Thursday, September 6, 2018

Updating A Bruin Fort Berthold Well In Antelope Oil Field That Produced 150K in Two Months; Section 151-94-26 -- September 6, 2018

Updates

October 18, 2019:
Full production this well --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH8-201931181161812713274509363157514284
SANISH7-201931220252214814986415942347513814
SANISH6-2019191264012693854525159576215748
SANISH5-2019272108020966143204198264035247
SANISH4-201930243952436615743486051391626329
SANISH3-201931318923202918084732304441019011
SANISH2-20192828425283812043753934398336426
SANISH1-201931350233497722366625964017512596
SANISH12-201824241102440516587514312843518516
SANISH11-20182214137142131292422550967610733
SANISH10-201831436914382230933650252755932588
SANISH9-20183052975530445615060629460675677
SANISH8-201831725167240863718906714548039524
SANISH7-201831638006364674543906084289342889
SANISH6-201830953159595967134672113723225562
SANISH5-20181577996657261691392175723178
SANISH4-20180000000


Updating this well, original post here:


Original post has graphic and additional information.

The wells:
  • 22708, 1,776, Bruin E&P, Fort Berthold 151-94-26B-35-2H, Antelope, t4/14; cum 344K 8/19; nice bump after coming back online;
  • 20328, 1,647, Bruin E&P, Fort Berthold 151-94-26B-35-1H, Antelope, t3/12; cum 568K 8/19; offline since 1/18; back on line 9/18;
  • 22707, 1,959, Bruin E&P, Fort Berthold 151-94-26B-35-3H, Antelope, t4/14; cum 580K 8/19; offline since 1/18; back on line 9/18;

  • 30541, 4,871, Bruin E&P, Fort Berthold 151-94-26A-35-4H, Antelope-Sanish, t6/18; cum 568K 8/19;

DateOil RunsMCF Sold
7-20186364642893
6-20189595937232
5-201866577572

  • 30542, 2,010, Bruin E&P, Fort Berthold 151-94-26A-35-5H, Antelope-Sanish, t6/18; cum 184K 8/19;
  • 30543, 2,837, Bruin E&P, Fort Berthold 151-94-26A-35-6H, Antelope-Sanish, t6/18; cum 349K 8/19;

DateOil RunsMCF Sold
7-20185308234423
6-2018444033904
  • 30544, 1,129, Bruin E&P, Fort Berthold 151-94-26A-35-7H, Antelope-Sanish, t6/18; cum 116K 8/19;
  • 30545, 2,070, Bruin E&P, Fort Berthold 151-94-26A-35-8H, Antelope-Sanish, t6/18; cum 310K 8/19;
  • 30546, 661, Bruin E&P, Fort Berthold 151-94-26A-35-9H, Antelope-Sanish, t7/18; cum 135K 8/19;

  • 31774, 5,058, Bruin E&P, Fort Berthold 151-94-27A-34-16H, Antelope-Sanish, t7/18; cum499K 8/19;
DateOil RunsMCF Sold
7-20186033816676

  • 31775, 2,402, Bruin E&P, Fort Berthold 151-94-26B-35-15H, Antelope-Sanish, t8/18; cum 190K 12/18;
  • 32431, 4,215, Bruin E&P, Fort Berthold 151-94-26B-35-13H, Antelope-Sanish, t7/18; cum 188K 12/18;
  • 31776, 1,992, Bruin E&P, Fort Berthold 151-94-26B-35-12H, Antelope-Sanish, t8/18; cum 101K 12/18;
  • 31777, 3,376, Bruin E&P, Fort Berthold 151-94-26B-35-11H, Antelope-Sanish, t7/18; cum 182K 12/18;
  • 31778, 1,549, Bruin E&P, Fort Berthold 151-94-26B-35-10H, Antelope-Sanish, t8/18; cum 73K 12/18;

Ares Management Acquires Paradigm Energy Partners -- September, 6, 2018

An alert, eagle-eyed reader caught this next story. I'm impressed.

