Friday, August 28, 2020

152-94-35, Antelope, Several MRO Pads In the Area

The graphic:

The wells:

  • 37089, drl/NC, MRO, Jonah USA 11-2H, Antelope-Sanish, 
  • 36221, drl/NC, MRO, 
  • 36222, drl/NC, MRO, 
  • 36223, drl/NC, MRO, 
  • 36224, drl/NC, MRO, 
  • 33412, 6,509, MRO, Winona USA 21-2TFH-2B, Antelope-Sanish, t4/18; cum 544K 2/20; off line 3/20; remains off line 6/20;
  • 33413, 8,475, MRO, Chauncey USA 31-2H, Antelope-Sanish, t3/18; cum 466K 3/20; off line 4/20; remains off line 6/20;
  • 33414, 5,524, MRO, Wilbur USA 31-2TFH, Antelope-Sanish, t4/18; cum 407K 6/20; 
  • 33415, 7,572, MRO, June USA 31-2H, Antelope-Sanish, t3/18; cum 531K 6/20; 
  • 33416, 4,892, MRO, Miles USA 41-2TFH-2B, Antelope-Sanish, t4/18; cum 349K 6/20;
  • 31060, 3,473, MRO, Heather USA 13-35TFH, Antelope-Sanish, t5/16; cum 390K 6/20;
  • 31061, 2,942, MRO, Juanita USA 13-35H, Antelope-Sanish, t7/16; cum 463K 5/20; off line 6/20;
  • 31058, 3,661, MRO, Clarks Creek USA 14-35H, Antelope-Sanish, t5/16; cum 411K 6/20;
  • 31057, 3,490, MRO, Charmaine SUA 14-35TFH, Antelope-Sanish, t6/16; cum 494K 6/20;


  • 37612, loc, MRO, Cavanaugh USA 11-35H, Antelope-Sanish,
  • 37611, loc, MRO,
  • 37776, loc, MRO,
  • 37610, loc, MRO,
  • 37609, loc, MRO,
  • 37608, loc, MRO,
  • 37607, loc, MRO,
  • 33491, 4,125, MRO, Shoots USA 41-2H, Antelope-Sanish, t4/18; cum 388K 6/20; 
  • 33492, 6,637, MRO, Mamie USA 21-1TFH, Antelope-Sanish, t4/18; cum 567K 6/20; 
  • 18471, 380, MRO, Hunts Along USA 12-1H, Antelope-Sanish, t1/11; cum 246K 6/20; huge jump in production, 4/18; 
  • 32865, 3,634, MRO, Demaray USA 41-2TFH, Antelope-Sanish, t4/18; cum 345K 6/20; 
  • 33493, 8,160, MRO, Mark USA 11-1H, Antelope-Sanish, t4/18; cum 441K 6/20; 
  • 33494, 3,826, MRO, Timothy USA 11-1TFH-2B, Antelope-Sanish, t4/18; cum 420K 6/20;

Week 35: August 23, 2020 -- August 29, 2020

Top stories of the week:

The other top story of the week:

Economic story of the week:

Most surprising graphic of the week:

Top international non-energy story:

Top international energy story:

Top national non-energy story:

Top national energy story:

Geoff Simon's top North Dakota energy stories:

  • Hwy 83 northwest bypass work to begin in Minot;
  • ND is receiving $34.4 million of additional federal funding for transportation projects; this is the largest amount ND has ever received in additional funding from the government's annual redistribution process; sort of like Christmas in July;
  • Public hearing proposed Williston NE Truck Reliever Route scheduled; route from Highway 1804 east of Williston to the intersection of "2 & 85" north of Williston;

Top North Dakota non-energy story:

Top North Dakota energy story:

Operators:

Operations:

Advantaged oil:

Natural gas:

Pipelines:

Bakken 101:

Bakken economy:

EVs:

Commentary:

ND Oil Production Slowly Coming Back -- Lynn Helms -- August 28, 2020

 From Geoff Simon's top ND energy stories:

Oil Production Slowing Coming Back
Helms: Major Improvement Two Years Out

Frac crews are beginning to return to North Dakota, and well completion numbers are climbing, but the state's top oil industry regulator says it will likely be a couple years before the state can expect any return to production growth mode.

Lynn Helms, director of the Department of Mineral Resources, said oil prices will have to climb to $55-60 per barrel before the state will see a return to normal drilling activity with about 55 rigs in operation. Helms said the state currently has just 11 active rigs, and they are all drilling on federal leases because of concern that a potential Joe Biden administration would halt oil and gas drilling on federal land.

