Sunday, February 23, 2014

CBR, WSJ, Must-Read Article

Don sent me this link. I assume it will be in the Monday edition of the WSJ. Because I am traveling I won't comment, but if you know me, I have lots of comments. It will be interesting to watch this play out.

This is the headline: Bakken oil carries high combustion risk. It begins:
Crude oil from North Dakota's Bakken Shale formation contains several times the combustible gases as oil from elsewhere, a Wall Street Journal analysis found, raising new questions about the safety of shipping such crude by rail across the U.S. Federal investigators are trying to determine whether such vapors are responsible for recent extraordinary explosions of oil-filled railcars, including one that killed several dozen people in Canada last summer.
The rapid growth of North Dakota crude-oil production—most of it carried by rail—has been at the heart of the U.S. energy boom. The volatility of the crude, however, raises concerns that more dangerous cargo is moving through the U.S. than previously believed.
One might want to check out the volatility of propane (about the same as Bakken crude oil). 

It is my understanding that almost all imported propane is moved by rail. I don't know how much propane is moved by rail these days. I also don't now how much propane is imported these days. I will use my traveling as an excuse not to go any farther into this discussion. I assume there are more hazardous chemicals shipped by rail with a higher volatility than Bakken crude oil. Fortunately the government is on top of this.

Disclaimer: this is all beyond my comfort level; I know nothing about the Reid Vapor Pressure index, so perhaps I will just leave it here and readers can do their own research. Meanwhile, back to the highway.


CLR has posted the IPs of two of the fourteen wells on the Atlanta pad southwest of Williston. The other twelve are supposedly completed; they should be reporting soon. How do you think CLR will report the remaining 12 wells on this 14-well pad?
  • one at a time, with no special press release
  • small groups at a time, with no special press release
  • small groups at a time, with a press release
  • all at once, with a press release
Obviously there is a fifth choice, but I will consider "all at once, with no press release" the same as the fourth choice ("all at once").

Wells Coming Off The Confidential List Monday: EOG With One Well With 215,000 Bbls In Less Than Five Full Months -- That's What We're Talkin' About

Monday, February 24, 2014
  • 25595, drl, XTO, Loomer 41X-4G, Tobacco Garden, no production data,
  • 26005, 342, Hunt Oil, Bear Butte 1-15-16H, Pembroke, t12/13; cum 6K 12/13;
  • 26111, 286,  CLR, Major Federal 1-6H, Squaw Gap, t10/13; cum 9K 12/13;
  • 26112, drl, Hess, EN-Chamley 156-93-0508H-2, Baskin, no production data,
  • 26113, drl, Hess, EN-Chamley 156-93-0508H-3, Baskin, no production data,
Sunday, February 23, 2014
  • 25209, drl, HRC, Fort Berthold 148-95-27B-34-5H, Eagle Nest, no production data,
  • 25473, 931, XTO, Kerbaugh 31X-4D, Beaver Lodge, t12/13; cum 3K 12/13;
  • 25600, drl, KOG, P Scanlan 153-98-16-9-5-12H, Truax, no production data,
  • 25784, drl, BR, CCU William 14-20TFH, Corral Creek, no production data,
  • 25954, 203, American Eagle, Kent 1-3N-163-101, Colgan, t10/13; cum 14K 12/13;
  • 25959, drl, CLR, Haffner 1-31H, Noonan, no production data,
Saturday, February 22, 2014
  • 25336, 2,129, EOG, Wayzetta 137-2226H, Parshall, t9/13; cum 216K 12/13;
  • 25423, drl, XTO, Alice 44X-34H, Siverston, no production data,
  • 25940, 56, Luff, State Miller M-16H, State Line, a Red River well, t11/13; cum 2K 12/13;
  • 26009, dry, Newfield, Holm 150-98-8-5-4H, Siverston, 

25336, see above, EOG, Wayzetta 137-2226H, Parshall (215,000 bbls in less than five full months):

DateOil RunsMCF Sold

US Oil Rigs Count Hits New High For 2014

Yahoo!Finance (Baker Hughes) is reporting:
Last week, the Baker Hughes oil rig count increased from 1,416 to 1,423, the highest level since 2014 began. Oil rig counts have risen by 45 (or 3%) since the beginning of 2014, with a large part of the increase in the Permian Basin in West Texas (+21), as well as the Niobrara/DJ in the Rockies (+6), and the Cana Woodford in Oklahoma (+6). Out of the current 1,423 oil rigs at work, the majority are either in the Permian (480), the Eagle Ford (187), the Williston (176), the Mississippian (68), or the Granite Wash (49).

Active rigs in North Dakota:

Active Rigs18718120416897