Go back to this 2014 post for the background to this story:
Phillips 66 Partners and Paradigm Energy Partners announce midstream logistics joint ventures: Co and Paradigm Energy Partners, LLC announce that they have executed agreements to form two joint ventures to develop midstream logistics infrastructure in North Dakota. Consisting of two previously announced projects, the Sacagawea Pipeline and Palermo Rail Terminal, the joint ventures are designed to enhance logistical options for crude oil transportation in the Bakken region.
From an earlier press release:
The Sacagawea Pipeline project is being developed to deliver crude oil from various points south of Lake Sacagawea in and around Johnson's Corner and Keene, in McKenzie County, North Dakota, to destinations with takeaway options for both rail and pipe in Palermo and Stanley, N.D.
SPC has received significant shipper interest in committing to the project, and based on such, anticipates receiving sufficient shipper commitments to proceed with the project.  All potential customers will have an equal opportunity to obtain capacity in the project and must submit binding commitments prior to the conclusion of the open season process.
More at the link.

Now, today we have this story, sent in, as I noted, a very, very alert reader. From a press release:
Ares Management, L.P. (NYSE:ARES) announced today that funds managed by Ares EIF, its power and infrastructure strategy, have closed on the acquisition of substantially all of the assets and business interests of Paradigm Energy Partners from an affiliate of Stonepeak Infrastructure Partners.
The Paradigm assets will be combined with Ares EIF’s adjacent Van Hook Gathering System, which it acquired in 2015, to form a premier regional midstream platform serving the core of the Williston Basin in North Dakota, with additional reach into the prolific Eagle Ford Shale in South Texas.
The combined entity, which will continue to be known as Paradigm, will continue to be operated by Paradigm’s existing management team and employee base.
The acquisition consists of two oil and natural gas gathering systems in North Dakota and a third in South Texas, along with joint venture interests in the Sacagawea Pipeline Company and various logistics assets in North Dakota.
By year end 2018, the combined company is expected to transport nearly 50,000 barrels of oil and 23 million cubic feet of gas per day from 11 contracted customers in North Dakota and Texas.

Daily Activity Report Posted A Day Late -- September 6, 2018

Active rigs:

$67.919/6/201809/06/201709/06/201609/06/201509/06/2014
Active Rigs65563375196

Eight new permits:
  • Operators: Crescent Point Energy (5); EOG (2); Resource Energy Can-Am
  • Fields: Ellisville, Parshall, Ambrose
  • Comments: for newbies -- note the chronologic numbers for the EOG Burke wells;
  • 35407: Resource Energy Can-Am LLC, Pacer 3427-164-99-5H, Ambrose
  • 35408: EOG, Burke 78-3501H, Parshall,
  • 35409: EOG, Burke 79-3501H, Parshall,
  • 35410: Crescent Point, CPEUSC Austin 8-17-20-158N-99W-LL TFH, Ellisville,
  • 35411: Crescent Point, CPEUSC Austin 2-17-20-158N-99W MBH, Ellisville,
  • 35412: Crescent Point, CPEUSC Narcisse 2-8-5-158N-99W MBH, Ellisville,
  • 35413: Crescent Point, CPEUSC Austin 5-17-20-158N-99W TFH, Ellisville,
  • 35414: Crescent Point, CPEUSC Narcisse 5-8-5-158N-99W TFH, Ellisville,
One permit canceled: WPX, a Spotted Horn permit in McKenzie County.

Three producing wells (DUCs) reported as completed:
  • 32479, 2,701, XTO, Werre Trust Federal 14X-34AXB, Bear Creek, t7/1; cum 25K after 15 days;
  • 32378, 2,540, XTO, Werre Trsut 21X-3B, Bear Creek, 60 stages; 17.9 million lbs, t6/18; cum 104K after two months;

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-20183143782442504888321876659015095
BAKKEN6-201830536795275955199000
BAKKEN5-20186283421422641000
BAKKEN4-201812602860000
BAKKEN3-201816311830720000

33259, A, Whiting, Wold Federal 44-7-1H,  t--; cum --





Time for a song:

Lonesome Friends of Science, John Prine

US Gasoline Inventories Soar; Crude Oil Has A Substantial Draw -- But It Must Be The Gasoline Inventories That Drove A 2% Drop In The Price Of WTI -- September 6, 2018

Updates

September 7, 2018: But take a look at this. Reuters suggests US crude oil stockpile decline -- more than expected last week -- is a bullish sign --  
U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose.

