Friday, November 30, 2018

Solar Externality Leads To Temporary Coolling Trend -- The Market, Energy, And Political Page, T+24 -- November 30, 2018

One way to raise the price of oil: shut down the Trans-Alaska Pipeline. Of course, the greatest effect will be felt on the west coast where oil / gasoline prices are already much higher that those in the rest of the US. The pipeline is closed a precaution after a 7.0 magnitude earthquake. The pipeline moves an average of 500K bopd.

WTI after the pipeline shutdown announcement: drops 82 cents (1.6%); now trading at $50.63.

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How Many Times Have We Seen This Movie?

Wanting to know when funding runs out this time, I googled government funding runs out when -- this was the screenshot of the results, first page, first hits:

By the way, the answer: December 7, 2018, and other than Homeland Security not much else is affected. Clever how US Congress managed that.

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Externalities

And this is why the UN had to include this summary paragraph, the last paragraph in the IPCC Third Assessment Report, Chapter 14, Section 14.2.2.2:

“In sum, a strategy must recognize what is possible. In climate research and modelling, we should recognize that we are dealing with a coupled non-linear chaotic system, and therefore that the long-term prediction of future climate states is not possible.
From earlier this year, a real externality, not an economic/man-made externality:


A huge "thank you" to a reader to introducing me to "externalities," a concept of which I was heretofore unfamiliar.

New Williston Airport Terminal -- 360-Degree View -- November 30, 2018

Link here.

XWA. 

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Only One New Permit Released Today -- November 30, 2018

Active rigs:

$50.6311/30/201811/30/201711/30/201611/30/201511/30/2014
Active Rigs66543965185

Only one new permit:
  • Operator: Bruin
  • Field: Marmon (Williams)
  • Comments:
Fourteen permits renewed:
  • Whiting (5): two Niemitalo permits; two Olson permits, and one Periot permit, all in Williams County
  • Oasis (3): one Barron permit, Burke County; and, two Borden Federal permits, both in Williams County
  • EOG (3): two Austin permits, Mountrail County; and, one Clarks Creek permit in McKenzie County
  • XTO; a Janice permit in Williams (hopefully named after one of my childhood sweethearts)
  • Newfield: a Sorenson Federal permit in McKenzie County
  • NP Resources: a Mosser Federal permit in Billings County
Three producing wells (DUCs) reported as completed:
  • 34276, 1,385, Whiting, Thomas 13-3TFH, Truax, t10/18; cum 7K after 11 days;
  • 33283, 609, Whiting, Talkington 21-30-2PH, Bell, t10/18; cum 7K after 17 days;
  • 33282, 788, Whiting, Talkington 21-30-1PH, Bell, t10/18; cum 10K after 24 days;
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Comment

Over the years, especially during the early days of the boom, "we" were told that by experts that the kind of results seen in the Talkington wells above were "not economic." Hold that thought.

The Bakken, now, is so incredibly predictable, operators know exactly what they will "get" in any given well in the Bakken before drilling. Scroll down the lists of "new wells reporting" (linked at the sidebar at the top right) and dare to suggest that I am wrong.

And, Whiting continues to drill these "non-economic" wells.

Several years ago, Whiting suggested they could "make money" on $21-oil.

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The Movie Page 

Executive Action tonight on TCM. Incredible.  

One of my top shelf books: Reclaiming History: The Assassination of President John F. Kennedy, Vincent Bugliosi, c. 2007.

North Dakota #1, GDP Per Capita, 2014 -- Compare To Europe -- The Market, Energy, And Political Page, T+24 -- November 30, 2018

Amazing graphic / link from a reader. The data is from 2014, but probably not a lot different than 2018: so, apples to apples.
AEI’s Perry writes: “Most European countries (including Germany, Sweden, Denmark and Belgium) if they joined the US, would rank among the poorest one-third of US states on a per-capita GDP basis, and the UK, France, Japan and New Zealand would all rank among America’s very poorest states, below No. 47 West Virginia, and not too far above No. 50 Mississippi. Countries like Italy, S. Korea, Spain, Portugal and Greece would each rank below Mississippi as the poorest states in the country.”
Here is the chart:
But look at this. from wiki:
North Dakota is the fastest-growing state in U.S. by GDP. Its growth rate is about 8.3%. The economy of North Dakota had a gross domestic product of $36.8 billion in 2013. The per capita income in 2013 was $50,899, ranked 16th in the nation. The three-year median household income from 2002–2004 was $39,594, ranking 37th in the U.S.
Okay, so in 2013, North Dakota's GDP per capita was less than $51,000. One year later, North Dakota's GDP per capita was almost $73,000.

Based on the Federal Reserve, North Dakota GDP per capita:
  • 2018: $72,847.
  • 2014, the all-time peak: $78,808
Most interesting data points on the chart above:
  • California at #10 much higher than one might expect;
  • Idaho, coming in just ahead of Mississippi (dead last) -- but both besting South Korea, and Idaho; even besting Japan and New Zealand
The most amazing thing about all of this: I doubt most NoDaks know how significant this is.

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The Book Page

Seriously, seriously, seriously. For serious book readers with reading abilities greater than that of an eighth grader, I seriously cannot recommend Ben Orlin's Math With Bad Drawings: Illuminating The Ideas That Shape Our Reality, c. 2018.

It's a fun book to read, but doesn't break any new ground. It reads like a blog and the "bad drawings" are huge distractions.

My hunch is that this is the kind of book middle school (and probably high school math teachers, unfortunately) will recommend to their students.

I find myself going back to the book often throughout the day to read snippets -- it is entertaining but unrewarding.

The ultimate tic-tac-toe game might be worth the price of the book; some sections on probability are reasonably good; and, the author's discussion of the US electoral college is nice.

Speaking of the US electoral college: thank goodness our Founding Fathers understood the importance of protecting our population-challenged states: each state gets two US senators; and, for the most part, states are still mandating that all electors align with the state's popular vote.

These is, frustratingly enough, no index. There are end notes at the end of the book which are very, very rewarding.

There's probably more to the book than I realize -- if so, very subtle. Sublime? I don't think so.

I'm glad it was a freebie. I'll keep it around for a year and then donate it to a school.

From Chapter 17, "The Last .400 Hitter," p. 223:
As baseball came of age in the 1850s, a player batted until he either hit the ball into play, or swung and missed three times. With patient enough batters, the game flowed like cold molasses. Thus, in 1858 (before the US Civil War), "called strikes" were born.

