Tuesday, October 31, 2017

Six Producing Wells (DUCs) Reported As Completed -- October 31, 2017

Active rigs:

$54.5810/31/201710/31/201610/31/201510/31/201410/31/2013
Active Rigs533470193180

Five new permits:
  • Operator: Oasis (4); Whiting
  • Field: Banks (McKenzie); Willow Creek (Williams); Stockyard Creek (Williams)
  • Comments:
Two permits renewed:
  • Whiting: two Faiman permits in Dun County
Six producing wells (DUCs) reported as completed:
  • 28000, 1,108, CLR, Jersey 6-6H1, Alkali Creek, t10/17; cum --
  • 28001, 1,564, CLR, Jersey 5-6H, Alkali Creek, t10/17; cum --
  • 30378, 647, Statoil, East Fork 32-29 7H, East Fork, t9/17; cum --
  • 33507, 560, Lime Rock Resources III-A, L.P. State 5-25-36H-144-97, Cabernet, t8/17; cum 13K 9/17;
  • 33508, 704, Lime Rock Resources III-A, L.P. State 6-25-36H-144-97, Cabernet, t8/17; cum 14K 9/17;
  • 33788, 172, Lime Rock Resources III-A, L.P. Ward Hill 20-29-1H-160-90, Dimond, t10/17; cum --
*********************************
Happy Halloween

Painting by Sophia one year ago, when she was two years old.

The Political Page, T+283 -- October 31, 2017

Updates

November 1, 2017: from President Trump this morning, via Twitter -- The terrorist came into our country through what is called the "Diversity Visa Lottery Program," a Chuck Schumer beauty. I want merit based. 

Original Post
 
It is amazing how fast CNBC is calling the most recent incident in downtown NYC a "terrorist" event. Less than an hour or two old and they are already calling it a "terrorist" event. Ah, yes, yelling "allahu, akbar." Six killed; more injured. Hopefully, he/she did not recently fly in from a country that President Trump wanted to put on the no-entry list but "vetoed" by a west coast / Hawaiian judge. The "person of interest" is a Uzbek national here on a "diversity visa." The "diversity visa" program was begun in 1990, the brainchild of the senior senator of New York, Senator Chuck Schumer. It's lottery program -- folks from around the world apply on-line and then are selected via  lottery. Apparently, this "person of interest" came over nine years ago, but apparently there is no process or requirement for returning them to their home country. They get a "green card" and can stay in the US indefinitely.

*************************************
Patriotism

These folks STAND for the US national anthem, and they don't even live here:

This must have made the Yahoo!Finance editors very uncomfortable posting:



The Trump Economy Page (With A Little Politics Thrown In), T+283 -- October 31, 2017

A screenshot we would not have seen during a Hillary presidency:

***********************************
Wow, On A Completely Different Note

... I just posted a comment at a story regarding Kevin Spacey, and now Rush Limbaugh begins his third hour with a monologue on Kevin Spacey. At same time that Netflix has suspended production of "House of Cards." Love it. [Update, November 4, 2017: Kevin Spacey is in "free fall." Everybody has abandoned him. I thought Harvey Weinstein fell fast; with Kevin's fall, I have to re-calibrate the "plummet meter."]

**********************
Solar 

First Solar plunging.

**************************
Sin City

I loved "Sin City" (Quentin Tarantino) but Rush Limbaugh is exactly right -- how Hollywood portrays African-Americans and women. With regard to Harvey Weinstein, note the "anxious" laugh track.


The Hess EN-Pederson Wells In Alkali Creek

We talked about the EN-Pederson wells earlier. This is their current status (the usual disclaimer applies):

