Thursday, December 25, 2014

Several "Huge IP" Wells Coming Off The Confidential List Christmas Day And Boxing Day, December 25, 2014

As you go through the list below, think about this. Most of these wells were drilled six months ago, back in June, 2014. We still have July, August, September, and October, and probably November, and December (of 2014), to get through before the current slump in oil prices starting affecting things. Spread this observation across all the unconventional shale across the US and one can see the glut of oil isn't likely to slow down quickly. [It turns out this was said back on December 9, 2014:
It will take six months or so to whittle away the 1m barrels a day of excess oil on the market – with US crude falling to $50 - given that supply and demand are both “inelastic” in the short-run.]
I know I'm not saying that correctly, but hopefully you get the point. Mixing metaphors, I suppose: there are at least a year's worth of wells in the Bakken pipeline yet to come on line. Peak oil? LOL.

Richard Zeits talks about the "myth" of the oil glut, but RBN Energy suggests "we're" already maxing out with regard to storage sites in North America.

The wells reported here do not represent the response to the slump in oil prices; way too early to see that response.

Note the amount of proppant EOG used in that Wayzetta middle Bakken well, and also note the amount of proppant CLR is using.

Friday, December 26, 2014:
  • 25747, 915, EOG, Wayzetta 29-1424H, Parshall, 43 stages; 13.6 million lbs sand; conditioning unit on site, s10/19; TD10/31, middle Bakken, 1920 acres, t4/14; cum 138K 11/14; 
  • 27144, 2,256, QEP, Kirkland 2-23-14TH, Grail, t9/14; cum 57K 11/14; 
  • 27145, 2,213, QEP, Kirkland 4-23-14BH, Grail, t9/14; cum 62K 11/14; 
  • 27146, 2,172, QEP, Kirkland 3-23-14BH, Grail, t9/14; cum 63K 11/14; 
  • 27430, 930, WPX, Roggenbuck 4-9HW, Van Hook, t11/14; cum --  
  • 27705, 2,163, QEP, Kirkland 22-15-23-14LL, Grail, t9/14; cum 72K 11/14; 
  • 27791, 2,096, QEP, TAT 1-33-28BH, Grail, t8/14; cum 70K 11/14;
  • 27792, 1,664, QEP, TAT 2-33-28-BH, Grail, t8/14 cum 64K 11/14; 
  • 27816, drl, QEP, TAT 33-28-34-27LL, Grail, s4/14; cum 63K 11/14; 
  • 28084, drl, CLR, Holte 2-32H, Stoneview, no production data 
  • 28099, drl, Hess, EN-Dobrovolny A-155-94-2413H-7, Manitou, no production data, 
  • 28157, drl, MRO, Snow Bird USA 31-17TFH, Van Hook, no production data, 
  • 28501, 370, Hunt, Alexandria 161-100-22-15H-1, Alexandria, t9/14; cum 11K 11/14;  
Thursday, December 25, 2014
  • 26889, 704, Oasis, Brier 5200 44-22 4T2, Camp, t6/14; cum 37K 11/14; interesting production profile; 
  • 27632, 514, OXY USA, Kary 3-24-13H-144-97, Cabernet, t6/14; cum 47K 11/14; interesting production profile;
  •  27633, 519, OXY USA, Kary 4-24-13H-144-97, Cabernet, t6/14; cum 50K 11/14; interesting production profile; 
  • 27941, drl, Hess, GN-Cambrian-159-98-2536H-2, Big Stone, no production data, 
  • 28042, drl, SM Energy, Torgeson 2-15HS, West Ambrose, no production data, 
  • 28085, drl, CLR, Holte 3-32H1, Stoneveiw, no production data, 
  • 28098, drl, Hess, EN-Dobrovolny A-155-94-2413H-6, Manitou, no production data, 28238, 838, MRO, Hollingsworth 24-22TFH, Chimney Butte, t9/14; cum 17K 10/14; 
  • 28357, drl, MRO, Davis 24-22H, Bailey, no production data, 28405, 980, CLR, Harrisburg 1-34H, Indian Hill, t10/14; cum 23K 10/14;  
  • 28599, conf, Oasis, Chalmers 5301 44-24 3BR, Baker, no production data, 
*************************************