If a player let a juicy pitch sail past, then it was treated as equivalent to swinging and missing.

But now the pendulum swung too far; cautious pitchers refused to throw anything hittable. The solution, introduced in 1863 (during the middle of the US Civil War), was to also call "balls": pitches deemed too far off target for the batter to hit. Enough such "balls" would grant the batter a free walk to first base.

Walks stumped [cricket fans]. Cricket's closest equivalent is a "wide," generally viewed as a mistake by the thrower. So batting average (BA) ignored walks, as if the at-bats had never occurred. Walks weren't deemed an official statistic until 1910.

Today, the most skilled and patient hitters walk 18% or 195 of the time; their reckless, swing-happy peers, just 2% or 3%. Hence ... a convoluted [mathematical] expression for what we now call "on-base percentage," or OBP. It's your rate of getting on base, via either hits or walks -- in ther words, your rate of not making an out.

Which statistic better predicts the number of runs a team will score: BA or OBP? Running the correlations for 2017, BA is pretty strong, with a coefficent of0.73. But OBP is outstanding, with a coefficient of 0.91.

Another Nice Kennedy Well Has Been Reported -- November 30, 2018

This page will not be updated.
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No Comment 


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Why Not?


EIA's Year-End 2017 Crude Oil And Natural Gas Proved Reserves -- Report -- An Incredible Story

This is simply an incredible report at so many levels. And US production is greatly constrained, and reserves were based on WTI at $50 +/- a few bucks. Imagine the reserves if priced at $100.

Link here. How many nails in the Hubbert peak oil theory coffin?
Stronger oil and natural gas prices combined with continuing development of shales and low permeability formations drove producers of crude oil and natural gas in the United States to report new all-time record levels of proved reserves for both fuels in 2017.
Total U.S. oil reserves in 2017 exceeded a brief, one-year, 47-year-old record, highlighting the importance of crude oil development in shales and low permeability plays, mainly in the Southwest.
The new record for natural gas extends a longer-term trend of development, mainly in shale plays in the Northeast. Both U.S. proved reserves of crude oil and natural gas are approximately double their levels from a decade ago.
These new proved reserves records were established in 2017 despite production of crude oil at levels not seen since 1972, and record natural gas production.
Highlights are listed below.

Oil highlights

  • Proved reserves of crude oil in the United States increased 19.5% (6.4 billion barrels) to 39.2 billion barrels at Year-End 2017, setting a new U.S. record for crude oil proved reserves. The previous record was 39.0 billion barrels set in 1970.
  • Proved reserves of lease condensate in the United States increased 16% (0.4 billion barrels) to 2.8 billion barrels at Year-End 2017. Since 2009, to provide a clearer picture of U.S. liquid fuel resources, EIA features combined proved reserves of U.S. crude oil and lease condensate in its reporting.
  • U.S. production of crude oil and lease condensate increased by 6% from 2016 to year-end 2017. Crude oil production in 2017 reached its highest level since 1972.
  • The annual average spot price for a barrel of West Texas Intermediate (WTI) crude oil at Cushing, Oklahoma, increased 20% in 2017, from $42.59 in 2016 to $51.03. At the end of 2017, the WTI spot price exceeded $60 per barrel for the first time since June 2015.
  • Producers in Texas added 3.3 billion barrels of crude oil and lease condensate proved reserves, the largest net increase of all states in 2017. The increase was a result of increased prices and development in the Permian Basin of the Spraberry Trend and the Wolfcamp/Bone Spring shale play.
  • The Wolfcamp/Bone Spring shale play in the Permian Basin surpassed the Bakken/Three Forks play in the Williston Basin to become the largest oil-producing tight play in the United States in 2017.
  • The next largest net gains in crude oil and lease condensate proved reserves in 2017 were in New Mexico (1.0 billion barrels) and in the Federal Offshore Gulf of Mexico (729 million barrels).

Natural gas highlights

  • Proved reserves of natural gas increased by 123.2 trillion cubic feet (Tcf) (36.1%) to 464.3 Tcf at year-end 2017—a new U.S. record for total natural gas proved reserves. The previous U.S. record was 388.8 Tcf, set in 2014.
  • U.S. production of total natural gas increased by 4% from 2016 to 2017, reaching a new record level.
  • The share of natural gas from shale compared with total U.S. natural gas proved reserves increased from 62% in 2016 to 66% at year-end 2017.
  • The annual average spot price for natural gas at the Louisiana Henry Hub increased by 21% from $2.47 per million British thermal units (MMBtu) in 2016 to $2.99 per MMBtu in 2017.
  • Producers in Pennsylvania added 28.1 Tcf of natural gas proved reserves, the largest net increase of all states in 2017, as a result of increased prices and development of the Marcellus and Utica shale plays.
  • The next largest net gains in natural gas proved reserves by volume in 2017 were in Texas (26.9 Tcf) and Louisiana (18.4 Tcf) as a result of development of the Wolfcamp/Bone Spring shale play in the Permian Basin and the Haynesville/Bossier shale play in eastern Texas and northern Louisiana.
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The Book Page

The Bible, Homer (Iliad and Odyssey), and Shakespeare -- one could spend a lifetime on these works (and some college professors probably have) and never exhaust the treasure trove of writing.

In the Bible the euphemisms and metaphors are incredible. Character development, based on very, very few lines, is equally incredible.

Today, going through Genesis, starting again, my third reading in the past few weeks, I come to the land of Nod -- everyone is familiar with the land of Nod. I knew it was east of Eden but never thought any more about it until today. Today, from wiki:
"Nod" (נוד) is the Hebrew root of the verb "to wander" (לנדוד). Therefore, to dwell in the land of Nod is usually taken to mean that one takes up a wandering life. Genesis 4:17 relates that after arriving in the Land of Nod, Cain's wife bore him a son, Enoch, in whose name he built the first city. 
Others would ague that the "land of Nod" is a physical location.

But as a metaphor -- priceless. The land of Nod. East of Eden. The sun also rises. Seems like these could be the titles of some great books. 

Two things: the metaphor, "the land of Nod," to become a nomad, and then the most amazing thing: early in the Bible, written millennia ago, the writer opens up the whole issue of civilization, moving from a nomadic life to a "city" life.

