Saturday, January 13, 2018

A "Monster" Well Has Been Updated -- Whiting's Liffrig Well In The Sanish -- January 13, 2018

Link here. At the linked post, note the sharp increase in production. FracFocus has no data to suggest this well was re-fracked.

Monster wells are tracked here.

Random Note On Enbridge -- January 13, 2017

I've always been fascinated by Enbridge. I first became aware of Enbridge during the early days of the Bakken boom. Enbridge had a relatively small operation south of Williston but it was impressive, and it seemed to be among the first big players in the Bakken. Since then, that operation (as "measured" by the footprint) has steadily grown. So, it's been interesting to watch Enbridge in the Bakken. 

Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on anything you read here or think you may have read here. With regard to Enbridge, I've owned a small amount of shares over the years but have no plans to buy any more shares in Enbridge. 

From Motley Fool, from a couple of days ago:
Last fall, Canadian pipeline giant Enbridge announced that it would increase its dividend 10% for 2018. That pushes the company's dividend-growth streak to an impressive 23 years, which is just two shy of the years necessary to become a Dividend Aristocrat.
Enbridge fully expects to lay claim to that title in 2020 since it also plans to increase its payout 10% in 2019 and 2020. Those future increases will push Enbridge's already impressive 4.7%-yielding dividend even higher.
Fueling Enbridge's fast-growing dividend are 22 billion Canadian dollars ($17.5 billion) of high-return expansion projects currently underway. The company expects recently completed expansions and those coming on line this year to increase its available cash flow from operations by about 15% in 2018.
That puts the pipeline giant on pace to grow cash flow by at least a 10% compound annual rate per share through 2020, providing it with the fuel to keep raising the dividend.
From an earlier post, December 27, 2017:

Enbridge: growth portfolio is underappreciated -- Morningstar.
Enbridge is positioned to benefit from growing oil sands supply dynamics with its Mainline system and regional oil sands pipelines. The regulated Mainline system generates attractive tolls and represents approximately 70% of Canada’s pipeline takeaway capacity. The system offers refinery access to various markets, adding to the network’s attractiveness.
While crude pipelines are Enbridge’s bread and butter, the company operates a diverse energy portfolio. Gas distribution operations benefit from regulated returns and provide the company with reliable cash flows. Enbridge also operates natural gas pipelines and processing assets that supplement its crude pipeline network. Future natural gas pipeline projects benefit from long-term contracts that are tied into emerging projects.
Recently, Enbridge finalized its acquisition of Spectra Energy. The deal positions Enbridge to diversify its operations toward natural gas. The company intends to increase its annual dividend and has maintained an average distributable cash coverage ratio of approximately 3 times over the past three years.
Overall, Enbridge is in a strong position to benefit from the growing oil sands supply, which we expect to outstrip pipeline takeaway capacity in the near term. We expect the Line 3 Replacement to help; we project it to be in service by the end of 2019 and fuel tremendous growth for the company. We believe the stock is undervalued based on the company’s vast growth portfolio, highlighted by the lucrative natural gas projects associated with the Spectra acquisition and the Line 3 Replacement.
Enbridge Energy Partners: 10% dividend just got safer -- Motley Fool.
Not only that, but management expects the payout to grow at around 3% per year through 2020. Investors were rightly shocked by the news, sending shares up by as much as 10%. Enbridge Energy Partners and its parent, Enbridge, Inc. (NYSE: ENB), have made multiple moves in recent years that would leave anyone's head spinning. But the ship seems to have been righted, and the stock's sky-high yield appears safe for the foreseeable future in light of the outlook's key details. In fact, for venturesome investors, EEP is a great high-yield stock to consider heading into the new year. 
Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on anything you read here or think you may have read here.

The BR Mathistad Wells In Croff Oil Field

Updates

January 14, 2018: see first comment. A reader has really made some interesting observations, including a great link.
Just a couple notes of interest:

The lateral for the Mathistad 2-35H runs 50 feet above and parallel to the 1-35H. It was originally owned by Continental Resources and was an experimental well partially funded by the State of North Dakota to determine possible communication between nearby laterals most notably the 1-35H. The details are on the attached link:

https://www.rigzone.com/news/oil_gas/a/79041/Continental_Reports_Successful_TwoReservoir_Test_in_Bakken_Shale

Also, there looks to be room for another 4 well pad between the new and older wells? 
And, then, of course, my reply: yes, there is more than enough room for another 4-well pad between the older well pads, and then, of course, vertically, additional benches in the Three Forks, possibly.