25747, see above, EOG, Wayzetta 29-1424H, Parshall

DateOil RunsMCF Sold
10-2014101203848
9-20143431806
8-2014225613675
7-201426547842
6-2014264693736

27144, see above, QEP, Kirkland 2-23-14TH, Grail:

DateOil RunsMCF Sold
11-20141733413108
10-20142169120544
9-2014181149268

 27145, see above, QEP, Kirkland 4-23-14BH, Grail:

DateOil RunsMCF Sold
11-20141723814001
10-20142071920893
9-20142351212778

27146, see above, QEP, Kirkland 3-23-14BH, Grail:

DateOil RunsMCF Sold
11-20141854915021
10-20142216624302
9-20142161611244

27705, see above, QEP, Kirkland 22-15-23-14LL, Grail:

DateOil RunsMCF Sold
11-20142128526443
10-20142479828261
9-2014255367381

27791, see above, QEP, TAT 1-33-28BH, Grail:

DateOil RunsMCF Sold
11-2014114855444
10-20141665817090
9-2014247347703
8-2014171825184

27792, see above, QEP, TAT 2-33-28-BH, Grail:

DateOil RunsMCF Sold
11-2014160428454
10-20142198224637
9-2014187165753
8-201469333269

27816, see above, QEP, TAT 33-28-34-27LL, Grail:

DateOil RunsMCF Sold
11-201476651574
10-20141616428072
9-2014281232809
8-2014111780

Merry Christmas, 2014 --

I wouldn't think I would have time to post something on Christmas morning, but there seems to be 90 seconds of free time between breakfast with out-of-town guests and opening gifts. Oh, add 20 seconds. The wifely unit just said she was going to make more coffee.

I will come back to this article later, but it's pretty good -- at least I thought it was when I read it last night after a reader sent it to me. The New York Times is reporting that oil's swift fall raises US fortunes abroad. It begins:
BRUSSELS — A plunge in oil prices has sent tremors through the global political and economic order, setting off an abrupt shift in fortunes that has bolstered the interests of the United States and pushed several big oil-exporting nations — particularly those hostile to the West, like Russia, Iran and Venezuela — to the brink of financial crisis.
The nearly 50 percent decline in oil prices since June has had the most conspicuous impact on the Russian economy and President Vladimir V. Putin. The former finance minister Aleksei L. Kudrin, a longtime friend of Mr. Putin’s, warned this week of a “full-blown economic crisis” and called for better relations with Europe and the United States.
****************************
Efforts To Improve Infrastructure Funding In Oil Patch On The Docket

The AP is reporting:
Relief could be on the horizon for strapped public services in the Northern Plains' booming oil patch, as elected leaders in Montana and North Dakota move to steer more money into the region during the states' upcoming legislative sessions.
Most drilling for oil and gas is in North Dakota. Yet the population growth from the boom has spilled over the border, and both states face rising pressures on infrastructure that are taxing the ability of local governments to keep pace.
In North Dakota, Gov. Jack Dalrymple is proposing to change the formula for oil and gas tax distributions so local governments get 60 percent, up from the current 25 percent.
****************************
Humor For The Day

Germans have welcomed solar panels glinting on their rooftops and windmills looming over their fields, and they have even put up with a doubling of their electric bills. But enthusiasm for all things green appears to have reached a limit with a plan to string high-voltage transmission lines along the outskirts of cities like Fulda in the center of the country.
Dozens of protest groups have sprung up over the past year along the 500-mile path of the project, SuedLink, one of four high-voltage direct current lines that are to carry wind-generated power from north to south.
Businesses have been wary of the growing costs that the policies have imposed on them, but citizens have been largely stoic. They have protested when the government seemed to waver in its commitment, even as the cost of power for an average family of three has climbed to 85 euros a month, about $103, from 41 euros since 2000, according to government statistics.
“I have been following energy policy for 30 years and have gone along with everything,” said Mr. Lange, a self-employed music teacher from Fulda’s eastern K√§mmerzell district. “The moment that I heard they wanted to build this behind my house, I thought, enough!”