Our oldest granddaughter spend some weeks studying the transition from nomadic societies to settled societies, the virtues of each.

Enoch: son of Jared, father of Methusaleh, great-grandfather of Noah, subject of the deuterocanonical Book of Enoch.

From another source: Enoch, destroyed in the flood; re-build, new name, Uruk or New Uruk;  in time the name Uruk ceased to be a name at all and became merely a word meaning City. In later cuneiform this city was known as Ereck, and at the present time the site is known by the local people as Warka.

Uruk, just a few miles northwest of Ur, lies about halfway between Baghdad and the mouth of the Tigris/Euphrates rivers on the Persian Gulf. 

Five Huge Wells Coming Off Confidential List Today -- Last Day Of The Month -- November 30, 2018

Wells coming off confidential list today -- Friday, November 30, 2018:
  • 33696, conf, Oasis, Lite 5303 131-11 8T, Sanish, a nice well;
  • 33242, conf, Oasis, Muri 5198 12-4 5B, Banks, a huge well;
  • 33227, 1,149, CLR, Kennedy 5-31H, Dimmick, another big Kennedy well, 62 stages; 12.6 million lbs; t8/18; cum 47K 9/18; the Kennedy wells are tracked here;
  • 33110, conf, CLR, Wiley 10-25H, Pershing, a huge well;
  • 30543, conf, Bruin, Fort Berthold 151-94-26A-35-6H, a "50K" well -- huge; again --
DateOil RunsMCF Sold
9-20181484111025
8-20183282922985
7-20185308234423
6-20184440339049
Active rigs:

$50.7911/30/201811/30/201711/30/201611/30/201511/30/2014
Active Rigs66543965185

RBN Energy: E&P profits surge in 3Q18 but plunging oil prices cloud future outlook.
The sun was shining and wind filled the sails of the 44 major U.S. exploration and production (E&P) companies we track in the third quarter of 2018 as they collectively reported a 35% increase in pre-tax operating income over the previous quarter. It’s been an up-and-down year. Increased efficiency and rising output from the transformation to large-scale, manufacturing-style exploitation of premier resource plays moved the E&P sector solidly into the black in early 2018 after three years of losses. But profits stagnated in the second quarter on a decline in revenues as widening differentials, primarily in the Permian Basin, negated the impact of higher NYMEX prices. Today, we explain how producers overcame the headwinds to resume profit growth in the third quarter, but warn that future returns for certain E&Ps could be jeopardized by the sudden plunge in oil prices.

Thursday, November 29, 2018

EOG Activity In Parshall Oil Field, Section 19-154-90? -- November 29, 2018

I might come back to this one later, but right now there is an indication that neighboring wells may soon be fracked. Right now, neighboring wells are still on confidential list.

This is a great EOG well that has just come off line:
  • 17416, 1,124, EOG, Austin 16-19H, Parshall, t12/08; cum 859K 8/18; the well came off line 8/18 and remains off line as of 9/18;

EOG Has Fracked Three Austin Wells -- Still On Confidential List -- November 29, 2018

These wells were recently taken off line, and remain off line:
  • 17386, 2,205, EOG, Austin 15-17H, Parshall, t11/08; cum 725K 6/18;
  • 26324, IA/480, EOG, Austin 77-1708H, Parshall, t2/14; cum 243K 9/18; taken off line 8/18;
  • 26325, IA/343, EOG, Austin 42-1708H, Parshall, t2/14; cum 327K 9/18; taken off line 8/18;
Three wells have been recently fracked; three others not yet drilled, note the chronology in the legal name:
  • 34522, conf, EOG, Austin 424-1721H, 33-061-04178, Parshall, t--; cum- -- ; producing;
  • 34523, conf, EOG, Austin 425-1721H, 33-061-04179, Parshall, t--; cum- -- ; producing;
  • 34524, conf, EOG, Austin 426-1721H, 33-061-04180, Parshall, t--; cum- -- ; producing;
  • 34519, loc
  • 34520, loc
  • 34521, loc
The graphic:

Atmospheric CO2 -- FWIW -- October, 2018

This may be a duplicate. I don't recall if I posted the atmospheric CO2 data for October, 2018.

Link here:


From this link:

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Connecting The Dots -- Or Not

The rate of change, year-over-year, 2018-over-2017: 0.58%.

The rate of change, year-over-year, 2017-over-2016: 0.53%.

No wonder US suicides are at a 50-year peak, pushing down US longevity rates.

Enerplus' "ND Winter" Pad In Mandaree Oil Field

Updates

December 21, 2018: see this post also. But the "ND Winter" pads will be followed here.

Original Post
The wells:
  • 35800, loc, Enerplus, Frost 149-93-07A-12H-TF-LL, Mandaree,
  • 35801, loc, Enerplus, Hail 149-93-07A-12H, Mandaree,
  • 35802, loc, Enerplus, Sleet 149-93-07A-12H, Mandaree,
  • 35803, loc, Enerplus, Blizzard 149-93-07A-12H, Mandaree, 
  • 25736, 2,347, Enerplus, Snow .... , t6/15; cum 508K 9/18; -- wow! Only 39 stages; 
  • 25735, 1,773, Enerplus, Rain ..., t6/15; cum 336K 9/18;
  • 25738, 1,946, Enerplus, Sun ..., t8/14; cum 367K 9/18;
  • 25737, 1,278, Enerplus, Wind ...., t9/14; cum 324K 9/18;
The graphic:



WTI Claws Its Way Back To $51 -- November 29, 2018

Active rigs (note: some folks suggest that there is some double-counting, and that the number of active rigs is closer to 62 than 66 but this has been going on for a couple of days now) (on another note, it is hard to believe that "185" is still showing up as the number of active rigs at one time -- only four years ago):

$51.4211/29/201811/29/201711/29/201611/29/201511/29/2014
Active Rigs66553964185

Nine new permits: pending.
  • Operators: Whiting (4); Enerplus (4); Lime Rock
  • Fields: Mandaree (Dunn); Foreman Butte (McKenzie County); Dimond (Burke)
  • Comments: Whiting has permits for a 2-well Link pad in section 12-150-102; permits for another 2-well Link pad in section 14-150-102; Enerplus has permits for a 5-well "ND winter" pad in section 7-149-93; and, most interesting, Lime Rock has a permit for a Birdbear well in Dimond oil field, #35797, section 15-160-91;
Note: in light of the better wells we are seeing, it will be interesting to follow the Whiting Link wells. Based on the amount of (or better said, lack of) activity in the area of the Link permits/wells, I would think it would be a "tier 2" play -- CLR/Whiting/Oasis -- one of the three, I forget which -- in a recent corporate presentation said that based on their better completions, they were adding some "tier 2" locations to their core positions. This may be an example. The Foreman Butte oil field is a bit south, and a bit west of Alexander. So, for my dad and for me, when driving south from Williston and taking that big swing to the east, we would look to our right and see Foreman Butte, where the deer and the antelope play. We would also see that huge (new) truck stop, and a man's camp that might now be boarded up. At one time, it was a fairly busy man camp. Wow, that seems like a long time ago.

