Thursday, May 21, 2020

CLR's Holstein Federal Is Back On Line -- May 21, 2020

The well:
  • 27564, 1,235, CLR, Holstein Federal 2-25H, Elm Tree, 40 stages, 4 million lbs, t2/15; cum 768K 3/20; off line as of 11/19; remains off line 2/20; back on line 3/20;
Recent production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN3-202031806780973395413537190
BAKKEN2-20200000000
BAKKEN1-20200000000
BAKKEN12-20190000000
BAKKEN11-201910013700
BAKKEN10-2019242509260915549757937372
BAKKEN9-2019302543242814016080560390
BAKKEN8-201931315731271873105631006593
BAKKEN7-2019313125329019475150464693
BAKKEN6-2019303367335221197227673290

The CLR Holstein Federal wells are tracked here.

American Shopping -- Random Note -- Nothing About The Bakken -- May 21, 2020

Sale:
  • everything 60% off during the month of May, 2020
  • an additional 20% off over the five-day Memorial Day "weekend"
So, question: if one buys something with a "regular" price of $100, what is the sale price over Memorial Day weekend?

Two ways to figure it, I suppose. The first way would be the simpler way but would be wrong: 60% off plus an additional 20% off could mean a total of 80% off. If so, one would pay $20 for a regularly-priced $100-item. But that would be wrong.

The correct way:
  • regular price: $100
  • sale price, 60% off: $40
  • an additional 20%: $32 -- final price
What sale is this: the Swarovski Crystal store at the Grapevine Mills shopping mall on the northeast side of Grapevine, TX.

Arianna, our oldest granddaughter, and I drove out to the mall to see how things were going as the state of Texas starts "re-opening."

Crickets.

But, wow, talk about sales.

I've never seen such an incredible Swarovski sale as this one. My wife and I collected a bit of Swarovski when we lived in Europe many years ago:
  • the dollar was very, very "strong," making Swarovski a "good" buy to begin with;
  • we bought it in the military exchange where their prices were even better because they bought in volume; and, NO sales tax at military exchanges;
  • decades ago, Swarovski was not yet an "item" and much less expensive then than now;
Since Europe, we haven't bought any more Swarovski crystal, but at 60% off with an additional 20% off (68% off, it appears), it was crazy not to pick up some items.

And we did.

***********************************
Steak

Over the past month or so, I've written on the blog and in private e-mails about my new-found excitement of grilling steaks directly on FOGO.

I have mentioned often on the blog that I am partial to Omaha Steaks when ordering on line, although I seldom order for myself. There are too many options here in Texas and at much better prices. I order for my son-in-law in Portland, OR, and my brother-in-law in Huntington Beach, CA.

A reader suggested Crowd Cow.

Today, of all things, that reader sent me a link to Forbes: "The Best Places To Order Steak Online."

And get this: the article was dated May 20, 2020. LOL. The writer must be reading the blog. 

The list:
  • Porter Road
  • FreshDirect
  • Rastelli's
  • Kansas City Steak Company
  • Snake River Farms
  • Crowd Cow
  • FarmFoods
  • Omaha Steaks
Interestingly, I first came across Omaha Steaks about thirty years ago when I had a subscription to Forbes. At that time, Omaha Steaks ran a one-inch ad in every issue of Forbes.

Another list, also very recent, 2020, at urbantastebud. Be sure to read the social media comments regarding this list.


Buying steaks on line is lot like buying wine, I suppose. Decades ago, Herb Caen wrote this in the San Francisco Chronicle:
It's not difficult to find a great wind; the challenge is finding a great wine at a great price.
I've always remembered that line, although Herb Caen probably said it a bit better.

From wiki:
"The secret of Caen's success", wrote the editor of a rival publication, was: his outstanding ability to take a wisp of fog, a chance phrase overheard in an elevator, a happy child on a cable car, a deb in a tizzy over a social reversal, a family in distress and give each circumstance the magic touch that makes a reader an understanding eyewitness of the day's happenings.
My hunch Caen would have a lot to say about the current state of affairs in San Francisco. 

Now that I am reminiscing about Herb Caen -- I would have been reading his column, 1977 to 1980, when we stationed at an Air Force base near San Francisco, before we were transferred overseas to Germany -- and reminiscing about seeing Omaha Steak ads in Forbes decades ago, it seems we lived in much simpler times fifty years ago and enjoying it much more.