Click here to listen to Helms' comments.

Helms, who spoke to a group of business leaders this week during a "Return to the West" session organized by the Grand Forks Chamber of Commerce, said 11 rigs can drill 20-to-25 wells per month. But he said that is far short of the 70-to-80 new wells needed to sustain production at 1.2 million barrels/day, which is about where it's believed to be today. Helms said that means the state will have to work through its inventory of more than 900 DUCs - drilled but uncompleted wells - to keep production from declining. Helms said more completions are occurring with oil prices holding steady around $40/bbl.

Click here to listen to Helms' comments.

Helms said the Energy Information Administration doesn't expect global oil demand to return to previous levels until sometime in 2022, which would generate an increase in oil drilling activity.

Click here to see the East Revisits West session on the Grand Forks Chamber Facebook page. Helms' presentation begins at the 27:30 mark.

Mineral Ownership Case Resolved: ND Supreme Court Rules In Favor Of Family -- August 28, 2020

Note: earlier in the Bakken, this was a big court case -- "high water mark" vs "low water mark." I never knew the story would get that big, and unfortunately I did not have a good tag for this issue. The closest I have is the "riparian" tag.  One can also search "egregious" on the blog, and also "land grab."

This was a top story of 2019:

The most egregious story to come out of the Bakken:

From top stories, week 23, 2020:

Top North Dakota energy story:

From top stories, week 39, 2018:

Land grab:
NDIC accepts "ordinary high water mark study" results: the state owns 9,500 more acres than originally shown by the US Army Corps of Engineers; mineral owners along the river between New and Williston may find they don't have as many acres as they once thought they did

Others:

"Land grab" revisited.

 Original Post

 From Geoff Simon's top ND energy stories:

Wilkinson Mineral Ownership Case Resolved
ND Supreme Court Says Family Owns the Rights
Other Lakebed Mineral Claims Expected to be Filed
A long-standing case regarding ownership of minerals inundated by Lake Sakakawea has been resolved by the North Dakota Supreme Court in favor of the families that filed the claim.

The lawsuit dates back to 2012 when William Wilkinson and other plaintiffs sued the Land Board to determine ownership of the minerals under land they conveyed to the Corps of Engineers for construction and operation of the Garrison Dam, but reserved the minerals rights under the property. The state resisted the claim, arguing that the water that inundates the Wilkinson property is caused by the meandering Missouri River and not Lake Sakakawea.

The court determined that subsequent legislation passed by the 2017 Legislature (SB 2134) to define the ordinary high water mark of the Missouri River before the dam was built validated the Wilkinson claim. State law distinguishes land below the high water mark as that which "the high and continuous presence of water has destroyed its value for agricultural purposes, including hay land."

A lawyer representing the Wilkinsons was quoted by the Bismarck Tribune this week saying that the family is owed more than $1 million in oil and gas royalties now held in an escrow-type count, and that the case would likely result in hundreds of additional claims for millions of dollars.
Click here to read the Supreme Court decision.

The Last 2 Percent Is Always The Toughest -- August 28, 2020

Be sure to read the comments at this social media site.

This is what they are all talking about:

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The Art Page

In the style of Claude Monet. This was how Monet's "Water Lilies" series began.


State-Owned Minerals Valued At $1.45 Billion; Will Not Be Fully Developed Until 2043 -- Study -- August 28, 2020

Link here.

A new appraisal of North Dakota’s state-owned minerals puts their value at $1.45 billion.

The figure stems from a model for all 2.6 million acres of state minerals based on a number of factors related to oil and gas development, such as crude prices, projected future drilling and the decline in a well’s production over time. The North Dakota Department of Trust Lands earlier this year contracted with Watford City-based MineralTracker to complete the valuation, which was presented at Thursday’s meeting of the Board of University and School Lands.

The state holds an interest in 8,110 oil wells, which account for 65% of the existing wells in North Dakota, said Joel Brown, mineral services manager with MineralTracker, which was recently purchased by First International Bank & Trust. The model anticipates that the state’s minerals will be fully developed by 2043, at which point 17,000 oil wells are projected to involve state minerals.

The state’s four biggest oil-producing counties account for the highest portion of the valuation. State minerals in McKenzie County have the highest appraised value at $608 million, followed by Mountrail, Williams and Dunn counties.