File #
Location

Operator
Name
Field
IP
Cum
Latest
32032
SESW 33-155-94
11/19/2016
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON- LW-154-94-0408H-8
ALKALI CREEK
486
44,336
2,902
32031
SESW 33-155-94
2/17/2016
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON- LW-154-94-0408H-7
ALKALI CREEK
1,275
190,483
2,863
32030
SESW 33-155-94
2/11/2016
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON- LW-154-94-0408H-6
ALKALI CREEK
917
97,069
2,416
32029
SESW 33-155-94
2/5/2016
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON- LW-154-94-0408H-5
ALKALI CREEK
A
178,197
5,590
27683
SESW 33-155-94
12/29/2014
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON-LW- 154-94-0408H-4
ALKALI CREEK
1,270
99,812
3,099
27682
SESW 33-155-94
12/19/2014
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON-LW- 154-94-0408H-3
ALKALI CREEK
1,183
162,238
2,206
27681
SESW 33-155-94
12/10/2014
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON-LW- 154-94-0408H-2
ALKALI CREEK
892
135,462
1,380
27680
SESW 33-155-94
12/1/2014
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON-LW- 154-94-0408H-1
ALKALI CREEK
1,110
176,285
2,072
23448
LOT1 4-154-94
12/25/2012
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON 154-94-0409H-2
ALKALI CREEK
792
176,995
1,415
23447
LOT1 4-154-94
12/31/2012
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON 154-94-0409H-3
ALKALI CREEK
829
190,589
1,597
23446
LOT1 4-154-94
7/12/2013
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON 154-94-0409H-4
ALKALI CREEK
1,164
209,931
1,810
23445
LOT1 4-154-94
7/27/2013
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON 154-94-0409H-5
ALKALI CREEK
1,127
203,050
2,112
23444
LOT1 4-154-94
10/2/2012
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON 154-94-0409H-6
ALKALI CREEK
PNC


17099
LOT 1 4-154-94
7/16/2008
HESS BAKKEN INVESTMENTS II, LLC
EN-PEDERSON-154-94- 0409H-1
ALKALI CREEK
355
156,116
922

The graphic:



Saudi Arabia Will Need $70-Oil To Balance Budget Next Year, The Energy And Market Page, T+283 -- October 31, 2017

Saudi Arabia needs $70-oil to balance budget next year. The kingdom needed $73-oil this year to balance budget (link to document).

From John Kemp, via Twitter:


Petra Nova: update at this post will take you to the story.

Number Of Active Rigs In ND Down To 51 -- October 31, 2017

Active rigs:

$54.1210/31/201710/31/201610/31/201510/31/201410/31/2013
Active Rigs513470193180

RBN Energy: Marcellus/Utica natural gas production breaking records again.
A year ago, Lower-48 natural gas production was in steep decline and averaging less than 71 Bcf/d by the fall, down from nearly 74 Bcf/d in February 2016. The oil-price crash of 2014 had taken a toll on gas output, led by a drop in Texas. To add to that, Marcellus/Utica gas supply — which had helped prop up overall domestic gas production volumes — was no longer growing enough to offset those losses. The resulting decline in Lower-48 production helped to correct a huge storage imbalance that had developed in the market following the brutally mild winter of 2015-16.
That’s a far different picture than what’s happened in 2017. Gas production began this year below 70 Bcf/d, but has climbed to more than 74 Bcf/d in the past couple of months. And just last Thursday (October 26), production set a new record of 75.7 Bcf/d, exceeding the previous single-day record of 75.1 Bcf/d set in April 2015.
Several of the major supply basins are contributing to that uptick, but Marcellus/Utica gas production is again leading the pack. Today, we check in on Northeast gas production using pipeline flow data. 

When we last looked into Northeast gas production using pipeline flow data in our April 2017 blog Unchain My Heart, the region was contending with high storage levels, insufficient demand and an overall low price environment — all the bearish effects of two consecutive mild winter seasons. Under those conditions, supply growth in the region had become downright sluggish. But that’s all changed in recent months. Rigs have returned to the region, activity has picked up and so has output. Today, we return to the same daily pipeline flow data from our friends at Genscape to see the latest trends in Northeast production.
*********************************
Other Energy News

Natural gas: world demand growing; grew by 2% in 2016. From Rigzone Data points:
  • Europe: +5.4%
  • Asia-Pacific: +5.1%
  • production grew by 0.7% despite an output decline of 3.2%in the US, the world's largest producer of natural gas
  • Russia: resumed output growth
  • world gas reserves increased by 0.9%; driven by US, Nigeria, and Iraq
  • Russia still leads as the top holder of gas reserves; holds 25% of world's total
Bullish on WTI -- Boston Energy Research. Data points:
  • WTI to remain stable around $53 through mid-2018
  • the glut through 2018 is likely to persist, posting a temporary downside risk to oil prices
  • rate of growth in the Permian to decrease
Increasingly closer spacing of wells to drain reservoirs may result in a reduction in productivity of later infill wells by as much as 20 to 30 percent compared to the productivity of initial wells drilled. A much lower near-term peak in Permian production would result as sweet spots are depleted. Still, technology is a wild card that could offset the negatives.
Pioneer Natural Resources, a leading producer in the Midland sub basin, believes “$50 oil isn’t going to get it done,” because it doesn’t generate enough cash flow and the industry has too much debt. “U.S. production may grow for 2 to 3 years and a few independents may grow, but we are in a $60 long term price environment,” the company said in a recent release.
***************************************
Need Confirmation From Other Sources ...