The graphic:


Two producing wells (DUCs) reported as completed:
  • 33530, 1,672, Hess, AN-Gudbranson-153-94-2215H-11, Elm Tree, t10/18; cum 19K over 16 days which extrapolates to 36K over 30 days;
  • 33529, 2,054, Hess, AN-Gudbranson-153-94-2215H-12, Elm Tree, t10.18; cum 19K over 13 days which extrapolates to 45K over 30 days;
  • the AN-Gudbranson wells are tracked here;
Five permits renewed:
  • EOG (2): two Austin permits in Mountrail County
  • Newfield: a Sorenson Federal permit in McKenzie County
  • Whiting: an Earl permit in Williams County
  • Rimrock Oil & Gas: a Moccasin Creek permit in Dunn County

Fascinating, Fascinating Power Article From Bloomberg -- Exxon, Renewable Energy And Denmark -- The Market, Energy, And Political Page, Part 5, T+23 -- November 29, 2018

Updates

Later, 3:32 p.m. CT: I made a huge mistake in the original post suggesting that Exxon had the opportunity to partner with GE on a large wind farm in Texas but chose to go with a foreign company. A reader correctly pointed out that GE does not "build/manage" wind farms. GE provides components for the wind turbines. In this case, it is still possible that GE will be involved with the wind farm in Texas as a subcontractor or partner with Orsted. This was a big mistake on my part. Sorry. I stand corrected.

Original Post 

Fascinating story from Bloomberg. Excellent use of renewable energy. Exxon will build a wind farm and a solar farm to help electrify their operations in the Permian. The story is fascinating on many levels, but I was mostly interested in this one data point. This gives one an idea of how incredibly big the Permian shale sector is:
One area of the Permian, called the Delaware Basin, consumed the equivalent of 350 megawatts this summer, tripling its load from 2015. That’s enough to power about 280,000 U.S. homes. Providers say demand is likely to triple again by 2022.
Think about that: just "one" area of the Permian consumed the equivalent of 350 MW this summer, tripling its load from 2015; enough to power almost 300,000 US homes; and it is likely that electricity demand will triple again by 2022.

Do I need to repeat that? Nah, but I will archive the article.

Update: the rest of this post is "off-base" (see update above).

What's the biggest takeaway from the article?

This link will give you a clue.
GE to focus on aviation, power and renewable energy. ... GE aims to strengthen its balance sheet by reducing Industrial net debt by about USD 25 billion (EUR 21.4bn) by 2020. The company is continuing with efforts to shrink GE Capital and targets sales of USD 25 billion in energy and industrial finance assets by 2020 -- June 26, 2018.
Exxon partnered with a Danish company to provide its electricity power needs. Exxon did not partner with GE. Say what? Under 12-year agreements with Denmark’s Orsted, Exxon will buy 500 megawatts of wind and solar power in the Permian Basin, the fastest growing U.S. oil field. It is the largest ever renewable power contract signed by an oil company. Terms weren’t disclosed.
I think that's the biggest takeaway from this article. Partnering with a Danish company, not an American company.

It says a lot about what a company like Exxon thinks of GE right now. 

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Washington State Refinery With Ties To Bakken -- New Owners

From MarketWatch, data points:
  • the US Oil & Refining Co with a 42,000 bpd refinery in Tacoma, WA, sold to Par Pacific Holding
  • $358 million
  • entire deal connects existing assets in Hawaii, Pacific Northwest, and the Rockies to create an integrated downstream network
  • cites potential ties to Canadian and Bakken crude oil
  • in addition to refinery:
    • a marine terminal
    • a unit train-capable rail loading terminal
    • 2.9 million bbls of refined product and crude oil storage
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Bad Timing?

Marc Lamont Hill was fired by Fox News back in 2007.

Apparently he's been fired again, today by CNN. The story does not appear to have been published in The Washington Post  based on a google search but conservative outlets are posting the story.

It was probably "the straw that broke the camel's back" as they say, but it seems the firing comes at an interesting moment, just as Jim Acosta arrives back at his post in the White House press pool.

The Market, Energy, And Political Page, Part 4, T+23 -- November 29, 2018

Re-posting. Comments later. I'm going Christmas shopping.

Natural gas: weekly fill rate:


The Market, Energy, And Political Page, Part 3, T+23 -- November 29, 2018

UN on climate change:
“In sum, a strategy must recognize what is possible. In climate research and modelling, we should recognize that we are dealing with a coupled non-linear chaotic system, and therefore that the long-term prediction of future climate states is not possible.” 
Where did that come from? I thought you would never ask. See below.

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Other Stuff
Jobs, link here:
  • prior: 224K 
  • forecast: 220K
  • actual: 234K
  • 4-week moving average: 223.25K
Natural gas: weekly fill rate -- pending:

Theft: local news is reporting theft of $1,000-tires/wheels off pick-up trucks. Professionals -- at night -- hydraulic drill lifts truck completely off the ground; wheels with/without locked hub nuts removed in minutes; trucks left on blocks/bricks. This is what irritates me. This type of crime could be stopped "overnight." Why doesn't the government mandate RIFD GPS chips in anything of value? Period. Dot. Or better yet, let the insurance companies do this. Huge drop in premiums/deductibles if anything of value has RIFD GPS chips embedded. This is not rocket science. Drives me nuts. Likewise, anyone traveling to Mexico needs to have one of these chips embedded. We do it for our pets but not ourselves.#MeToo people need to have chips with recording devices embedded before a) going to college; b) going to Washington, DC, to work as interns; c) going to Hollywood to work for anyone; d) going to Central Park in NYC. Until one gets an embedded chip, a concealed handgun might be a good alternative. Wow, how did I end up here?