I had a whole lot less disposable income then, but somehow those days seemed a whole lot more carefree. And even then I was working 100 hours a week.

Back then, the state of California had no rules/laws limiting the number of hours physicians-in-training could work. One-hundred-hour work weeks were not uncommon -- in fact, for surgeons, it was the norm. In 2011 that all changed; in 2017, it all changed again. See this story in The Los Angeles Times.

But before 2011, let's see:
  • Monday - Friday: 0600 - 2000 (14 hours x five days = 70 hours)
  • Saturday: 0600 - 0600 (24 hours)
  • Sunday: 0600 - 1400 (8 hours)
  • 102 hours
Of course, that was the hours at / in the hospital.

I must have done a bit of reading at home before I went to bed, looking up cases, etc.

We were younger then.


My Back Pages, Bob Dylan

The Slawson Skybolt Wells And Lightning Federal Wells -- May 21, 2020

A reader suggested I update the Slawson Skybolt wells:
  • 18287, 911, Slawson, Skybolt 1-24H, Big Bend, t1/10; cum 356K 3/20;
  • 20423, PNC, Slawson, Skybolt 2-24H, Big Bend,
  • 29958, PNC, Slawson, Skybolt 9 SLTF2H, Big Bend,
  • 29959, 1,590, Slawson, Skybolt 1-SLH, Big Bend, t9/15; cum 331K 3/20;
18287, production period of interest:

BAKKEN12-2015261101010578504085027667705
BAKKEN11-20150000000
BAKKEN10-20150000000
BAKKEN9-20150000000
BAKKEN8-2015294910070136801358
BAKKEN7-20150000000
BAKKEN6-20150000000
BAKKEN5-20150000000
BAKKEN4-20151190031026
BAKKEN3-20153384732561229
BAKKEN2-2015285243661255594190
BAKKEN1-2015311410139341621151622338
BAKKEN12-20143113891153478163514800
BAKKEN11-2014301351140741220221582290
BAKKEN10-20143113981415424220720520

But it looks like the Slawson Lightning Federal wells to the east are even better:
  • 20422, 685, Slawson, Howitzer 2-25H, Big Bend, t10/11; cum 329K 3/20; the scout ticket says it is still flowing without a pump; on same pad as the Lightning Federal wells but runs south, instead of north;
  • 30412, 2,684, Slawson, Lightning Federal 6-24-13TFH, Big Bend, t4/16; cum 477K 3/20;
  • 30413, 1,008, Slawson, Lightning Federal 2-24-13H, Big Bend, t4/16; cum 252K 3/20;
  • 30414 1,622, Slawson, Lightning Federal 7-24-13TFH, Big Bend, t4/16; cum 457K 3/20;

Slawson With Two New Permits In Big Bend Oil Field -- May 21, 2020

OPEC basket: $28.43

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

Active rigs:


$33.925/21/202005/21/201905/21/201805/21/201705/21/2016
Active Rigs1466615125

Two new permits, #37591 - #37592, inclusive --
  • Operator: Slawson
  • Field: Big Bend (Mountrail)
  • Comments:
    • Slawson has permits for two Loon Federal wells in NENW 24-152-92, Big Bend oil field
Three producing wells (DUCs) reported as completed:
  • 36704, SI/A, Iron Oil Operating, Antelope 2-35-26H, Antelope, t--; cum 52K over 2.5 months;
  • 36429, drl/A, MRO, Ardis USA 21-4TFH, Reunion Bay, t--; cum --;
  • 26803, SI/A, XTO, Cole 44X-32C, Siverston, t--; cum 98K over 58 days; 55K over 27 days extrapolates to 61,314 bbls over 30 days;


Project Tundra Update; Minnkota Wildcat WIth Rig On Site; Spudded One Week Ago -- May 21, 2020

Updates

Later, 11:35 a.m. CT: wow, this is really cool. Very nice of a reader to write / note this. In my original post I mentioned that I did not know how long the rig had been on site (see below). A reader wrote:
 
The ACTVE RIG LIST [no subscription needed] link on the NDIC website says that the rig spudded May 14, 2020
 
When you click on the link on the homepage, scroll down.  Rigs are listed by County alphabetically. 
Very, very nice to know. I'm embarrassed that I overlooked another great service provided by the NDIC. I don't follow other states (closely) at all, but it has certainly been my impression that North Dakota / the NDIC is a) very, very transparent; and, b) very, very customer-oriented. Their sites are very, very user-friendly.