Crude inventories fell 4.3 million barrels in the week to August 31, 2018, compared with analysts' expectations for a decrease of 1.3 million barrels. The decline brought stockpiles to 401.49 million barrels, the lowest levels since February 2015.
Stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures rose by 549,000 barrels, EIA said.
"The large crude oil inventory drawdown makes for a bullish report, despite the appreciable gains in refined product inventory levels," said John Kilduff, a partner at Again Capital Management in New York.
Refiners' demand for crude oil and drivers' demand for gasoline remain supportive of the market, with gasoline demand remaining near the highest levels of the season, he said. Still, he cautioned that rising stockpiles at Cushing were somewhat bearish.
 Original Post

This is certainly weird and proves the rule: predicting the price of oil is a fool's errand.

WTI falls 2% even though the EIA reports a substantial crude oil draw.
  • US crude oil inventory draw of 4.3 million bbls; inventories now stand at 401.5 million bbls; my threshold = 400 million bbls; we're practically there
  • refineries operating at only 96.6% capacity
  • gasoline production decreased a bit last month; now averaging less than 10 million bbls/day over the past four weeks
  • distillate fuel, on the other hand, is up about 3% over the past four weeks
  • but jet fuel is the big story (and a lot of CO2 emissions): jet fuel product supplied was up over 5% compared with same four-week period last year
  • but this is what is probably driving crude oil down in price today: total motor gasoline inventories increased by 1.8 million bbls last week -- an astounding 7% above the 5-year average for this time of the year -- with that inventory, one would think refineries will request less crude oil going forward, and already refinery are operating at less than 97% capacity after recently being near 99%
The gasoline demand graph:


Natural gas fill rate: link here.


MRO Re-Frack -- For Newbies -- The Life-Cycle Of A Bakken Well -- September 6, 2018

The well:
  • 17498, 498, MRO, Chimney Butte 34-11H, Bailey, t11/08; cum 256K 7/18; API - 33-025-00804; a re-frack; 
  • on re-frack: 
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-20182832033320783508720329516612950
BAKKEN6-20182840585395717999239267636507
BAKKEN5-20180000000
BAKKEN4-20180000000
BAKKEN3-20180000000
BAKKEN2-20180000000
BAKKEN1-20180000000
BAKKEN12-20170000000
BAKKEN11-20170000000
BAKKEN10-201700320000
BAKKEN9-2017296756903566380397

After the original frack back in 2008:
BAKKEN3-20093135753420600214221420
BAKKEN2-20092834003399553171417140
BAKKEN1-20093049154829862263526350
BAKKEN12-20082634313808200115611560
BAKKEN11-20082877537263232740108223188
BAKKEN10-20082228462703135146801468

152-93-30 -- MRO Wells, Reunion Bay

The graphic:


The wells:
  • 22288, 1,466, MRO, Joanne Quale USA 21-30H, Reunion Bay, t1/13; cum 393K 8/19; huge jump, 12/18;
  • 22289, 1,444, MRO, Joanne Quale USA 21-30TFH, Reunion Bay, t12/12; cum 382K 8/19; nice jump, 6/19;
  • 33923, 6,179, MRO, Maleckar USA 31-30H, Reunion Bay, t1/19; cum 238K 8/19; 74K first full month
  • 33924, 5,517, MRO, Skadeland USA 31-30TFH, Reunion Bay, t1/19; cum 175K 8/19;
  • 33925, 5,395, MRO, Wendell USA 31-30H, Reunion Bay, t1/19; cum 192K 8/19;
  • 34597, 3,679, MRO, Sheldon USA 21-30TFH, Reunion Bay, t1/19; cum 207K 8/19;
  • 24620, 5,601, MRO, Coburn USA 41-30TFH, Reunion Bay, t1/19; cum 188K 8/19;
  • 24621, 5,414, MRO, Bobby Lee USA 41-30H, Reunion Bay, t1/19; cum 187K 8/19;
  • 33928, 5,935, MRO, Honaker USA 41-30TFH, Reunion Bay,t1/19; cum 221K 8/19;
  • 24622, 1,448, MRO, Annie USA 11-29TFH, Reunion Bay, t2/13; cum 283 8/19; offline since 2/18; back on line 4/19; no jump in production;
  • 33927, 4,722, MRO, Zelda USA 11-29H, Reunion Bay, t1/19; cum 187K 8/19;
  • 33926, 3,943, MRO, Cantrill USA 11-29TFH, Reunion Bay, t1/19; cum 221K 8/19;
************************
Initial Production