Meanwhile: I have a copyright on decals to place on vehicles that say: "This vehicle/wheels protected with RIFD/GPS chips." $4.00 apiece. Applied on vehicle above each wheel.

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UN On Climate Change 

From Jim Ring:

Here is the last paragraph in the IPCC Third Assessment Report, Chapter 14, Section 14.2.2.2:
“In sum, a strategy must recognize what is possible. In climate research and modelling, we should recognize that we are dealing with a coupled non-linear chaotic system, and therefore that the long-term prediction of future climate states is not possible.
This seems fairly easy to read. Pretty easy English. Eighth grade English.

This information was not included in the Summary Report for Policymakers given to the press and public.

If the climate is indeed a coupled non-linear chaotic system (who can doubt the IPCC?) then there is no rational or scientific basis to make a definitive statement about a future state of the climate.

At this point the coupled non-linear chaotic nature of the climate makes scientific observations academically interesting but individually they have no relevance in predicting the future state of the climate. The climate is a system, which means the relationships among these observations are what is important, not the observations themselves.

The Market, Energy, And Political Page, Part 2, T+23 -- November 29, 2018

So much for Hubbert's peak oil theory. See the breathless report at oilprice. Will wiki ever update that entry? From EIA today:


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Doing More With Less

 From Bloomberg: in 2019, US shale operators will spend less and produce more. 
Companies such as Continental Resources Inc., Pioneer Natural Resources Co. and Devon Energy Corp. generated substantial free-cash flow in the quarter while still clocking production growth well into the double digits. EOG Resources Inc. made more than $1 billion in the period, putting it in the same league as veteran majors such as Italy’s Eni SpA and ConocoPhillips.
“At a $65 to $70 price deck we had a lot of free cash flow being forecasted but at these levels all that free cash flow is gone,” said Dane Gregoris, senior vice president at RS Energy Group.
Devon, Occidental and Anadarko were among companies that used excess cash to buy back shares this year, while others such as EOG hiked dividends.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or think you may have read here.

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Bad Hair Day And Flower Arranging 101


A Bakken Filler Before The Stories I Really Wanted To Post -- November 29, 2018

NDIC regulators have given unanimous approval for Kinder Morgan to expand the Roosevelt Gas plant from 50 million cfpd to 200 million cfpd. The plant is located 7.5 miles south of Watford City. By the time the plant is completed, Watford City is growing so quickly that the plant my be less than 7.5 miles from the city -- just saying.

From the blog back on September 8, 2018:
This story was posted earlier, but for those who missed it the first time, from August 8, 2018, The Bismarck Tribune:

  • to expand the Roosevelt Gas Plant in McKenzie County by 150 million cubic feet per day
  • increasing the capacity to process up to 200 million cubic feet per day
Besides the obvious -- more natural gas processing capacity -- but more importantly, it needs drillers can increased oil production.

For newbies, crude oil production in North Dakota is constrained by:
  • the price of oil; demand for light oil
  • takeaway capacity (not much of an issue now that the DAPL is flowing)
  • flaring (a big issue)
  • workforce: competition with the Permian
 ************************************
Getting Ready For Christmas

Her mother said Sophia was moving the nutcracker's jaw for about 20 minutes (?) and the two of them were having a conversation about Christmas. You can see Sophia's hand in the back moving the "lever" and in the front you can barely see the king's beard move up and down.

Talking To A Nutcracker

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The Book Page

I can't wait to get into this book: Math With Bad Drawings, Illuminating the Ideas That Shape Our Reality, Ben Orlin, c. 2018.

I'm read some of it; paged through most of it. Intriguing. Not quite sure what to make of it.

*****************************
The Movie Page

I wish I had the stamina for a 24-hour movie binge. TCM was highlighting Jane Russell yesterday/overnight -- 24 hours. I caught two movies: The Outlaw and This Kind of Girl.

Holy mackerel. I can see why Howard Hughes had trouble getting The Outlaw past the censors in 1941. Now that I've seen it, I would watch it again.

Jane Russell's history is very interesting beginning with her birth in Bemidji, Minnesota. I never knew. From wiki:
Russell married three times, adopted three children, and in 1955 founded Waif, the first international adoption program. She received several accolades for her achievements in films, including having her hand and footprints immortalized in the forecourt of Grauman's Chinese Theatre, and having a star on the Hollywood Walk of Fame.
In between the movies last night, the TCM host talked about the movie, Jane Russell, Howard Hughes, and RKO.

The references to RKO, of course, jumped out at me because of the references to this movie production company in Rocky Horror Picture Show. 

After The Outlaw, an even better movie, This Kind of Girl. Wow, talk about a movie that meets all the criteria for a film noir. From wiki:
A style or genre of cinematographic film marked by a mood of pessimism, fatalism, and menace. The term was originally applied (by a group of French critics) to American thriller or detective films made in the period 1944–54 and to the work of directors such as Orson Welles, Fritz Lang, and Billy Wilder.
Vincent Price stole the show. If you haven't seen this movie, it's worth watching just to see him (Vincent Price) and ... Mr Magoo.   

By the way, this is why 3-D and AR will bring back the old movies. From The Baltimore Sun:
As readers of this blog know, Russell's allure has never been forgotten by Baltimore movie-lovers. Sun entertainment writer and Maryland Film Festival 3-D guru Chris Kaltenbach told me a year ago that his ideal  3-D presentation would be to "bring the Jane Russell 1954 3-D extravaganza 'The French Line' to Baltimore. Hey, a guy can dream, can't he?"
Also, Martin Hickes, In Praise of Jane Russell. In the clip below, Ms Russell is #27 of 50. It's hard to believe but my wife says she met in person one of the "classic beauties of Hollywood," and, in person, she says, she was even more beautiful than in her pictures. I find that amazing. And uplifting. And wonderful. The toughest part of the Academy Awards show -- when I used to watch many years ago -- was the In Memoriam,


**************************
Music and Hollywood Glamour

Wow, the clip above takes me back to my coming of age years in southern California. Wow, "I had it lucky," as they say.  

The Market, Energy, And Political Page, T+23 -- November 29, 2018 -- Mexico To Drill 40 Onshore Conventional Wells For $1.47 Billion

From Ice Age: "mini-ice-age" in a matter of months?  Probably not. I guess it depends on how "matter of months" is defined. For the archives.