 .... but it's being reported that there was a major nuclear-related mishap in North Korea recently.

*****************************
The Daily Commute

Monday, October 30, 2017

The WPX Emma Owner Wells In Spotted Horn -- Almost Everything One Can See In The Bakken

Updates

January 6, 2019: see also the Lead Woman wells in the area to come off the confidential list soon. The "Lead Woman" wells are noted in the graphic below.

Original Post
The Emma Owner wells:
  • 30666, 2,553, WPX. Emma Owner 23-14HA,  Spotted Horn, 4 sections, t3/16; cum 502K 1/19; slow, slow Bakken decline;
  • 29449, 2,049, WPX, Emma Owner 23-14HW, Spotted Horn, t3/16; cum 332K 1/19; only 16 days in 1/19;
  • 29448, 1,986, WPX, Emma Owner 23-14HD, Spotted Horn, t3/16; cum 399K 1/19;
  • 29447, 1,690, WPX, Emma Owner 23-14HC, Spotted Horn, t3/16; cum 371K 1/19;
  • 29446, 1,871, WPX, Emma Owner 23-14HX, Spotted Horn, t3/16; cum 388K 1/19;
  • 29445, 2,441, WPX, Emma Owner 34-14HB, Spotted Horn, t3/16; cum 457K 1/19;
Look at initial production for #29445:

BAKKEN7-20163122259224591249630094728920186
BAKKEN6-20163028436286941502823678156654719
BAKKEN5-20163131213309841637928439170967761
BAKKEN4-201630396914003023330400691141824195
BAKKEN3-20163162102615283966356204763941700
BAKKEN2-2016312601104711215700

The graphic:


Look at Nathan Hale, #17978:
  • 17978, 993, WPX, Nathan Hale 4-25H, Spotted Horn, t1/10; cum 359K 8/18; no evidence that this well was re-fracked (no sundry form; no FracFocus data)
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2018231233212543203917767163270
BAKKEN7-2018311610516005244419438158981654
BAKKEN6-2018302658926639555732093235055274
BAKKEN5-2018318377817149141011261172116
BAKKEN4-20181822432216289627079821291
BAKKEN3-201825657667614828793746122386
BAKKEN2-2018231713917228604820688116846583
BAKKEN1-2018221431714981687217280103244721
BAKKEN12-201731227542203411469274641053513741
BAKKEN11-20172819318191461859723316156818995
BAKKEN10-20175923931310111426914
BAKKEN9-20172911551079192139461084
BAKKEN8-20171136235710243911469
BAKKEN7-201729123012481641484336252
BAKKEN6-2017301343144616716220731
BAKKEN5-201731121812821581469483


Monster Wells -- Generation 3 Wells -- October 30, 2017

 Pads:
Individual wells:
  • 31278, 4,862, Slawson, Torpedo Federal 10H, Big Bend, t12/18; cum 178K in 41 days; TD: 25,490 feet; see this post;
  • 34037, 1,787, Oasis, Aagvik 5298 41-35 3BX, 50 stages; 9.9 million bls; Banks, t11/18; cum 219K 3/19; 
  • 30866, 1,486, Enerplus, Barn 147-94-13A-24H, McGregory Buttes, t5/16; cum 331K 9/18;
  • 30135, 4,881, MRO, Deane USA 24-22H, Antelope, Sanish, t12/17; cum 261K 9/18; (and I'm sure the first full month of production (73,138 bbls crude oil; 111,373 mcf natural gas) is incorrect 111,373 mcf = 18,556 boe + 73,138 bo = 91,693 boe in one full month, clearly a Bakken record, and clearly an error that will be corrected; see this post for several other monster wells on same pad;
  • 19296, 2,388, SHD, Golden 22-31H, Deep Water Creek Bay, TF Bench 1, 62 stages, 15 million lbs, t3/15; cum 6273K 9/18;
*******************************
Record IPs and/or Record Monthly Production

30135, 4,881, MRO, Deane USA 24-22H, Antelope, t12/17; cum 261K 9/18:
SANISH1-2018317313873190172411113731878384433

30541, 4,871, Bruin, Fort Berthold 151-94-26A-35-4H, t6/18; cum 292K 9/18:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH9-20183052975530445615060629460675677
SANISH8-201831725167240863718906714548039524
SANISH7-201831638006364674543906084289342889
SANISH6-201830953159595967134672113723225562
SANISH5-20181577996657261691392175723178
SANISH4-20180000000