Wednesday, November 18, 2020

The Enerplus Daffy Duck Pad

The wells:
  • 34440, 1,084, Enerplus, Mallard 148-93-20B-29H-TF, McGregory Buttes, t4/19; cum 415K 9/20;
  • 34439, 627, Enerplus, Daffy 148-93-20A-29H, McGregory Buttes, t4/19; cum 339K 9/20;
  • 34438, 619, Enerplus, Muscovy 148-93-20A-29H-TF, McGregory Buttes, t4/19; cum 390K 9/20;
  • 34437, 927, Enerplus, Canvasback 148-93-20B-29H, McGregory Buttes, t4/19; cum 204K 9/20; 
  • 34436, 156, Enerplus, Dewey 148-93-20B-29H-TF, McGregory Buttes, t4/19; cum 107K 9/20; 
  • 34435, 1,103, Enerplus, Scrooge 148-93-20B_29H-TF, McGregory Buttes, t4/19; cum 295K 9/20;;
  • 34434, loc, Pintail, middle Bakken,
  • 34433, loc, Scaup, Three Forks,
  • 34432, loc, Widgeon, middle Bakken;
  • 20883, 724, Enerplus, Hans 20-21H, McGregory Buttes, t4/12; cum 381K 9/20;

20883, jump in production:

BAKKEN11-20193036003608161718005181009
BAKKEN10-201930518752532170316926970
BAKKEN9-201929890088785348473634550
BAKKEN8-201930810780565644517950860
BAKKEN7-20196232223731360152315060
BAKKEN6-2019289456937732790586657800
BAKKEN5-2019281687446176136080
BAKKEN4-20190000500
BAKKEN3-20190000000
BAKKEN2-20190000000
BAKKEN1-20190000000
BAKKEN12-2018126394261208
BAKKEN11-201812128912734126452612
BAKKEN10-20183831721156416165244
BAKKEN9-201826216892523114305
BAKKEN8-20181129939711714910041
BAKKEN7-2018673561730736828375
BAKKEN6-2018207047293074564210
BAKKEN5-201831109610274257867310
BAKKEN4-201829916932734458251158

Initial production back in 2012:

BAKKEN9-201229731872361829273027300
BAKKEN8-201231830182682063376837680
BAKKEN7-20123110305103352965599759970
BAKKEN6-20122912524128864105658965890
BAKKEN5-20123120026196159838805480540
BAKKEN4-20126212517454233127501275

Infill Density -- Section Line Wells -- Leaving No Barrel Of Oil Behind -- November 18, 2020

I assume this is fairly common and I've simply missed other examples, but it's my experience that there is generally just one well along a section line but today I noted that Hess has permits for three wells along the same section line. When I get caught up I will take a closer look, but for now:

  • 37977, loc, Hess, EN-Joyce-LE-156-94-1721H-6, Manitou, from the permit, sections 16/17/20 & 21-156-94; 844 FSL 749 FWL;
  • 37978, loc, Hess, EN-Joyce-LE-156-94-1721H-5, Manitou, from the permit, sections 16/17/20 & 21-156-94; 844 FSL 782 FWL;
  • 37979, loc, Hess, EN-Joyce-LE-156-94-1721H-4, Manitou, from the permit, sections 16/17/20 & 21-156-94; 844 FSL 815 FWL

Graphic:

When the going gets tough, the tough get going. Hess, CLR, BR. 

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


*******************************
Monthly Haircut

CLR With Six New Permtis; Four DUCs Reported As Completed; Hess Has Another Nice Well -- November 18, 2020

Reaching herd immunity?
 

****************************
Back to Oil

Active rigs:

$41.58
11/18/202011/18/201911/18/201811/18/201711/18/2016
Active Rigs1555635638

Six new permits:

  • Operator: CLR
  • Fields: Westberg (McKenzie); Elidah (McKenzie)
  • Comments:
    • CLR has permits for a six-well Clear Creek pad in NWNW 26-152-97;
    • the wells will be between 220' FNL and 490' FNL and between 1018' FWL and one foot over, to 1019' FWL

Four producing wells completed:

  • 36952, drl/A, WPX, Spotted Wolf 7-6HD, Eagle Nest, no production data,
  • 28152, drl/A, Hess, BW-Spring Creek-149-99-1201H-5, Cherry Creek, t--; cum 34K in 30 days;
  • 32413, SI/A, CLR, Polk Federal 11-33H, Banks, no production data,
  • 32412, SI/A, CLR, Polk Federal 12-33H1, Banks, minimal production data,