From twitter this morning:

***************************************
New England Natural Gas Hookups Update

I had forgotten all about this but the moratorium on new natural gas hookups in Boston and the eastern half of Massachusetts continues. Most of the stories are behind a paywall but if interested google boston moratorium on natural gas hookups update. The ban is effectively "destroying" development in eastern Massachusetts, some say. The moratorium is the result of devastating natural gas explosions earlier this year. MarcellusDrilling calls this a "police state" run amok and I thought my blog was a bit bombastic at times.

*********************************
Canadian Update

Canadian crude oil output continues to grow despite all its problems -- Bloomberg. Data points:
  • daily average output "will" average about 4.59 million bopd
  • 22,000 bopd more than forecast
  • this despite two big producers curtailing production by about 160,000 bopd
Okay, folks this is the lede for that story:
Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast.
Now this line in the second paragraph:
The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record lows and prompted some producers, including Canadian Natural Resources Ltd. and Athabasca Oil Corp., to reduce output by about 160,000 barrels a day, according to estimates by TD Securities Inc.
It's hard for me to accept the writers' premise when they say "Canada's lingering crude glut isn't hindering the country's growing oil output."

It certainly appears that by their own reporting the glut is "hindering" at least 160,000 bopd from reaching the market.

Whatever.
**********************************
Mexico

Yesterday from the blog:
From Platts:
  • Pemex (Mexico) doubles Ixachi oil and gas reserves to 750 million boe
  • production to peak at 80,000 beopd
  • development cast estimated at $1.5 billion
When I first saw the headline that Pemex "doubles" its reserves at Ixachi, I was excited. Then I saw the numbers: max production at 80,000 boepd and, reserves increased to 750 million boe. Not exciting.

The Bakken currently produces about 80,000 boepd in 90 minutes. Bakken reserves: for those with exuberant "feelings" about the Bakken, as much as 50 billion boe, maybe more.

750 million / 50 billion = 1.5%. And that's just the Bakken.

I wonder if we should start measuring pools of oil in "Permians." For example, the Bakken would be estimated to be 0.25 Permians. The Ixahi reserves would be 0.00375 Permians. At 268 billion bbls (wiki), Saudi Arabia's reserves would be 1.34 Permians. I would like to use the Bakken as the "unit of measure" for any number of reasons, but I would be voted off the island -- "everyone" would vote for the "Permian."

And then the day we have a massive carbon tax and no one can afford oil at all -- sort of like the yellow vests in France -- we can take oil off the "Permian standard."
So, yesterday, Platts says Pemex "doubled its estimate for the Ixachi oil field, putting oil and gas reserves at 750 million boe.

Today, this story from Bloomberg: Pemex has more than tripled its estimated reserves in its Ixachi field. Data points:
  • the onshore field in Veracruz is now estimated to contain 1.3 billion boe in proven, probably and possible ("3P") reserves
  • the story sticks with max production at 80,000 bopd (see Platts above, and my comments
  • the field is currently producing about 2,000 bpd of condensate; hopes to get to 5,000 bpd of condensate by end of 2019
  • development costs for Ixachi: $1.47 billion for 40 wells = I've done the math three times -- see if you get a different number -- $1.47 billion for 40 wells = $36,750,000 / well 
  • this is Mexico's most important onshore field in 25 years, Pemex says -- if so, Mexico is in a heap of trouble .. 2,000 bbls of condensate a day and that gets them excited
  • Mexico currently produces about 1.8 million bopd, down from a recent target of 1.95 million bopd
Screenshot from the article:

WTI Drops Below $50 -- November 29, 2018

WTI: just below $50 overnight, but now back to $50.68.

*********************************
Back to the Bakken

Wells coming off confidential list today -- Thursday, November 29, 2018:
  • 34590, 2,820, WPX, Grizzly 25-36HIL, four sections, Spotted Horn, 40 stages; 7.9 million lbs, t9/18; cum 33K after 14 days which extrapolates to 69,810 bbls over 30 days;
  • 34322, 588, Nine Point Energy, Sigma Lee 155-103-14-23-8H, Squires, 60 stages; 8 million lbs, t6/18; cum 51K 9/18; 
  • 33697, 1,470, Oasis, Lite 5393 31-11 7B, Sanish, 50 stages, 10 million lbs sand and ceramic, t6/18; cum 95K in less than four months;
  • 30544, 1,129, Bruin, Fort Berthold 151-4-26A-35-7H, Antelope-Sanish, Three Forks B1, 55 stages; 14.5 million lbs, t6/18; cum 30K constrained;

Active rigs: note -- at least two readers suggest there is some double-counting on a couple of rigs, suggesting that the active number of rigs may be closer to 62 than 66 --

$50.1311/29/201811/29/201711/29/201611/29/201511/29/2014
Active Rigs66553964185

RBN Energy: announces a new "drill-down" report on proposed US crude oil export terminals.
This summer and fall, more than a half dozen companies and midstream joint ventures have announced plans for new deepwater export terminals along the Gulf Coast that — if all built — would have the capacity to load and send out more than 10 MMb/d, which is notable because the U.S. Lower 48 currently produces 11.2 MMb/d. Most of these projects won’t get built, of course — export volumes may well continue rising, and the economics of fully loading VLCCs at deepwater ports are compelling, but even the most optimistic forecasts suggest that only one or two of these new terminals will be needed through the early 2020s. So, there’s a fierce competition on among developers to advance their VLCC-ready export projects to Final Investment Decisions (FIDs) first. Today, we discuss highlights from its most recent analysis of deepwater crude export terminals as well as the export growth and tanker-loading economics that are driving the project-development frenzy.
So far in 2018, the U.S. has exported more than 524 million barrels of crude oil and export volumes — lately hovering around the 1.8 MMb/d mark — are likely to continue increasing next year and in 2020. The export boom is made possible by the lifting of the ban on most U.S. crude exports in December 2015 and is driven by rising production in the Permian, Eagle Ford, SCOOP/STACK and other major plays. U.S. crude production has reached 11.7 MMb/d — all but 500 Mb/d of it in the Lower 48 — and RBN forecasts that output will rise another 500 Mb/d by April 2019. These production gains are occurring despite pipeline takeaway constraints out of the Permian, and may well accelerate in late 2019 and early 2020 as new pipeline capacity comes online, eliminating bottlenecks between West Texas and the Gulf Coast.

