8/18;
26976, 532, Oasis, Hanover Federal 5300 44-11 3T, t5/17; cum 153K 8/18;
26975, 856, Oasis, Hanover Federal 5300 44-11 2B, t5/17; cum 207K 8/18;
26912, PNC, Oasis,
25763, dry, Oasis,Cornette SWD 5300 34-26;
25339, 3,170, Oasis, Gene Zumhof 5300 11-23T, t8/13; cum 175K 8/18;
25221, 2,074, Oasis, Aspen Federal 5300 24-15B, t2/14; cum 206K 8/18;
25220, 1,587, Oasis, Birch Federal 5300 24-15T, t2/14; cum 159K 8/18;
25169, 1,088, Oasis, Hanover Federal 5300 41-11 12B, t4/18; cum 101K 8/18;
24927, 1,760, Oasis, Wayne Zumhof Federal 5300 44-15T, t1/14; cum 169K 8/18;
24907, PNC, Oasis
24707, 1,811, Oasis, Paul S 5300 13-13T, t10/13; cum 185K 8/18;
24706, 2,062, Oasis, Kristie 5300 13-13B, t10/13; cum 203K 8/18;

24632, 1,880, Oasis, Oreo Federal 5300 24-25T, t10/13; cum 210K 8/18;
24631, 2,514, Oasis, Cookie Federal 5300 24-25B, t10/13; cum 249K 8/18;
24630, 2,737, Oasis, Ordean Federal 5300 24-25T, t10/13; cum 234K 8/18;
24227, 3,318, Oasis, Nellie John Federal 5300 13-25B, t10/13; cum 189K 8/18;
24226, 3,049, Oasis, Neva Federal 5300-14-25T, t10/13; cum 223K 8/18;
24146, 2,911, Oasis, Power Federal 5300 14-15B, t1/14; cum 236K 8/18;
23531, 1,597, Oasis, K A Sutton Federal 5300 24-15T, t3/13; cum 192K 8/18;
23018, 2,559, Oasis, Andy 5300 44-12T, t2/13; cum 223K 8/18;
23017, 4,174, Oasis, Ashlin 5300 44-12B, t2/13; cum 301K 8/18;

Original Post
Oasis reports a gusher in Willow Creek:
  • 21902, 4,059, Oasis, Wren Federal 5300 41-26H, Willow Creek, t5/12; cum 318K 12/19; 36 stages; 4.5 million pounds total; 1.85 sand; 2.66 ceramic; 64 hours to kick-off point; 21 hours for the curve; February 15 --> TD on March 6, 2012 (19 days); Ratcliffe Interval (shallow to the Mission Canyon): "can contain a significant amount of oil and gas.."); early in the lateral in the middle Bakken, 400 - 2,000 units background gas; then in excess of 2,200 with shows up to 6,400 units; constant flare 2 feet to 12 feet in height; however the flare did reach 30 feet in height with an 8,500 unit hydrocarbon show; some drilling challenges delayed reaching TD; 
It's unlikely very many folks got to see this flare; the well is fairly remote -- it would be hard to get to for the average person.

Willow Creek is right in there, with several other oil fields in one of the best sweet spots in the Bakken: northeast McKenzie County. Most of Willow Creek is in Williams County, north/east of the river, but there are a couple of sections in McKenzie County, under the river. This is a relatively small field, 16, sections, and pretty much owned by Oasis. The Wren Federal is in Williams County, straight north of Camp and northeast of Banks, two of the better fields in this area. [Update, October 4, 2018: now has 22.25 sections, it appears.]

Activity in this field relevant to this boom:
  • 19030, 2,707, Oasis, Kjorstad 5300 24-22H, t10/10; cum 256K 8/18;
  • 19639, 2,414, Oasis, Cook 5300 42-12H, t9/11; cum 414K 8/18; taken off-line 2/17; back on line 6/17; nice jump in production;
  • 19939, 839, Oasis, Carriere 5300 4-15H, t8/11; cum 243K 8/18;
  • 20387, 1,445, Oasis, Hanover Federal 5300 13-14H, t10/11; cum 408K 8/18; see this post;
  • 20872, 3,694, Oasis, Borden Federal 5300 24-34H, t9/11; cum 332K 8/18;
  • 21388, 267, Oasis, Fraser Federal 5300 24-34H, t3/12; cum 283K 8/18;
  • 21670, 923, CLR, Anderson 1-4H, t6/12; cum 284K 8/18; interesting production profile here;
  • 21902, 4,509, Oasis, Wren Federal 5300 41-26H, t5/12; cum 296K 8/18;
  • 21903, 873, Oasis, Crane Federal 5300 41-26H, t5/12; cum 280K 8/18;
  • 22088, 2,530, Oasis, Dubuque 5300 14-22B, t9/12; cum 200K 8/18; small production jump 5/17;
  • 23017, see above, Oasis, Ashlin 5300 44-12B, off-line, 1/17; cum 301K 8/18;
  • 23018, see above, Oasis, Andy 5300 44-12T, off-line 1/17; t2/13; cum 223K 8/18;
  • 23531, see above, Oasis, K A Sutton Federal 5300 24-15T, t3/13; cum 192K 8/18;
The most incredible thing about this field: as of October, 2012, there has not been much activity in this field. 

7.8! And That's Not All: Oasis Reports a Gusher!

Remember: the magic number is 200,000.

Happy days are here again! 7.8 percent unemployment. Remember the magic number is 200,000. The number of new jobs added was only 114,000. With lackluster number of new jobs, and precipitous drop in "percent," it doesn't take a rocket scientist to sort this out. Fortunately 47% of folks don't read newspapers any more.

Results of wells coming off confidential list today have been reported. See also: sidebar at the right. At the top.

Oasis reports several good wells, including a gusher.
  • 21902, 4,059, Oasis, Wren Federal 5300 41-26H, Willow Creek, t5/12; cum 65K 8/12;