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Thursday, December 2, 2010

Eleven (11) New Permits -- North Dakota, USA

Producers: EOG (5), CLR (2), Tracker, XTO, Legacy, and Whiting.

Fields: Clear Water, Hamlet, North Fork, Glass Bluff, Kittleson Slough and five (5) wildcats.

The Whiting permit is in Billings County, a wildcat.

Continental Resources  had a nice well in the North Red River "B" with an IP of 253, the Duaine 31-4NH, file number 18393.

On track for 1,706 permits for calendar year 2010 in North Dakota. Most of them for the Bakken.

One "daily activity report" does not a trend make, but five (5) wildcats suggests that we may be getting to the point where some of the bigger players have their early leases held by production and now have the opportunity to start focusing on the "E" in "E&P." 

Brent Oil Breaks $90 For First Time This Year -- West Texas Intermediate At 2-Year High

Dynamic link - will change. Announced on CNBC about 1:30 p.m. EST, December 2, 2010.

The Avengers: the price action of oil today had absolutely nothing to do with the fact that the Obama administration continues to destroy the domestic oil industry (lease issue on federal land in the west, extended the ban for off-shore drilling along the eastern seaboard and Alaska for another seven [yes, seven] years, the ill-advised moratorium on deep sea drilling in the Gulf of Mexico, and now the new regulations on deep sea drilling in the gulf) but somehow it brings The Avengers to mind. Yes, I know it's a stretch.

But, think about it. The world runs on oil. The US has some of the largest oil reserves in the world. The Chinese economy grew even more than expected. And the Obama administration takes a significant amount of oil reserves out of world play. Just saying. (Yes, I am fully aware that current supply exceeds demand. And, yes, I am fully aware that even if these areas were opened up, it would take years for them to be productive.)


You Really Got Me Going, The Avengers and the Kinks

On another note, natural gas continues to creep up. Natural gas was up 6 cents today, and closed at $4.33.

North Dakota's "Clarence Iverson" Oilman Dies -- Described as Legendary -- North Dakota, USA

Leon "Tude" Gordon, 95, died Tuesday in a Williston hospital. Incredible story.

Gordon was one of the roughnecks working the Clarence Iverson well in 1951. That was 59 years ago, or thereabouts. He would have been 36 years old when he was drilling that well. Hmmm.

BR Reports a Nice Well in Blue Buttes -- Bakken, North Dakota, USA

18942, 2,291, BR, Harley 31-2H, Blue Buttes, Bakken.


This is in the Blue Buttes oil field. XTO recently reported a nice well there also:
  • 18726, 2,573, XTO, Marlene 42X-20, Blue Buttes, Bakken, 75K in first three months.
The Blue Buttes oil field is just west of the Fort Berthold Indian Reservation. It has dozens of wells in a very small area, but they are all vertical and were drilled well before this current boom. However, like many other fields, this field is now getting attention due to the Bakken.