Four permits canceled:

  • EOG (2): two Wayzetta permits in Mountrail County;
  • Slawson: one Goblin Federal well in Mountrail County
  • Enerplus: one Cesium permit in Dunn County

Breaking Up Is Hard To Do -- Just Ask Boris Johnson -- November 18, 2020

Breaking Up Is Hard To Do, Neil Sedaka

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


 

EIA's November "Dashboards" Posted -- November 18, 2020


EIA dashboards:

***************************
From Twitter Today

This tweet was quickly deleted from Twitter. Apparently, subtracting "8" from 21,500 is difficult. 

One Well Coming Off Confidential List Today -- November 18, 2020

Gasoline demand, link here:

Weekly EIA petroleum report, link here.

  • US crude oil in storage increased by 0.8 million bbls;
  • US crude oil in storage now stands at 489.5 million bbls, about 6% above the already-fat-five--year average;
  • refiners operating at 77.4% of their operable capacity;
  • distillate fuel inventories decreased by 5.2 million bls last week but are still 11% above an already-fat-five-year average;
  • US crude oil imports averaged 5.3 million bopd, down by 245,000 bopd from the previous week; the four-week average is about 13% less than same four-week period last year;
  • jet fuel supplied was down 39.8% compared with same four-week period last year

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

Active rigs:

$41.73
11/18/202011/18/201911/18/201811/18/201711/18/2016
Active Rigs1555635638

Slawson: well, this is interesting. Back to two active rigs. 

One coming off confidential list today  -- Wednesday, November 18, 2020: 23 for the month; 47 for the quarter, 712 for the year

  • 36462, drl/A, Hess, EN-Ruland-156-94-3328H-5, Manitou, t--; cum 65K 9/20;

RBN Energy: a tough year for crude oil slows pipeline development to a crawl

Bombarded by COVID-related demand destruction and weak — sometimes dismal — crude oil pricing, producers have been pulling in their horns this year, and midstream companies have been doing the same. A number of major pipeline projects have been delayed, scrapped, or simply removed from midstreamers’ slide-deck presentations, having failed to garner the long-term shipper commitments they needed to remain viable in this era of retrenchment and fingers-crossed-we-survive. Even with the 2020 pullback in pipeline development, at least a couple of major production areas — the Permian and the Bakken — may well end up with considerably more takeaway capacity than they will need for the foreseeable future. Today, we discuss the oil pipeline projects that have stalled or died this year, and the ones that have managed to move forward despite it all.

Fast And Furious -- Fifteen Minutes -- November 18, 2020

First things first: Duolingo valued at $2.4 billion; only 4% are paying customers; WSJ

Boeing: 737 Max to be recertified today?

Shale oil: top companies to watch. XOM, CVX, COP, EOG, Pioneer Natural Resources, OXY, CLR.

XOM: it's newest, deepest well in Guyana disappoints; not economical. Link here

New Mexico: trimming budget as oil downturn hits. Interesting what is not said. 

Equinor: to boost output from top North Sea oilfield (Sverdrup): capacity hits 500,000 bopd; link here.

China: oil binge to run on into 2021; refiners stocking up; link here.

Apple: M1 MacBook Air and MacBook Pro -- biggest leap in years -- WSJ; link here;

Apple: CarPlay update.

Apple: to drop App store fees from 30% to 15% for all developers making under $1 million. Link here.

Honda: looking to re-design its Honda Civic; appeal to younger buyers; keep price in $20,000 range;

Soybeans: new $12/bushel; US farmers doing very, very well. Link here.

Lumber: demand for new fences meets a nationwide lumber shortage -- WSJ; link here

Retail: Walmart adding "pop-up" centers for online holiday sales. WSJ; link here. Sounds good, but why wouldn't you just have Amazon deliver your purchase for free?

Denmark: folks don't like the idea of "forced vaccinations." Link here. They may not like it but it will happen. But it will be voluntary. LOL. 

Pfizer: now that the competition has a vaccine that is 95% effective, Pfizer announces it's own vaccine is also 95% effective. Exactly on the mark: 95%. Not 95.4% or 95.1% but exactly 95%. 

Stuck? Are we stuck in a new trading range? 29,500 - 30, 500? 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.