Thursday, June 7, 2018

Random Happenings In The Bakken -- June 7, 2018 -- Off The Net For Awhile

This well was recently re-fracked: full update at this post --
  • 18991, 1,053, QEP, MHA 1-19H-150-90, Deep Water Creek Bay, t9/10; cum 272K 4/18;
This well just went off line:
  • 19105, 558, Oasis/Zenergy, Aune 32-29H, Wildcat/Eightmile, Bakken, southwest of Williston, north/west side of the river, t11/10;  just went off line 4/18; nothing going on in this area; no sundry reform;
This well recently came back on line and shows very slight jump in production:
  • 18679, 1,371, CLR, Medicine Hole 2-27H, Jim Creek, Bakken; t7/10; cum 195K 4/18; nothing go on in this area; neighboring well on line all this time; Medicine Hole wells are poor wells; no sundry form to explain slight jump in production; FracFocus negative;
This well was just taken off line (4/18):
  • 18365, 1,379, EOG, Liberty 8-01H, Van Hook, Bakken; t7/10; cum 334K 4/18; far to the south, EOG has three wells on DRL status and they will run parallel to #18365;
This well was just taken off line (4/18):
  • 17918, 2,166, Newfield, Clear Creek Federal 1-26H, Bakken; t8/10; cum 138K 2/18; nothing going on in this area; maybe being re-worked;

The Road To Venezuela 

June 11, 2018: I don't know the ins and outs of force majeure, but what little I understand about the term, Venezuela's woes do not qualify. Venezuela's problem was simply mismanagement. I think their customers will see it the same way. I'm disappointed CNBC hasn't discussed it. Whatever. Three more links to bring us up to date:
Original Post

This story is being tracked here. And as far back as 2015.

June 7, 2018; 24 million bbl backlog; Venezuela's fate looks very, very bleak. From the linked article:
Dozens of tankers waiting to load over 24 million barrels of Venezuelan crude are sitting at the country’s main oil export terminal, with the loading delays at almost a month, Reuters reports, citing shipping data. This could put the company in breach of its oil supply contracts with refiners such as Valero and oil majors such as Chevron and China’s CNPC.
Let's put that 24 million bbls in perspective:

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