Brown said the mineral valuation changes significantly in scenarios with different oil prices. For every additional $10 per barrel, the state could anticipate about $500 million more in the value of its minerals, he said.

The Legacy Fund is tracked here.  


North Dakota Legacy Fund is tracked here
. To date, almost $6 billion has been deposited into the Legacy Fund. That puts the current study in perspective. 

Archived.

The Sports Page -- August 28, 2020

Updates

August 29, 2020: Tiger's third round -- a disaster. Bogie on #10 and double bogey on #17. He started off strong with two early birdies, suggesting mental game was working. If so, it was his stamina that did not hold up. By hole #17, it may have been both mental and stamina working against him.

Original Post

Tiger watch: wow, what an opportunity. Second round of the "most" important tournament to date. I posted my thoughts about Woods not too many weeks ago. There are two aspects of his game:

  • mental
  • physical

Tiger will have no trouble staying mentally focused through the second round. The question is whether he has the stamina.

He started off in great shape when the second round started today. I turned off the television after his second hole and moved on to something else. It's now 5:23 p.m. CDT and I just checked in. I didn't catch what hole he is on, but he is +7. Wow, clearly he did not have the stamina. The question is whether he will lose his mental focus. 

Later: okay, it was the fourteenth hole. He's now on the 15th hole. He is tied for 50th or thereabouts; he needs to improve his score by about seven strokes if he hopes to move on. Since starting the day he has dropped back fifteen position, now tied for 50th, as noted. How did this happen? What did I miss? Even through first four holes, then a bogey on #5 and a double bogey on #7. A birdie on #4, but then two more bogies, on #12 and #14. 

If he does not drastically improve his score by the end of this round -- four more holes, it will be interesting to see if he begins his third round mentally focused. We should know through the fifth hole, by which time stamina will start to become an issue. 

So, now while waiting for Sophia to come home, will watch Tiger as long as I can. 

#15: another bogey. Tied for 56th; down 21 positions for the day; +8 for the round.

#16: a relatively easy 3-par. On the fringe from the tee. Second shot well off the mark. Maybe ten feet from the hole for a par. He really, really needs to make this one. Otherwise it starts getting embarrassing. Missed. Wow. Another bogey. 

#17: birdie.

#18: already announcers suggesting Woods may not par this hole. Third shot coming up. Par. Good for him.


*********************************
BLM

The roundball tournament, I guess, will get underway again tomorrow. We'll see.

I wonder what Jerry Jones would do if his Cowboys told him ten minutes before game time they decided not to play because of some perceived injustice?

********************************
NASCAR Saturday

Coke Zero Sugar 400, Cup Series, 6:30 p.m., Daytona International Speedway.

Notes From All Over -- Late Afternoon Edition -- August 28, 2020

Federal Reserve Bank of St Louis, James B. Bullard on CNBC, agrees with those who say:

  • growth of 20%, maybe 25% in third quarter;
  • continued growth in fourth quarter and 1Q21;
  • lower rates for longer;

Market: gaming stocks, about the only losers

  • comment from talking head: they never imagined major sports seasons coming to an end due to social issues, not the pandemic
  • just as folks were getting used to dealing with the pandemic, now there is more talk that seasons for many sports coming to an early end (or never even starting, think NFL) due to social issues

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

Active rigs:
$42.97
8/28/202008/28/201908/28/201808/28/201708/28/2016
Active Rigs1062615530

Operators:

  • WPX (2)
  • BR (2)
  • CLR (2)
  • Hess
  • MRO
  • Slawson
  • Petro-Hunt

One new permit, #37814 --

  • Operator: BR
  • Field: North Fork (McKenzie)
  • Comments:
    • BR has a permit for a Saddle Jerome well in section 9-149-96; 230' FSL and 922' FEL, in North Fork oil field

Status Of Equinor Permits Awarded In 2019 And 2020

Equinor: to stop drilling in the Bakken.  Equinor, as a Bakken operator, is tracked here

Equinor's 2020 permits:

June 9, 2020

37626

Status

Equinor

State 36-1-5H

WMS

Stony Creek

June 9, 2020

37627

L

Equinor

State 36-1 6TFH

WMS

Stony Creek

June 9, 2020

37628

L

Equinor

State 36-1 7TFH

WMS

Stony Creek

June 9, 2020

37629

L

Equinor

State 36-1 8H

WMS

Stony Creek

June 9, 2020

37630

L

Equinor

State 36-1 XW 1TFH

WMS

Stony Creek

Equinor's 2019 permits:

