Thursday, July 10, 2014

Thursday, July 10, 2014 -- Back To Reporting By Innings, I See

Clean Energy Fuels to double CNG capacity for Saddle Creek heavy-duty truck station and opens two more America's Natural Gas Highway Stations: Co announced plans to double the CNG station capacity at Saddle Creek Transportation's natural gas station in Lakeland, Fla., where an additional 25 heavy-duty natural gas trucks are expected to fuel. Additional fueling agreements recently signed have resulted in the construction of new natural gas stations to support Clean Energy's growing portfolio of natural gas fuel customers in the heavy-duty trucking, ready-mix and transit market segments.

Shale boom confounds forecasts as US is set to surpass Russia, Saudi Arabia. Reuters is reporting:
Four years into the shale revolution, the U.S. is on track to pass Russia and Saudi Arabia as the world's largest producer of crude oil, most analysts agree. When that happens and by how much, though, has produced disparate estimates that depend on uncertain factors ranging from progress in drilling technology to the availability of financing and the price of oil itself.
Forecasts for U.S. shale oil production vary from an increase of 7.5 million barrels per day by 2020 – almost doubling current domestic output of 8.5 bpd -- to a gain of 1.5 million bpd, or less than half of what Iraq now produces.
The disparities are a function of the novelty of the shale boom, which has consistently confounded forecasts. In 2012, the U.S. Energy Information Administration (EIA) estimated that production from eight selected shale oil fields would range from 700,000 bpd of so-called tight oil to 2.8 million bpd by 2035. A year later, those predictions had been surpassed.
"The key issue is not whether production grows, it's by how much," said Ed Morse, global head of commodities research at Citigroup in New York. "We're only at the beginning of the first inning and this is a nine-inning game."

VERY LITTLE BLOGGING -- On The Road -- Traveling; Nine (9) New Permits -- The Williston Basin, North Dakota, USA; -- Wednesday, July 9, 2014

VERY LITTLE BLOGGING -- On The Road -- Traveling

Wells coming off confidential list Thursday:
24325, drl, CLR, Topeka 5-12H, Brooklyn,
25220, 1,587, Oasis, Birch Federal 5300 24-15T, Willow Creek, t2/14; cum 35K 5/14;
25724, 1,566, Oasis, Barnes 5892 21-30B, Enget Lake, t2/14; cum 48K 5/14;
25897, 1,734, MRO, Chase USA 21-15H, Moccasin Creek, t6/14; cum 5K 5/14;
26224, A, Oasis, Elm 5892 42-12 1H, Cottonwood, no IP, cum 12K 5/14;
26225, 344, Oasis, Foxtail 5892 42-12 1H, Cottonwood, t1/14; cum 20K 5/14;
26502, 582, Oasis, Hendricks 5602 43-36 2T, Tyrone, t5/14; cum 2K 5/14;
26781, 1,071, Oasis, Ava 5693 43-35T, Alger, t4/14; cum 1K 5/14;
26821, drl, XTO, Boe State 31X-16D, Beaver Lodge,
26946, 1,806, XTO, Lucy 14X-32F, Siverston, t5/14; cum 3K 5/14;
27121, 201, CLR, Winchester 43-8SH, Cedar Hills, a Red River well, t3/14; cum 26K 5/14;
27281, 28, Enduro, Hay Draw 21-33, Hay Draw, a Stonewall formation well, t5/14; cum -- 

Active rigs:

Active Rigs189186212170131

Nine (9) new permits --
  • Operators: Triangle Petroleum (4), SM Energy (3), CLR (2)
  • Fields: Elk (McKenzie), Camp (McKenzie), Pembroke (McKenzie)
  • Comments:
Wells coming off confidential list today will be posted in the usual place; see sidebar at the right. 

Two (2) producing wells completed:
  • 25989, 2,338, HRC, Fort Berthold 148-94-20C-21-4H, Eagle Nest, t6/14; cum 2K 5/14;
  • 27193, 495, EOG, Austin 87-36H, Parshall, t6/14; cum 3K 5/14;

Baytex To Sell Some Acreage In North Dakota Bakken?

A big "thank you" to a reader for alerting me to this. A source in North Dakota suggested one of the bigger operators in North Dakota might get bigger, acquiring Baytex acreage in Divide County.

Link here.
Baytex Energy Corp. has identified assets that could be sold by yearend, in a process that one analyst said may raise as much as C$400 million ($375 million.)
The Calgary-based oil and natural gas exploration and production company said the assets constitute 5 percent to 10 percent of current production. The review was launched after Baytex acquired Aurora Oil & Gas Ltd. this year, expanding its reach in the Eagle Ford formation in East Texas.
Brian Ector, a Baytex spokesman, said the company is focusing on more lucrative projects.
“We’re going to direct capital to the highest rate of return projects in our portfolio, which is really the Eagle Ford; it’s Peace River, and it’s the Lloydminster region,” he said in a telephone interview.
He declined to name which assets were candidates for sale. Ector said the company had been working with some banks already for a potential sale.
“This process will unfold over the course of this year,” he said.
Chris Cox, a Raymond James analyst, said the company’s North Dakota Bakken acreage could be put up for sale, noting it makes up about 4 percent of current production.
Baytex could generate between C$300 million and C$400 million in proceeds from the sale of the Bakken assets that would help focus the portfolio and reduce debt from the Aurora acquisition, Cox said.
Ector said the North Dakota Bakken acreage could be on the auction block.