Monday, August 23, 2010

Investing in The Majors

For conservative investors interested in energy, this article will warm the cockles of your heart. I've accumulated shares in several of the majors over the years and have grown to appreciate their dividends more and more every day. That reminds me, what are money market accounts paying now?
Posted by at No comments:

Enercom Oil and Gas Conference Kicks Off Today

The 2010 Oil and Gas Conference kicks off today.

Here is the schedule, the presenters, the slides, the audio.

Several of my loyal readers have reminded me to post this.

The URL is: http://www.vcall.com/customevent/conferences/enercom/20100823/webcast.html
Posted by at No comments:

Results of Completed Wells From July 1, 2010 To December 31, 2010 -- North Dakota, USA

Results of Completed Wells July 1, 2010 - December 31, 2010
As of October 11, 2010, including additional permit information

Source: NDIC or Press Release (PR)

Data for 4Q13: 4Q13
Data for 3Q13: 3Q13
Data for 2Q13: 2Q13
Data for 1Q13: 1Q13
Data for 4Q12: 4Q12
Data for 3Q12: 3Q12
Data for 2Q12: 2Q12
  Data for 1Q12: 1Q12   
Data for 4Q11: 4Q11 
Data for 3Q11: 3Q11 
Data for 2Q11: 2Q11 
 Data for 1Q11: 1Q11  
 Data for 2H10: 2H10  
Through 1H10: 1H10
For reports prior to July 1, 2010:  visit this link. 

NOTE: when a well is listed as a "Bakken" well, that is the Bakken Pool as defined by the NDIC; some of the recent wells listed as "Bakken" are producing from the Three Forks Sanish formation.  Occasionally it is possible to determine if a well is a Bakken formation well or a TFS well, but it is not easy in most cases. The USGS 2008 survey was based on Bakken formation information only, to the best of my knowledge, and probably underestimated the size of the pool by half had the TFS also been included. That explains why USGS estimates 3 billion barrels recoverable oil; NDIC director estimates 11 billion barrels recoverable oil; and, Harold Hamm estimates 14 billion barrels of recoverable "Bakken" oil.

