Wednesday, June 3, 2020

CLR Reports Another Huge Wahpeton Well -- June 3, 2020

Active rigs:

Active Rigs1264605125

Six new permits, #37607 - #37612, inclusive --
  • Operator: MRO
  • Field: Antelope-Sanish (McKenzie)
  • Comments:
    • MRO has permits for a 6-well pad in SWNE 34-152-94 in Antelope-Sanish oil field;
      • all wells are about 1400 FNL and about 1800' FEL
      • Sainte Pierre USA; Robin USA; Shoberg USA; Black USA; Archer USA; Cavanaugh USA;
Three producing wells (DUCs) reported as completed:
  • 35915, SI/A, CLR, Wahpeton 17-16H, Banks, t--; cum 107K in 2.5 months; see below;
  • 35842, SI/A, Equinor, Stallion 33-28 4TFH, Ragged Butte, t--; cum 56K 4/20
  • 36134, SI/A, XTO, Arlys 34X-31H, Siverston, t--; cum 44K 3/20; a 41K month; see below;

Initial production.
  • 35915:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

From a Continental Resources exhibit. Sent in by a reader:

The Wahpeton wells are sited in section 16, and run north to south, ending in section 21.
  • 36134, 41K extrapolates to 46K in a 30-day month:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare

New Poll -- Corona Virus Vaccine -- June 3, 2020

Vote at the top of the sidebar at the right.


Poll posted on June 3, 2020.

June 13, 2020: that didn't take long. The Motley Fool suggests this merger is not going to happen. Apparently not a good fit and Gilead not interested.

June 8, 2020: AstraZeneca and Gilead in talks over mega-deal merger in light of corona virus vaccine.

June 4, 2020: AstraZeneca ready to deliver 2 billions before Thanksgiving --
  • 400 million doses to the US and the UK
  • one billion does for low- and middle-income countries

Serendipity -- Where Were You On 9/11? -- June 3, 2020

Talk about serendipity.

I remember exactly where I was at 0900 hrs on Tuesday, September 11, 2001: watching on television,  from an office in the Air Force's Intelligence Agency complex, in San Antonio, the events unfold.

Vern Whitten, of the eponymously-named photography studio was taking photographs.

Today, he sent me the third in his series of of photographs for his virtual coffee-table book, linked at the sidebar at the right.

He says that in the autumn of 2001 he was taking a photograph of a maple tree in a local park, taking a photo every day for about a month. One of the photos just happened to be taken on September 11, 2001.

See photo and his comments at the link. Pretty amazing.

Vern Whitten Photography
(701) 261-7658

Threat Update -- June 3, 2020

Rush Recommends

Turn off cable news for a week.

I quit watching cable news many months ago. It makes all the difference in the world.

I use google to look specifically for what I want to read about. Car radio is set on classical music station.

One exception: I continue to listen to Rush off and on. I never listen to "his" show when he has a guest speaker. I generally tune in to Rush for about twenty minutes. I'm driving with our oldest granddaughter every day from 11:45 to 2:00 -- she has her driver's permit -- and I would never subject her to Rush. She has a different myth of the world than I do. And it will be her world that she inherits, not mine.

One of the reasons we enjoyed our thirteen years overseas with the USAF (Germany, England, Turkey, Africa, Italy) is because we did not have television and we did not subscribe to the local newspapers. The only news we got on a regular basis was Air Force Times.

Ignorance is bliss.

At first I was concerned / upset about what going on in the big-city protests, but I was no longer concerned when the mayor of NYC said he was in control, and did not need any outside help. That tells me all I need to know. In the big scheme of things, it can't be that bad if the mayor of NYC is not all that concerned. I don't have a dog in that fight -- the nightly protests.

Rush Is Not Often Wrong, But In This Case ....

I sent this not-ready-for-prime-time note to a reader earlier today:
I see Rush Limbaugh continues to push the myth / meme that Sweden did the right thing by not locking down like its neighbors.