Original Post

The February 10, 2020, daily activity report, showed the following permit, which was corrected in the February 11, 2020, daily activity report (this is the correct permit):
  • 37380, conf, Minnkota Power Cooperative, Inc, J-Loc 1, Oliver County, Wildcat, 1373' FNL and 22515' (sic) FWL, 'confidential', 2068' ground, API #333-053-99194;
The correct siting if, of course, 1373 FNL 2515 FEL.

The original note regarding this permit is at this post.

I noted, at the time:
Minnkota Power Coop has a permit for a wildcat well in SWNE section 27-142-84; Oliver County, far to the east of the Bakken; this is Minnkota's first permit in North Dakota;
A reader expanded:
The Minnkota Power Coop permit is a geologic test well for the Project Tundra Carbon capture project that is progressing. Its part of the front end engineering design portion of the project that is currently under way in order to decide whether or not the project is ultimately built or not.
This is tagged: "ProjectTundra."

Today, I noted there is a rig at this location. It's possible it's been there for weeks or months and I simply had not noticed. Regardless, the NDIC now shows a rig on site. [Update: see updates above. A reader notes that the NDIC reported that this well was spudded May 14, 2020, just one week ago.]

Graphic:


This Minnkota well is to the southeast, and outside, of the Bakken/Three Forks.

Three Wells Coming Off Confidential List Today -- May 21, 2020

Jobless claims, link here:
  • prior: 2.981 million
  • forecast: 2.375 million
  • actual: 2.428 million
OPEC Basket: $28.43. Despite the jump in prices, OPEC basket is still below $30.

*******************************
Fast And Furious

Headlines without links in most cases. Stories easily found through Google.

USC scandal: Actress Lori Loughlin, husband to plead guilty in college entrance exam. 

Dak Prescott: $175 million for five years. Not yet signed. Deadline July 15.

NASCAR: as predicted, huge television ratings.

BLM slashes royalties on federal oil, gas leases.

New Mexico: BLM abruptly postpones lease sales.

Saudi Aramco / SABIC deal in jeopardy.

American heartland desperate for pickup trucks.

Michigan: massive flooding has interesting back story.

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

Active rigs:


$34.195/21/202005/21/201905/21/201805/21/201705/21/2016
Active Rigs1466615125

Thee wells coming off confidential list today  -- Thursday, May 21, 2020: 64 for the month; 114 for the quarter, 341 for the year:
  • 35930, drl/drl, XTO, Mandal Federal 41X-29DXA, Haystack Butte, t--; cum --;
  • 35231, 1,037, Nine Point Energy, Helling 150-101-7-6-6H, Pronghorn, t12/19; cum 98K 3/20;
  • 35448, drl/drl, Hess, BB-Federal B-151-95-2122H-11, Blue Butte, t--; cum --;
RBN Energy: what's ahead for northeast NGL production, exports and wintertime supply?
The Marcellus/Utica production region in the northeastern U.S. is not immune to the upheaval in global energy markets. There, a number of E&Ps are implementing further cutbacks in their natural gas production. That will result in lower NGL production, which may have serious implications for regional supplies of propane for heating this coming winter. LPG exports out of the Marcus Hook terminal near Philadelphia also may be impacted. Today, we look at recent developments in the Marcellus/Utica and the potential effects of lower NGL production in the region.
It has been a wild couple of months in energy markets, including the markets for NGLs.
For a few days in late April, a barrel of propane was worth more than a barrel of crude oil. That isn’t supposed to happen, folks. Partly it was a supply thing: production of crude oil and associated gas is declining, bringing propane supplies down with it. At the same time, though, demand for propane from U.S. steam crackers and from international markets has been relatively steady. As a result, we already are seeing flows, price relationships and differentials convulsing in response to the new reality, and projections of future supply/demand imbalances suggest a previously unthinkable possibility: a U.S. market that can’t get enough propane supply, especially if the winter of 2020-21 is a cold one.