December 28, 2010
  • 19010, 847, Slawson, Armada Federal 1-14-13H, Van Hook, Bakken, t10/10; cum 364K 1/19;
  • 18997, TA/30, Boundary 4-27H, EOG, Boundary Creek/Wildcat, Spearfish (not a Bakken); t8/10; cum --
December 27, 2010
December 21, 2010
  • 18804, 1,561, WLL, TTT Ranch 4-6TFH, Sanish, Bakken, previously reported, August 22, 2010, below; this is a record TFH IP; t8/10; cum 295K 3/18;
  • 18711, 4,126, WLL, Fladeland 12-10H, Sanish, Bakken, t7/10; cum 502K 1/19;
  • 18549, 1,114, WLL, Littlefield 21-7H, Parshall, Bakken; some confusion -- WLL press release said the Sanish oil field; the NDIC report said the Parshall oil field; t7/10; cum 604K 1/19;
  • 19099, PA/31, EOG, Boundary 11-20H, Roth, Spearfish/Madison, NOT a Bakken, t8/10; cum 4K 6/12;
  • 18800, 1,117, EOG, Fertile 38-20H, Parshall, Bakken, t7/10; cum 208K 3/18;
  • 18763, 853, EOG, Ross 15-28H, Alger, Bakken, t6/10; cum 210K 3/18;
  • 18609, 379, EOG,  Palermo 2-18H, Ross, t7/10; cum415K 3/18;
  • 18147, 952, EOG, Fertile 16-20H, Parshall, t7/10; cum 195K 3/18;
  • 17786, 754, EOG, Clearwater 10-03H, Clear Water, t7/10; cum 157K 3/18;
  • 18960, 883, CLR, McGregor 2-15H, Lindahl, t12/10; cum 288K 3/18;
  • 19034, 2,000, Statoil/BEXP, Lippert 1-12 1-H, Rosebud, t11/10; cum 249K 3/18;
  • 19002, 1,721, Satoil/BEXP, Smith Farm 23-14 1-H,  Cow Creek, t10/10; cum 322K 3/18;
  • 19032, 604, Zavnna, Hanson 28-33 1H, Stockyard Creek, t11/10; cum 146K 3/18;
  • 19038, 440, Petro-Hunt, Forseth 157-100-25B-36-1H, Marmon/Wildcat, t9/10; cum 201K 3/18;
  • 18736, 626, MRO, Rosemary Eckelberg 21-26H, Bailey, t9/10; cum 229K 3/18;
  • 18890, 721, Whiting/KOG/BTA, 20711 Springbrook 58 1-H, Stockyard Creek, t8/11; cum 365K 3/18;
  • 19072, 152, XTO, Big Gulch Federal 41X-16, Haystack Butte, t11/10; cum 195K 3/18;
  • 19014, 717, XTO, Klepp 21X-1, West Capa, t8/10; cum 164K 3/18;
  • 18815, 853, Oasis/SM, Norby 9-20H, Charlson, t10/10; cum 312K 3/18;
  • 18575, 1,007, Slawson, Hunter 1-8-17H, Big Bend, t6/11; cum 564K 1/19; had big jump in production 9/14;
  • 19066, 1,779, Hess/AEZ, Hickel 15-35H, Ray, Hess now owns AEZ, t1/11; cum 168K 3/18; 
December 17, 2010
  • 19045, 53, CLR, Goodman 1-36H, Squires, t10/10; cum 168K 3/18;
  • 19011, 725, CLR, Bridger 3-13H, Rattlesnake Point, 4 sections, t12/10; cum 302K 3/18;
  • 19009, 651, CLR, Bonneville 3-23H, Rattlesnake Point, 4 sections, t12/10; cum 330K 3/18;
December 16, 2010
December 15, 2010
  • 18723, 608, Murex, Lisa Diane 15-22H, Beaver Lodge, t6/10; cum 149K 1/21;
  • 19053, 89, CLR, Monte 12-19SH, Medicine Pole Hills, West Red River (not a Bakken), t8/10; cum 147K 1/21;
  • 19012, 365, CLR, Bonneville 2-23H, Rattlesnake Point, Rattlesnake Point, t12/10; cum 223K 1/21;
  • 18943, 2,169, WLL, Locken 14-9XH, Sanish, t11/10; cum 587K 1/21;
  • 18566, 1,204, WLL, Cvancara 11-14H (see also several other Cvancara wells), Alger, t11/10; cum 254K 1/21;
  • 19025, 1,361, WLL, Moore 11-7H (see other Moore wells), Sanish, t11/10; cum 271K 1/21;
  • 19250, 2,686, WLL, Ness 43-21H (see other Ness wells), Sanish, t10/10; cum 495K 1/21;
  • 19259, 2,746, WLL, Jones 12-8H, Sanish, t10/10; cum 519K 1/21; off-line 3/18; back on line;
  • 19174, AB/2,299, WLL, Kannianen 43-33H (see many other Kannianen wells); t10/10; cum 391K 4/19; remains off line 1/21;
  • 19029, 2,625, WLL, Heiple 11-3H, t10/10; cum 3405K 1/21; intermittent; long periods with no producton;
  • 19242, 1,914, WLL, Bartleson 12-18H, t10/10; cum 278K 1/21; needs to be re-fracked
  • 19044, 2,110, WLL, Anderson 21-7H, t10/10; cum 317K 1/21; needs to be re-fracked
  • 18387, 736, Petro-Hunt, USA 10B-2-4H, Charlson, t7/10; cum 409K 11/20; recently off-line; now back on line; small jump in production; off line 12/20;
  • 18541, 161, CLR, Miles 1-6H, Dimmick, t11/10; cum 188K 1/21; off-line as of 1/18; back on line, then offline 12/20;
  • 18728, 32, SM Energy/Baytex, Hansen 13-162-99H, Ambrose, t6/10; cum 103K 1/21;
  • 18925, 1,521, Slawson, Phoenix 1-18H, Van Hook, t12/10; cum 429K 1/21; still great production as of 3/18;
  • 18984, 1,219, CLR, Olson 2-8H, Edge, t11/10; cum 456K 1/21; see update here;
December 14, 2010
    • 17701, 63, Prima Exploration, Wildhorse 11-24H, Lakeside, Midale/Nesson pool, t10/10; cum 24K 3/18;
    December 13, 2010
    • None
    December 10, 2010
    • 18203, IA/1,154, EOG, Fertile 34-31H, Parshall, t6/10; cum 232K 1/21; off line, 2/20; remains off line 3/21;
    • 18641, AB/1,856, Newfield, Megamouth 1-8H, Siverston, t8/10; cum 145K 4/17;
    • 18909, 674, CLR, Rollefstad 2-3H, Antelope, t8/10; cum 330K 1/21;
    • 19028, 98, 31 Operating, LLC/Petro Harvester/Sagebrush, Erickson Et Al 3B, Renville, a Madison well, t8/10; cum 36K 3/18; inactive as of 8/15; back online 1/17; intermittent since then;
    • 19047, 1,770, Slawson, Revolver 1-35H, Van Hook, t11/10; cum 377K 1/21;
    December 9, 2010
    • None
    December 8, 2010
    • 18693, 560, MRO, Betty Shobe USA 41-8H, Reunion Bay, t9/10; cum 346K 1/21;
    • 19037, 811, Oasis, Banks 5892 44-34H, t10/10, cum 148K 1/21; intermittent production;
    • 19051, PA, EOG, Eidsvold 1-10H, a Spearfish well, wildcat
    December 7, 2010
    • 17462, IA/149, CLR, MPHU 24-19H, a Red River well, t8/10; cum 55K 11/20; off line 12/20; remains off line 1/21;
    • 18790, 1,773, ERF, Henry Bad Gun 16B-21-1H, Moccasin Creek, t10/10; cum 491K 1/21;
    • 18970, IA/1,106, Slawson, Pike Federal 1-3-2H, Van Hook, t9/10; cum 544K 9/20; off line 10/20; remains off line 1/21; jump in production;
    December 6, 2010
    • 18599, 1,003, Lime Rock Resources/OXY USA/Anschutz, Andrew Schmidt 1-3-10H-143-97, Crook Creek, t1/11; cum 160K 1/21;
    • 18770, 819, Whiting/North Plains, Scanlan 3-5H, Truax, t9/10; cum 384K 1/21; jump in production;
    • 18801, 1,481, Oasis, Contreras 5502 42-7H, Squires, t8/10; cum 384K 1/21; remains off line 1/21;
    • 18835, 503, CLR, Long 2-5H, Stoneview, t9/10; cum 131K 1/21;
    • 18896, 4,438, Statoil/BEXP, Clifford Bakke 26-35 1H, Alger, t10/10; cum 611K 1/21;
    • 18897, 584, CLR, Panasuk 1-23H, Hebron, t9/10; cum 151K 1/21;
    • 18907, 262, CLR, Lance 1-36H, Upland, t9/10; cum 99K 1/21;
    • 18916, 1,999, Oasis, Missouri 5302 44-35H, Indian Hill, t8/10; cum 315K 1/21;
    • 18918, 93, Encore, Jorgenson 34-9SWH, Lost Bridge, t9/10; cum 289K 1/21;
    • 19042, 280, Cornerstone Natural, Schwartz 4-11H, Customs, Midale/Nesson pool, t8/10; cum 75K 1/21; intermittent since 6/17;
    • 19735, PNC, Hunt Oil, Halliday 1-19-18H 1,

