Tuesday, September 10, 2019

Two New Permits -- September 10, 2019

I was complimenting my wife on how smart she was earlier this evening. I asked her if she was naturally smart, or if she learned a lot from me. She's still laughing. 

The Illinois rail spill earlier today apparently did not involve Bakken crude oil:
In a news release, Union Pacific said the train derailed at its yard at about 12:45 p.m. Initial information said the tank car that first caught fire contained a liquid called methyl isobutyl ketone, which is typically used as a solvent.
Thank goodness it wasn't that highly volatile Bakken crude oil.

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

Active rigs:

$57.859/10/201909/10/201809/10/201709/10/201609/10/2015
Active Rigs6466553770

Two new permits, #36948 - #36949, inclusive:
  • Operator: Whiting
  • Field: Sanish (Mountrail)
  • Comment: 
    • Whiting has permits for a 2-well Arndt pad in section 24-154-92, Sanish oil field.
Eight permits renewed:
  • Petrogulf (4): four Three Tribes permits in McKenzie County
  • MRO (3): an Arnew, an Erbe, and an Archie permit, all in Dunn County
  • Whiting: one Kessel Federal permit in Billings County

Updating The Slawson Torpedo Federal Wells -- September 10, 2019

Updates here.

For those who forgot, this was not a typo.

The well:
  • 31278, 4,862, Slawson, Torpedo Federal 10H, t12/18; cum 178K after 41 days; see this post;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-201931339213404510982312619317141
BAKKEN6-2019222958530475294521657912787471
BAKKEN5-2019303680137642262492255717513935
BAKKEN4-2019291369241352729353598300798053959
BAKKEN3-2019415385156267510650604747
BAKKEN2-20190000000

North Dakota Rig Count Back Up To 64 -- September 10, 2019

Making America great: for first time ever, most new working-age hires in the US are people of color -- Washington Post, today.  Democrat response (see comments at linked article):
  • Bernie: resist!
  • Buttigieg: change course!
  • Beto: re-set!
  • Biden: what just happened? We need to get back to "normal."
WTI: rising. 

Vitol Group sees unprecedented uncertainty.

LNG: almost half of new global small-scale liquefaction to be built in North America. Should reach 7,900 ktpa by 2023. "KTPA" = thousand tonnes per annum. We've been through this before. As recently as yesterday.

Texas: may get its first renewable diesel plant.

RBN Energy: Corpus Christi crude oil exports surge to a record.
Despite last month’s much-publicized start-up of two new crude oil pipelines from the Permian Basin to the Gulf Coast — Plains All American’s Cactus II and EPIC Crude Holding’s EPIC Pipeline — tangible evidence of how much crude is actually moving on those pipelines has been hard to come by. That’s because crude oil pipelines don’t post daily flow data, like some natural gas pipelines do, and shipper volumes are a closely held secret that often only becomes available long after the fact.
However, Cactus II and EPIC both deliver into the Corpus Christi, TX, market area, where a number of export facilities have been waiting to move Permian barrels out into the global market. We’ve been keeping a close eye on Corpus-area docks and have noticed a significant increase in export volumes over the last few days — a clear indication that Permian crude on Cactus II and EPIC has broken through to the global market. Today, we detail a recent rise in Corpus Christi oil export volumes driven by new supply from the Permian Basin.
Active rigs:

$58.509/10/201909/10/201809/10/201709/10/201609/10/2015
Active Rigs6466553770

Wells coming off the confidential list today -- Tuesday, September 10, 2019: 31 for the month; 163 for the quarter:
  • 35976, 1,311, Newfield, Sturgeon 150-99-18-19-11H, South Tobacco Garden, t7/19; cum 25K over 22 days;
  • 35953, SI/NC, RimRock, Two Shields Butte 5-7-8-8H3, Heart Butte, no producing data,
  • 35755, SI/NC, XTO, Tom State 34X-1EXH, Alkali Creek, no producing data,
  • 35517, SI/NC, Hess, EN-Perso-156-94-1102H-4, Big Butte, no producing data,
  • 32981, 76 (no typo), BR, State Dodge 2C TFH, Dimmick Lake, t5/19; cum 46K over 35 days;

Apple Announcements Today -- Live -- 12:00 Noon CT -- September 10, 2019

Today:



Investor's Business Daily, September 9, 2019 -- link here:
  • "AAPL stock has been moving sideways for seven years"
  • currently trading at $214/share
  • "buy point": $221/share
  • seven years ago: $98
  • seven years ago: initiated nice dividend
  • for past several years: huge stock buyback plan executed
  • for past several years; cash hoard growing
  • sounds alike an example of an analyst with "analysis paralysis"