NY locked down but screwed up by:
a) the nursing home debacle; and,
b) the failure to "manage" the subways
So, in the big scheme of things, NYC never truly locked down.

Had the rest of the US not locked down (or instituted the same policies as NY) can you imagine the headlines with the number of cases / number of deaths across the US?

Even now, folks are worried about a second wave when, in fact, that was not the purpose of lock downs to begin with.
Now, I see this over at ZeroHedge:

Notes From All Over, The Mid-Morning Editioin -- June 3, 2020

The great flip:

The graphic of the day, link here:

The Literature Page

Troy. Yes, that Troy.

To visualize Troy, think of Vatican City.

Likely date of destruction based on a marble tablet (parium) from Paros: the seventh from the last day in the month of Thargelion during the 22nd year of the reign of King Menestheus. A recalculation: June 5, 1209 B.C. Other sources suggest that date is very, very plausible. From wiki:
Paros is a Greek island in the central Aegean Sea.
One of the Cyclades island group, it lies to the west of Naxos, from which it is separated by a channel about 5 miles wide.
It lies approximately 93 miles south-east of Piraeus, the port city of Athens.
The Municipality of Paros includes numerous uninhabited offshore islets totaling 75 sq mi of land. 
Historically, Paros was known for its fine white marble, which gave rise to the term "Parian" to describe marble or china of similar qualities.
Thargelion: in the spring, May/June time frame.

So, there you have it.

Celebrate with a Greek meal this Friday. And toast your favorite hero of the Trojan War. My favorite is Diomedes.

One of the fifteen is Hector, and Sophia and I read this bedtime nursery story several times a week, although she says she doesn't like it:

Zorba the Greek dance:

EIA Weekly Petroleum Report -- June 3, 2020


June 4, 2020: be sure to look at comments.

Original Post 

Link here. Pending, due out at 9:30 a.m. CT.

Meanwhile, while waiting: ADP data "massively" beats consensus. Okay, we'll go with that.

OPEC basket: quietly goes up to $34.95. Link here. WTI at $36.92.


The EIA weekly data:
  • US crude oil inventories declined by 2.1 million bbls from the previous week;
  • US crude oil inventories now stand at 532.3 million bbls, 12% above the already-fat-five-year average for this time of year;
  • refineries were operating at 71.8% capacity, pretty much unchanged;
  • US crude oil imports decreased by 1.0 million bbls/day -- an average of one VLCC every two or three day;
  • US crude oil imports are down about 18% on average from a year ago
  • jet fuel product supplied pretty much unchanged at 68.7% from last year
Week Ending
Million Bbls Storage
Week 0
November 21, 2018
Week 1
November 28, 2018
Week 2
December 6, 2018
Week 3
December 12, 2018
Week 4
December 19, 2018
Week 5
December 28, 2018
Week 71
April 8, 2020
Week 72
April 15, 2020
Week 72
April 22, 2020
Week 73
April 29, 2020
Week 74
May 6, 2020
Week 75
May 13, 2020
Week 76
May 20, 2020
Week 77
May 28, 2020
Week 78
June 3, 2020

US crude oil imports:
Crude Oil Imports

Week (week-over-week)
Week Ending
Raw Data, millions of bbls
Change (millions of bbls)
Four-week period comparison
Week 0
March 11, 2029

Week 1
March 18, 2020

Week 2
March 25, 2020

Week 3
April 1, 2020

Week 4
April 8, 2020

Week 5
April 15, 2020

Week 6
April 22, 2020

Week 7
April 29, 2020
Week 8
May 6, 2020

Week 9
May 13, 2020
Week 10
May 20, 2020

Week 11
May 28, 2020
Week 12
June 3, 2020

Jet fuel delivered:
Jet Fuel Delivered, Change, Four-Week/Four-Week

Week Ending
Week 0
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
Week 11
May 22, 2020
Week 12
June 3, 2020