Saturday, September 15, 2018

Week 37: September 9, 2018 -- September 15, 2018

July, 2018, oil and natural gas data for North Dakota: four new all-time records set.
  • crude oil production; sets an all-time record and jumps 3.4% month-over-month
  • natural gas production: sets an all-time record, and even out-producing the largest gas field in the Mediterranean; in the Bakken, natural gas is an irritating and dangerous by-product
  • boepd production: sets an all-time record
  • number of producing wells in North Dakota: despite a quarter of the number of active rigs in July compared to the height of the boom, North Dakota has more producing wells than ever
  • other notes of interest:
    • there are still about 900 DUCs -- wells that have been drilled to depth but for some reason or another, the oil company has decided to postpone completion of the well -- many, many reasons will be given, but I consider the companies simply "managing their assets"
    • the number of inactive wells actually increased slightly month-over-month -- this is also not unexpected in Bakken 2.5
US economy: setting all-time records; small business optimism breaks all-time break; exceeds that seen during the Reagan administration; Trump economy making Connecticut great again;

  • Saudi Arabia: internal bickering likely scuttled the Aramco IPO once and for all (it would have died regardless); will focus on petrochemical dynasty
  • Global warming: NASA confirms that 410 is the "Goldilocks" number: CO2 greening the earth; Africa a beneficiary of the phenomenon
Back to the Bakken

Record IP in the Bakken?
CLR's Mountain Gap wells simply amazing; updated earlier;
Jump in production; and, here;
EOG well hits one-million-bbl threshold; and, another one here;
New activity regarding the CLR Whitman wells?

Bakken 2.5
Re-fracking: MRO in the Bailey  


Worsens in North Dakota; NDIC authorizes a study to consider underground storage of NG

Natural gas processing:
ONEOK looking at the biggest plant yet?

Other formations
White Rock Oil & Gas re-enters, re-completes an old Duperow well
Random update of an old, old CLR North Red River B well
Targeting the Madison

Administrative judge opines the "refinery near the park" can go forward

Bakken economy (link here)
Multi-family housing (apartment units, 4-plexes, duplexes) reach capacity in Williston
United Airlines will add a fourth daily Denver-to-Williston flight
Williston school districts enrollments continue to climb
Two new veterinarians set up practice in Watford City

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