Thursday, June 5, 2014

Oasis Sets Record For Number Of Wells Coming Off Confidential List In One Day -- June 6, 2014; Oasis To Report Several Huge Wells

... the number of active rigs jumps to recent high (195); some incredible wells were reported today; another seventeen (17) permits; the price of WTI oil holds; and the market surges. Say what you want, there are some incredible stories out there. There was a reason the "The Oil Drum Blog, aka Peak Oil" closed shop last year. There's a glut of oil and the price holds. What's not to like? Where do I even begin?

There's so much to talk about, I don't even want to talk about it, so without further ado:

Amy Belle, Rod Stewart, I Don't Want To Talk About It

Okay, with the wells coming off the confidential list Friday, June 6 -- D-Day, 1944 -- 2014:
  • 24927, 1,760, Oasis, Wayne Zumhof Federal 5300 44-15T, Willow Creek 1st Bench Three Forks, 36 stages, 3.8 million lbs sand/ceramic, t1/14; cum 32K 4/14;
  • 25221, 2,074, Oasis, Aspen Federal 5300 24-15B, Willow Creek, middle Bakken, 36 stages, 3.7 million labs sand/ceramic, t2/14; cum 54K 4/14; 
  • 25393, 2,614, Oasis, Augusta 5200 11-28B,  Camp, t1/14; cum 53K 3/14;
  • 25577, 3,134, Oasis, Ida 5200 21-28B, Camp, t1/14; cum 63K 4/14;
  • 25689, 1,992, Oasis, Crawford 5493 44-7T, Robinson Lake, t12/13; cum 35K 4/14; 
  • 25693, drl, Hess, BW-Johnson 149-99-1003H-2, Cherry Creek, no production data,
  • 25725, 1,468, Oasis, Jase 5892 21-30T, Enget Lake, t2/14; cum 25K 4/14;
  • 25726, 1,450, Oasis, Mahaila 5892 21-30H, Enget Lake, t2/14; cum 32K 4/14;
  • 25740, 810, Oasis, Fairfax 6093 12-26B, Gros Ventre, middle Bakken, 36 stages, 4.5 million lbs sand; t12/13; cum 27K 4/14;
  • 26057, 1,593, Oasis, Montague 5602 42-34 5B, Cow Creek, t2/14; cum 17K 4/14;
  • 26124, 1,041, Oasis, Lefty 5200 14-30 2T, Camp, t4/14; cum 13K 4/14;
  • 26178, 1,391, Oasis, Satsuma 5693 44-35B, Alger, t4/14; cum 11K 4/14;
  • 26179, drl, Oasis, Clementine 5693 44-35T, Alger, no production data,
  • 26182, 140, Oasis, Morgan 6093 12-6 1H, Gros Ventre, 1st Bench Three Forks, 36 stages; 4.3 million lbs sand; t1/14; cum 13K 41/4;
  • 26738, conf, Hess, Ti-Wao-157-95-14H-1, Tioga, no production data,
Active rigs:

Active Rigs195191213171121

Seventeen (17) new permits --

A Horse With No Name, America
Wells coming off the confidential list were reported earlier; the list includes another "high-IP" well being reported by Burlington Resources.