Wednesday, November 28, 2018

How Many Trillions Of Dollars Have Been Spent On Renewables? -- November 28, 2018

I don't know.

From a social media discussion group:


The link inside this screen shot takes you to the very legitimate Financial Post. Worth archiving.

*************************************
New England

Updates

November 29, 2018: data points for ISO New England --
  • winter peak / summer peak: around 30,000 MW
  • solar / wind provides about 1,000 MW during the winter
  • the sun has set when peak demand hits in the winter
Original Post 

It's hard to find nameplate capacity for wind/solar in ISO New England but it appears to be about 4,000 MW. It was about 3,800 MW at the end of 2017.

I generally see no more than 1,000 MW of electricity coming from wind/solar over at ISO New England. Its low today about 816 MW or 816/4,000 = 20%.

816/3800 = 21.5% which is about what others have told me to expect when it comes to wind/solar.

See this post.

Random Update Of A Whiting Kjos Well In Alger Oil Field -- November 28, 2018

See this post.

Prior to the neighboring frack, 500 bbls/month; after the neighboring frack, 5,697 bbls over 14 days which extrapolates to 12,207 bbls/month. Both of the following wells are short laterals. 

The well of interest:
  • 23566, 845, Whiting, Kjos 14-13H, one section, Alger, t10/12; cum 98K 9/18; recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN9-2018145697547015432238802361
BAKKEN8-20180000000
BAKKEN7-201821401715011
BAKKEN6-2018305396904055510491
BAKKEN5-2018315434723835590497
BAKKEN4-2018305306513235610502
BAKKEN3-2018316294804406170555
BAKKEN2-2018285856924035630507
BAKKEN1-2018316706924876750613
BAKKEN12-2017317687196377760714
BAKKEN11-2017295094984025310475
BAKKEN10-2017316697274596880626
BAKKEN9-2017306314854116360576
BAKKEN8-2017316607215506670605
BAKKEN7-2017316614714336700610

Now, go back to this neighboring well, which came off the confidential list today:
  • 34700, 552, Whiting, Liebl 31-13-2H, Alger, one section, t9/18; cum 7K 9/18; look at #23566, Kjos 14-13H;

Note: A Reader Suggests The Jump In Active Rigs In North Dakota May Be In Error -- November 28, 2018

NDIC is reporting 66 active rigs, a jump from the previous 62 a couple of days ago. A reader went through the data and suggests there may be an error -- some accidental "double-counting" of a couple of rigs.

Later, by the way, note the rig count in Montana -- see first comment.

The Market, Energy, And Political Page, T+22 -- Wednesday, November, 28, 2018 -- The Dow Surges 600 Points -- MAGA

The Fed must be:
  • listening to the president
  • looking at the market
  • looking at their own portfolios
  • looking at mortgage rates and the housing sector
Best three days for the market since 2016!


WTI Close To $50; Five New Permits -- November 28, 2018

NDIC is reporting 66 active rigs, a jump from the previous 62 a couple of days ago. A reader went through the data and suggests there may be an error -- some accidental "double-counting" of a couple of rigs. 

Active rigs:

$50.22 oh-oh11/28/201811/28/201711/28/201611/28/201511/28/2014
Active Rigs66553764184

Five new permits:
  • Operators: Kraken Operating
  • Fields: Lone Tree Lake (Williams)
  • Comments: Kraken has permits for a 5-well Rixey pad in 33-157-99; sited in SESE section 33, these wells will run north, opposite and parallel to three producing well; see graphic.
Eleven permits renewed:
  • CLR (5): two Charlotte permits; one each -- Akron, Chicago, and Thorvald -- all in McKenzie County except for Thorvald which is in Dunn County
  • Newfield (3): three Sorenson Federal permits in McKenzie County
  • Oasis: one Fraser Federal permit in Williams County
  • BR: one Abercrombie permit in McKenzie County
  • XTO: one Rough Federal permit in McKenzie County
Five producing wells (DUCs) reported as completed:
  • 33906, 842, Petro-Hunt, USA 153-95-9A-15-1HS, Charlson, t10/18; cum --
  • 34700, 552, Whiting, Liebl 31-13-2H, Alger, t9/18; cum 7K 9/18; look at #23566, Kjos 14-13H; see this post;
  • 34699, 1,078, Whiting, Meiers 44-25-2H, Robinson Lake, t9/18; cum 13K 9/18;
  • 34701, 898, Whiting, Stettner 14-13TFH, Alger, t9/18; cum 3K after 16 days;
  • 30547, 348, BR, Merton 41-15TFH ULW, Croff, t10/18; cum --; the Merton wells are tracked here;
    ****************************************




    WTI Slumps (Again) -- Now, Just 22 Cents Above $50/Bbl -- November 28, 2018; Peak Oil? Probably Not

    Apparently it took a couple of hours to sink in, the weekly data released earlier today, but now traders have had a chance to look at this data:
    Initially, the price of WTI didn't show much change, but now, near the close of the trading day, WTI is down 2.6%; down $1.34; and, now just 22 cents above $50/bbl.

    We could see WTI going below $50 by the end of the week. From there ... ?

    Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on anything you read here or think you may have read here.

    Or maybe the slump in WTI was due to yet another report of more oil. Peak oil? I don't think so.  From Platts:
    • Pemex (Mexico) doubles Ixachi oil and gas reserves to 750 million boe
    • production to peak at 80,000 beopd
    • development cast estimated at $1.5 billion
    When I first saw the headline that Pemex "doubles" its reserves at Ixachi, I was excited. Then I saw the numbers: max production at 80,000 boepd and, reserves increased to 750 million boe. Not exciting.

    The Bakken currently produces about 80,000 boepd in 90 minutes. Bakken reserves: for those with exuberant "feelings" about the Bakken, as much as 50 billion boe, maybe more.

    750 million / 50 billion = 1.5%. And that's just the Bakken.

    I wonder if we should start measuring pools of oil in "Permians." For example, the Bakken would be estimated to be 0.25 Permians. The Ixahi reserves would be 0.00375 Permians. At 268 billion bbls (wiki), Saudi Arabia's reserves would be 1.34 Permians. I would like to use the Bakken as the "unit of measure" for any number of reasons, but I would be voted off the island -- "everyone" would vote for the "Permian."