July 3, 2019

36673

Status

Equinor

Larsen 3-10 6TFH

WMS

Williston

January 23, 2019

35989

SI/A

Equinor

Sam 30-31 6TFH

WMS

Bull Butte

January 23, 2019

35990

SI/A

Equinor

Sam 30-31 3H

WMS

Bull Butte

January 23, 2019

35991

DRL/A

Equinor

Sam 30-31 7TFH

WMS

Bull Butte

January 23, 2019

35992

DRL/A

Equinor

Sam 30-31 XE 1H

WMS

Bull Butte

February 4, 2019

36036

DRL/NC

Equinor

Marcia 3-10 6TFH

WMS

Last Chance

February 4, 2019

36037

DRL/NC

Equinor

Marcia 3-10-5H

WMS

Last Chance

February 4, 2019

36038

DRL/NC

Equinor

Marcia 3-10F-XW 1TFH

WMS

Last Chance

February 14, 2019

36087

PNC

Equinor

Marcia 3-10 7H

WMS

Last Chance

February 14, 2019

36088

PNC

Equinor

Marcia 3-10 8TFH

WMS

Last Chance

March 20, 2019

36218

DRL/NC

Equinor

Jake 2-11F XW 1H

WMS

Last Chance

March 20, 2019

36219

DRL/NC

Equinor

Jake 2-11F 8H

WMS

Last Chance

July 3, 2019

36672

PNC

Equinor

Lucy Hanson 15-22 2TFH

WMS

Catwalk

July 3, 2019

36674

PNC

Equinor

Larsen 3-10 7H

WMS

Williston

July 3, 2019

36675

PNC

Equinor

Larsen 3-10 8TFH

WMS

Williston

July 3, 2019

36676

PNC

Equinor

Lucy Hanson 15-22 8TFH

WMS

Catwalk

July 3, 2019

36677

PNC

Equinor

Lucy Hanson 15-22 XE 1H

WMS

Avoca

July 5, 2019

36692

DRL/NC

Equinor

Jake 2-11F 7H

WMS

Last Chance

July 24, 2019

36783

DRL/NC

Equinor

Marcia 3-10 7H

WMS

Last Chance

August 20, 2019

36873

DRL/TASC

Equinor

Jack Cvancara 19-18 XW 1H

MNT

Alger

August 20, 2019

36874

DRL/TASC

Equinor

Domaskin 30-31 XW 1H

MNT

Alger

August 20, 2019

36875

DRL/TASC

Equinor

Jack Cvancara 19-18 4H

MNT

Alger

August 20, 2019

36876

DRL/TASC

Equinor

Domaskin 30-31-9N

MNT

Alger

August 20, 2019

36877

DRL/TASC

Equinor

Jack Cvancara 19-18 8TFH

MNT

Alger

August 20, 2019

36878

DRL/A

Equinor

Domaskin 30-31 4TFH

MNT

Alger

August 20, 2019

36879

DRL/TASC

Equinor

Jack Cvancara 19-18 XE 1TFH

MNT

Alger

August 20, 2019

36880

CONF

Equinor

Domaskin 30-31 XE 1TFH

MNT

Alger

October 4, 2019

37037

CONF

Equinor

Tufto 7-6 7H

WMS

Cow Creek

October 4, 2019

37038

CONF

Equinor

Tufto 7-6 8THF

WMS

Cow Creek

October 4, 2019

37039

CONF

Equinor

Tufto 7-6 5H

WMS

Cow Creek

October 4, 2019

37040

CONF

Equinor

Tufto 7-6 6TFH

WMS

Cow Creek

October 4, 2019

37041

CONF

Equinor

Tufto 7-6 3H

WMS

Cow Creek

November 21, 2019

37205

CONF

Equinor

Larsen 3-10 XE1 1TFH

WMS

Avoca

November 21, 2019

37206

CONF

Equinor

Larsen 3-10 XE2 1H

WMS

Avoca

November 21, 2019

37207

CONF

Equinor

A Tufto 18 19F XW 1H

WMS

Cow Creek

November 21, 2019

37208

CONF

Equinor

L. Tufto 7-6 XW 1H

WMS

Cow Creek

November 21, 2019

37209

CONF

Equinor

L. Tufto 7-6 2TFH

WMS

Cow Creek