Eleven (11) producing wells were completed:
  • 24271, 2,376, HRC, Fort Berthold 147-94-3B-10-4H, McGregory Buttes, t4/14; cum 6K 4/14;
  • 24272, 2,588, HRC, Fort Berthold 147-94-3B-10-3H, McGregory Buttes, t4/14; cum 5K 4/14;
  • 25828, 2,880, BR, Rising Sun 21-1MBH-5NH, Clear Creek,  4 sections, t5/14; cum --
  • 25701, n/d, Hess, AN-Evenson 152-95-0310H-2, Antelope, a Sanish well, no IP, but active; 4K in first 3 days;
  • 25964, 349, Petro-Hunt, Syverson 156-99-30A-31-2H, East Fork, t5/14; cum --
  • 26074, 879, Hess, BL-Iverson 155-95-1819H-2, Beaver Lodge, t5/14; cum 3K 4/14;
  • 26098, 1,612, Petro-Hunt, Syverson 156-99-30B-31-4H, East Fork, t5/14; cum --
  • 26114, 836, Hess, EN-Chamley 156-93-0508H-4, Baskin, t5/14; cum 4K 4/14;
  • 26323, 3,138, HRC, Fort Berthold 148-95-22C-15-9H, Eagle, t4/14; cum 2K 4/14;
  • 26655, 1,652, Statoil, Ross-Alger 6-7 6H, Alger, t5/14; cum --
  • 26971, 1,016, Statoil, Ross-Alger 6-7-7TFH-R, Alger, t5/14; cum --; I track re-entry wells here; but in this case, the "R" stands for "revised" -- not re-entry, apparently.
This is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here, but it doesn't take a Bakken geologist tell me that these are great Halcon wells. I've said many times that a hundred Bakken wells won't move Exxon's needle, but one or two great wells will certainly move Halcon's needle. So, what did the market think of these Halcon results (remember: the price of oil fell slightly today). So, let's check HK over at Yahoo!Finance: ooooohhh.... that's nice --- HK up over 4% today. And up a nickel after hours.

YMCA, The Village People
So, where we? Oh, yes, Oasis will report a record number of wells in one day. Here is a glimpse of some of the wells coming off the confidential list tomorrow:
  • 25221, see above, Oasis, Aspen Federal 5300 24-15B, Willow Creek, producing, a huge well:
DateOil RunsMCF Sold

25393, see above, Oasis, Augusta 5200 11-28B,  Camp, a huge well:

DateOil RunsMCF Sold

25577, above, just above the ABBA video, Oasis, Ida 5200 21-28B, Camp, a huge well:

DateOil RunsMCF Sold

So, what will investors think about Oasis tomorrow? Today, for Oasis: down almost a percent, just under $50/share. Remember, HK went up for 4% today.

For Investors Only

Trading at 52-week highs: AAPL (again -- a lot of shorts are being squeezed); CLR, DIS, EOG, ERF (again), OXY, PSXP (again), SRE, UNP, WMB. Others of note: CVX up almost 1%; COP down slightly but trading near its 52-week high; SLB near its 52-week high; CHK off its high, but up nearly 2% today;  TPLM solidly above $10, up almost 4% today.

That is because Triangle Petroleum is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for TPLM in this report. In fact, the Most Accurate Estimate for the current quarter is currently at 12 cents per share for TPLM, compared to a broader Zacks Consensus Estimate of 10 cents per share. This suggests that analysts have very recently bumped up their estimates for TPLM, giving the stock a Zacks Earnings ESP of 20.00% heading into earnings season.
EOG: the best oil producer in the United States -- Motley Fool.
Occidental Petro announces Form 10 filing related to spin-off of its California business:
Co announced that its subsidiary, California Resources Corporation (:CRC), has filed a Registration Statement on Form 10 with the SEC in connection with Occidental's previously announced plan to spin-off its California oil and gas business. Following its spin-off from Occidental, CRC will be an independent oil and natural gas exploration and production company focused on high-growth, high-return conventional and unconventional assets exclusively in California.
Phillips 66 acquires 7.1 million-barrel storage capacity terminal located near Beaumont, TX:
 The Beaumont Terminal will be the largest terminal in the Phillips 66 portfolio. The Beaumont Terminal is strategically located on the U.S. Gulf Coast. It provides deep-water access and multiple interconnections with major crude oil and refined product pipelines serving 3.6 million barrels per day of refining capacity. The terminal also has:
  • 4.7 million barrels of crude oil storage capacity and 2.4 million barrels of refined product storage capacity; 
  • Two marine docks capable of handling Aframax tankers and one barge dock; and 
  • Rail and truck loading and unloading facilities.
RBN Energy: Monterey Shale in California goes bust before it goes boom.

Job watch: first time claims for unemployment go up 8,000. The best line in the linked article is the very last line -- no, I did not make this up:
More jobs mean more people have paychecks to spend.
That's the kind of analysis American mainstream media does. They should have mentioned the hiring report yesterday was the worst in several months, and is almost the worse in the past year or so. 

And five lucky guys get to return to the desert where there is no music.

Due to circumstances beyond my control, I only had two hours on the internet today. I did not get to my mail.