    And then the day we have a massive carbon tax and no one can afford oil at all -- sort of like the yellow vests in France -- we can take oil off the "Permian standard."

    ******************************
    Update

    One day later, November 29, 2018, this update from Bloomberg regarding the Mexico story above:
    Today, this story from Bloomberg: Pemex has more than tripled its estimated reserves in its Ixachi field. Data points:
    • the onshore field in Veracruz is now estimated to contain 1.3 billion boe in proven, probably and possible ("3P") reserves
    • the story sticks with max production at 80,000 bopd (see Platts above, and my comments
    • the field is currently producing about 2,000 bpd of condensate; hopes to get to 5,000 bpd of condensate by end of 2019
    • development costs for Ixachi: $1.47 billion for 40 wells = I've done the math three times -- see if you get a different number -- $1.47 billion for 40 wells = $36,750,000 / well 
    • this is Mexico's most important onshore field in 25 years, Pemex says -- if so, Mexico is in a heap of trouble .. 2,000 bbls of condensate a day and that gets them excited
    • Mexico currently produces about 1.8 million bopd, down from a recent target of 1.95 million bopd
    ****************************************
    The Christmas Page

    Baby, Please Come Home, Darlene Love

    Re-Posting: I Wish I Had Said That -- The "Economically Viable" Bakken Footprint Grows Bigger -- November 28, 2018

    Re-posting from this morning:

    New York Movers And Shakers Appear Envious

    Updates

    Later, 3:32 p.m. CT: see first two comments [at the link above] regarding how much better the Bakken wells have become over the years. Now this very observant comment from another reader:
    The subtle importance of Larne's comment ought not to be underestimated as it pertains to the Bakken, other shale plays, and future potential shale targets. 
    To now drill WAY faster, with more precision, and MUCH higher recovery factor (20%+ according to some operators) will vastly expand the US productive acreage.

    I strongly suspect that Helms et al want an updated USGS assessment for the Bakken as the current recovery rate of OOIP is now 3 to 5 times higher than earlier when the USGS projected 7+ billion barrels oil Technically Recoverable Resource (TRR).
     Original Post

    Speculators buying up mineral rights in eastern Montana for pennies. The article is behind a New York Times paywall. It's been my experience that if these "efforts" pay off, it is the grandchildren that benefit. The vast majority of these mineral acres will never be developed. But they are great for "flipping" to unsophisticated investors who get caught up in the "Bakken revolution."

    Good luck to all.

    Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or think you may have read here.

    We saw a lot of this in North Dakota some decades ago. My hunch is that Harold Hamm picked up a lot of minerals in North Dakota many, many years ago, well before the boom.

    From the linked op-ed:

    Gasoline Demand Not Showing Much Movement -- Despite Record Low Prices -- November 28, 2018

    Link here.

    This morning at Murphy (Walmart), regular unleaded was selling for $1.919/gallon.

    By the way, do we need to say "regular unleaded" any more. Is there anywhere in the US where they are selling "leaded" gasoline?

    I digress.

    Gasoline is very, very inexpensive (except in California) and yet the demand ....

    It looks like there might be a subtle change -- the four-week average is less than the four-week average on year ago, but gasoline demand this past week was slightly more than gasoline demand for the same one-week period a year ago (at least if I'm reading the numbers correctly):


    **************************************
    The Christmas Page

    Our little Charlie Brown Christmas tree now has a string of lights. I think it will look better once we put a bulb or two on it.


    Ah, Yes -- The Hess SC-Hoving Wells Have Been Fracked -- November 28, 2018

    This well suggested that the SC-Hoving wells have been fracked. Note that it was a great well that came off line in August, 2018, and then in September, 2018, came back on line (yes, just that one day). I checked one other neighboring SC-Hoving wells and it was fracked in September, 2018. I assume the other SC-Hoving wells have been fracked.

    This well:
    22946, 1,122, Hess, SC-Hoving 154-98-1003H-1, Truax, t9/12; cum 305K 9/18; recent production --
    PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
    BAKKEN10-20181801000
    BAKKEN9-20180000000
    BAKKEN8-20184192011146238141
    BAKKEN7-201831206921124914692435131
    BAKKEN6-2018301814212345139193244384
    BAKKEN5-2018312080221260445113623582
    BAKKEN4-20182919381898463388016661940
    BAKKEN3-2018312293198150440783410365
    BAKKEN2-2018281622167776045383832454
    BAKKEN1-20183123942512637484825232033

    The graphic:


    The other wells in the graphic (will be updated when the completions are reported):
    • 29690, SI/NC, Hess, SC-Bingeman-154-98-0904H-6, Truax, t--; cum --
    • 30633, SI/NC, Hess, SC-Hoving-LW-154-98-1003H-1, Truax, t--; cum --
    • 29689, 878, Hess, SC-Bingeman-154-98-0904H-5, Traux, t7/15; cum 158K 9/18; off line as of 7/18;
    • 29688, 779, Hess, SC-Bingeman-154-98-0904H-4, Traux, t8/15; cum 128K 9/18; off line as of 8/18; 
    • 29687, 985, Hess, SC-Bingeman-154-98-0904H-3, Traux, t7/15; cum 82K 9/18 -- recent production; note that is has just come back on line:
    PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
    BAKKEN10-2018147015772801000
    BAKKEN9-2018000037370
    BAKKEN8-20180000000
    BAKKEN7-201800660000
    BAKKEN6-201891953503431072104213
    BAKKEN5-2018311085123911904768466343
    BAKKEN4-2018281060993133840553333667
    BAKKEN3-2018311210123213514050395144
    BAKKEN2-201828112585113853097302518
    BAKKEN1-201862463044316186033
    • 29696, 1,424, Hess, SC-Bingeman-154-98-0904H-2, Truax, t7/15; cum 214K 9/18 -- recent production (note: it is currently off line):
    PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
    BAKKEN10-2018002130000
    BAKKEN9-2018000037370
    BAKKEN8-2018125541469683296028641
    BAKKEN7-2018302435203715328646838673
    BAKKEN6-20183021701966133985697819620
    BAKKEN5-20183025923010101267146509119

    34169, SI/NC, Hess, SC-Hoving-154-98-1003H-4, Truax,
    34168, SI/NC, Hess, SC-Hoving-
    34167, SI/NC, Hess, SC-Hoving-