33926:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2019198095811481041336491943375
BAKKEN7-2019311350413703160172908772927155
BAKKEN6-201930166971658416328357741635217998
BAKKEN5-20193120673208341986942377570534972
BAKKEN4-201930255142551420060321971350516699
BAKKEN3-20192934242343622626936917182732543
BAKKEN2-201925365373714429587289231416212118
BAKKEN1-201929650726408155081668555462284
BAKKEN12-2018230102955160497

33927:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-20193199399885805734678266277218
BAKKEN7-20193111665116909201372291506521230
BAKKEN6-2019301291712980995844321572237592
BAKKEN5-2019311655317325117161034991022
BAKKEN4-201930213752074513276527311128839908
BAKKEN3-201931337103371018757682382168044206
BAKKEN2-201924309603076425528588512163135069
BAKKEN1-20191949692497722523466721567957704
BAKKEN12-2018239201574270402

33928:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-201931818281451298936367279027734
BAKKEN7-2019319949999214968419041693024126
BAKKEN6-20193011920120031742851393661243809
BAKKEN5-201931164321719122148571301073045129
BAKKEN4-201930210642049526711651971399649645
BAKKEN3-201931366543666137849734062352847320
BAKKEN2-201927340863404827825591312330933457
BAKKEN1-201928829698244781576109051852194984
BAKKEN12-20182005166060606


24621: January, 2019 extrapolates to -- 98370
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-20191972357296530815117104754045
BAKKEN7-20193111798117928611311221029719788
BAKKEN6-201930151251516110186346871128422059
BAKKEN5-20193118927190881204841622970130332
BAKKEN4-201930304553037219895572481487540017
BAKKEN3-20191926054262741591635050973023438
BAKKEN2-20192244141439962571753232987940147
BAKKEN1-20191032790324651811841754219737384
BAKKEN12-20182150142815510541

24620:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-201931881588651740628786218986045
BAKKEN7-201931125261253519088375581245623958
BAKKEN6-201930176041759321740376591209924030
BAKKEN5-20192516516167391987542863951231923
BAKKEN4-201930339243385033639646091677645203
BAKKEN3-201929308963099633751395261134725951
BAKKEN2-20192237442373464084447800888136180
BAKKEN1-20191130535302273028250264259145631
BAKKEN12-2018242402024650462

34597:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-201931143921444312479467543532910052
BAKKEN7-201931180061799214129516581710832928
BAKKEN6-201930224962248121007504171638232049
BAKKEN5-201925209092106019613475291052535257
BAKKEN4-201930312503131526042564961468239412
BAKKEN3-201929419704192530467686871864346947
BAKKEN2-20192234186340532800445762862534616
BAKKEN1-20191123358231262390434747195931227
BAKKEN12-20182837887845040

33925:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-20193079297957623223689179535000
BAKKEN7-20193199109900733526411873916798
BAKKEN6-201930121391218210342312641013520013
BAKKEN5-20193116751168371255342567986031250
BAKKEN4-201930218312201314487488471279034310
BAKKEN3-201931431844321123561746302073950668
BAKKEN2-20192541862417922592652129887840229
BAKKEN1-20191237848374832475548042243343105
BAKKEN12-201823533342146420619
 
33924:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-20193197489797990228475218925679
BAKKEN7-20193113356132601549625505837616044
BAKKEN6-2019207711779183061136969453700
BAKKEN5-201931161121617714626431261014731552
BAKKEN4-201930194801955819207450301180931651
BAKKEN3-201931299062996029983563211556838495
BAKKEN2-20192632278323982591740000682730844
BAKKEN1-20191746341458764106755390311249206
BAKKEN12-2018288831503190313

33923: January, 2019, extrapolates to 92236 --
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN8-2019311238512422876935611268167659
BAKKEN7-201931149901496211127400591320325534
BAKKEN6-201930170031705511340393421288224943
BAKKEN5-201931224702253116202495891154236160
BAKKEN4-201930245262466518714509331331135687
BAKKEN3-201931418194173527404665871848745016
BAKKEN2-20192630468308862575740795690031678
BAKKEN1-20192473789730465994782334489372552
BAKKEN12-20182868116912490243


*********************