With regard to communication between formations, see this post: http://themilliondollarway.blogspot.com/2010/02/communication-between-formations.html, February 7, 2010.

Also, this post from May 4, 2011.

Also, a "fracturing question," March 3, 2011.


Original Post 

Note production profile of two older Mathistad wells, scroll down to bottom of post. 

The Mathistad wells:
  • 16983, 15 (no typo), BR, Mathistad 1-35H, Croff, API: 33-053-02852, t6/08; cum316K 5/19;
  • 18013, 842, BR, Mathistad 2-35H, Croff, API: 33-053-03011, t7/09; cum 266K 5/19;
  • 33144, 318, BR, Mathistad 22A MBH, Croff, 30 stages; 10.5 million lbs, t10/17; cum 386K 5/19;
  • 33146, 273, BR, Mathistad 22B UTFH, Croff, 4 sections, Three Forks, 31 stages; 15 million lbs, t10/17; cum 371K 5/19;
  • 33152, 414, BR, Mathistad 6-8-35 MBH, Croff, 29 stages; 10 million lbs large, t11/17; cum 487K 5/19;
  • 33150, 655, BR, Mathistad 3NC-MTFH, Cross, 4 sections, Three Forks, 29 stages; 14.5 million lbs, t11/17; cum 384K 5/19;
  • 33155, conf, BR, Mathistad 7-8-24 MBH, no production data,
The graphic:



Recent production for two older wells:
16983:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN11-20171532773289508283928020
BAKKEN10-20171000000
BAKKEN9-20170000000
BAKKEN8-201723894685286155815010
BAKKEN7-20173011361109256197719030
BAKKEN6-20173011561349196192818540
BAKKEN5-2017311132905228211120340


18013:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-20181117761638336172817010
BAKKEN12-20172755285169958581457470
BAKKEN11-20171530243084621289928620
BAKKEN10-20170000000
BAKKEN9-20170000000
BAKKEN8-201711411597448478220
BAKKEN7-20173114611350213289728200
BAKKEN6-20173014491597141257324990
BAKKEN5-20173115751586165267525980
BAKKEN4-20172817881576170230522350

16983:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-201831600359301024663565580
BAKKEN12-2017316246628016217012687461
BAKKEN11-20171532773289508283928020
BAKKEN10-20171000000
BAKKEN9-20170000000
BAKKEN8-201723894685286155815010
BAKKEN7-20173011361109256197719030
BAKKEN6-20173011561349196192818540

Week 2: January 7, 2018 -- January 13, 2018

Equity market surged this past week; WTI solidly above $64/bbl -- at least for a day or two.

The US is hit by a cold snap; natural gas drawdown sets record; record year for natural gas.

Operations
Active rigs up to 56 just as winter hits hard
An old Williston Airport well now flaring again
Old MRO well with jump in production
Old Slawson well with jump in production 
CLR with a 25-million-lb frack
Bakken resurgence -- RBN Energy
Some suggest weather will hurt Bakken production
Hess reports five completed DUCs
WPX with a record-breaking Bakken well

Operators
New operator in the Bakken
New operator in the Bakken

CBR
Canadian CBR is booming

Other formations
Update on the Tyler

Bakken economy
Bakken truck traffic increases
ND farmers unhappy with tax bill; will get it changed
Mapping Williston's new airport

Bakken 101
Spot price of Bakken oil at Flint Hills Resources 

Too Big To Fail -- January 13, 2018

Two links:

Blackrock:
  • net inflows for the year (2017) $367 billion; sets a new record
  • $1 billion of new client cash every day
  • passed $6 trillion in assets for the first time
  • up more than $1 trillion from the end of 2016
  • most new cash (67%) went to it iShares ETFs -- low-cost products tied to indexes
  • iShares finished 2017 with more assets than BlackRock's actively managed products for the first time
  • pace of new investor cash puts BlackRock in same league as rival Vanguard Group
  • Vanguard Group
  • $369.3 billion in new money last year (2017)
  • ended 2017 with $4.9 trillion
  • everyone else "fighting for scraps"
  • Vanguard and BlackRock together: $11.2 trillion -- higher than the GDP of China in 2016
  • BlackRock topped $5 trillion in assets at the end of 2016
  • BlackRock has a larger international business than Vanguard