    TO BE COMPLETED AT A LATER DATE (I never did complete this)

    December 3, 2010

    Posted by at 3 comments:

    Enquiring Minds Want to Know: Why the Drop in the Number of Active Rigs?

    The high of 143 active rigs was set some weeks ago but has since slowly declined to 134 today. It's great weather, road restrictions have been lifted, and new companies keep moving in. I assume that some of these rigs are moving across the border to Montana. While touring the Bakken last week someone noted that there were seven rigs just across the state line. That would account for much of the delta between 143 and 134. After a couple years of little activity in eastern Montana Bakken, the drillers are going back in. They are going back to where they were a few years ago, plus they are exploring new areas just west of Williston.

    But I wonder if there might be something else going on to account for the drop in active rigs. It seems a bit more than I would have expected.

    I'm not the only one wondering?

    ***********

    Update, August 27, 2010: never mind. We're back up to 140 today.
    Posted by at No comments:

    Whiting Announces Four New Wells

    There is an incredible amount of information that is not included in a press release announcing results of newly completed wells. There just isn't enough space and it might overwhelm the casual reader. However, the big piece of news not mentioned in the press release discussed below is the fact that one of the wells is the fourth well in that one section. More on that later.

    Whiting announces four new wells.

    My comments and observations are limited due to the fact I'm still traveling, but I think these new wells are starting to show the potential of new wells drilling in a very established area.

    For example, the newly reported Carkuff 12-24H, with a reported IP of 3,475 bopd, is the second of two wells in a 1,280-acre unit. The first well in that spacing unit was the Arndt 11-24H with an IP of 1,429. The Arndt was frakked with 10 stages; the Carkuff with 30.

    The Carkuff, Fladeland 43-9H (3,027; 22 stages); and Littlefield 21-12H (2,591; 19 stages) are all middle Bakken wells.

    The fourth well, the TTT Ranch 4-6TFH set an IP record for a Three Forks Sanish well in the Sanish field with an IP of 1,768 boepd. The previous record was the Whiting-operated Olson 11-14TFH with 1,640 boepd.

    For future reference, the file numbers for these wells:
    Carkuff - 18570
    Fladeland - 18761
    Littlefield - 18635
    TTT Ranch - 18804
    Arndt - 18055


    Now,back to that fourth well in one section. The TTT Ranch 4-6TFH is the fourth well in section 6-153-91. The other three are file numbers 17603, 18804, 18297, and 18876. Although two of these are still on the confidential list, it appears that all four wells will be long laterals running from northwest to southeast.

    The following is idle chatter but represents a disconnect that I've discussed before. The NDGS estimates the EUR for an individual section in the Bakken be in the range of 400,000 barrels (give or take a 100,000 barrels based on location). Meanwhile, the drillers "advertise" a EUR of 700,000 barrels per well (give or take a couple hundred thousand barrels based on location). So, here we have, so far, four wells in a 1,280-acre spacing unit and I doubt they will be the last.
    Posted by at No comments:

    The Spearfish: Beating a Dead Horse?

    I don't want to beat a dead horse but folks continue to ask about the Spearfish formation. I tried to answer questions in the "comments" section but couldn't get the URL's to paste, so I am providing this note as a stand-alone posting.

    See the comments at this link.

    This site linked the same story I linked earlier, about the potential number of wells in Bottineau County.

    These stories suggested that there could be as many as 30 wells in each section, or 30 wells in each square mile. This site shows what that looks like in Manitoba (Canada/Williston Basin), a graphic I had not seen previously.

    Take it for what it's worth. I have no dog in this fight. It will simply be interesting to follow.

    For more on the Spearfish, click here (or click on "The Spearfish" at the sidebar on the right).
    Posted by at No comments:
    Subscribe to: Posts (Atom)