Active rigs:
| 8/25/2014 | 08/25/2013 | 08/25/2012 | 08/25/2011 | 08/25/2010 | |
|---|---|---|---|---|---|
| Active Rigs | 192 | 184 | 189 | 195 | 138 |
Monday, August 25, 2014
- 19474, drl, Fram Operating, Nailor Trust 1, wildcat, 32-160-86, no production data,
- 25869, 2,938, QEP, Pogo 2-28-33TH, Grail, t3/14; cum 77 6/14;
- 25870, see below, QEP, Pogo 2-28-33BH, Grail, huge well,
- 25871, 2,322, QEP, Pogo 1-28-33BH, Grail, t3/14; cum 62K 6/14;
- 26196, drl, Murex, Diane Renee 3-10H, Writing Rock, no production data,
- 26319, 2,183, QEP, Pogo 28-33-27-34LL, Grail, t3/14; cum 64K 6/14;
- 26328, conf, XTO, Boomer Federal 34X-35H, Lost Bridge, no production data,
- 26467, 1,007, Newfield, Scott 150-99-13-24-4H, Siverston, t5/14; cum 30K 6/14;
- 26798, drl, HRC, Fort Berthold 152-94-24D-13-5H, Antelope, no production data,
- 26883, drl, Abraxas, Ravin 26-35-6H, North Fork, no production data,
- 27273, drl, Hess, EN-Hermanson-LE-155-93-3501H-1, Robinson Lake, no production data,
- 27274, drl, Slawson, Cruiser 3-16-9H, Big Bend, no production data,
- 27423, drl, XTO, Lyla 24X-10A, Lindahl, no production data,
- 27577, drl Statoil, Barstad 23-14 3H, Alger, no production data,
- 27712, drl, Statoil, Syverson 1-12 7TFH, Stony Creek, no production data,
- 21774, 244, Whiting, Ash Coulee Federal 44-18TFH, Ash Coulee, t4/14; cum 7K 6/14;
- 26483, 1,154, Whiting, Cherry State 31-16H, Pleasant Hill, t3/14; cum 56K 6/14;
- 26484, 1,482, Whiting, Cherry State 31-16-2H, Pleasant Hill, t3/14; cum 60K 6/14;
- 27450, drl, CLR, Hartman 8-28H1, Chimney Butte, no production data,
- 27634, 60, Enduro, MRPSU 30-42-H1, Mouse River Park, a Madison well, t4/14; cum 2K 6/14;
- 27675, drl, Slawson, Mole 3-20H, Big Bend, no production data,
- 27714, drl, Statoil, Syverson 1-12 5TFH, Stony Creek, no production data,
- 24002, drl, Statoil, Syverson 1-12 4H, Stony Creek, no production data,
- 26884, drl, Abraxas, Ravin 26-35-5H, North Fork, no production data,
- 27062, drl, BR, Norman 21-4TFH 3SH, Johnson Corner, no production data,
- 27185, 125, Hunt, Smokey Butte 160-100-31-30H-1, Smoky Butte, t5/14; cum 2K 6/14;
- 27199, drl, Petro-Hunt, Watterud 160-95-11D-2-2H, Stoneview, no production data,
- 27576, drl, Statoil, Barstad 23-14 7TFH, Alger, no production data,
- 27713, drl, Statoil, Syverson 1-12 6H, Stony Creek, no production data,
*******************************
25869, see above, QEP, Pogo 2-28-33TH, Grail:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 19817 | 4769 |
| 5-2014 | 24806 | 20541 |
| 4-2014 | 22010 | 12172 |
| 3-2014 | 10255 | 5628 |
25870, see above, QEP, Pogo 2-28-33BH, Grail:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 10372 | 4287 |
| 5-2014 | 13624 | 22431 |
| 4-2014 | 19953 | 9709 |
| 3-2014 | 13462 | 6796 |
25871, see above, QEP, Pogo 1-28-33BH, Grail:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 10304 | 4628 |
| 5-2014 | 10022 | 19699 |
| 4-2014 | 25550 | 11561 |
| 3-2014 | 16310 | 9279 |
26319, see above, QEP, Pogo 28-33-27-34LL, Grail:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 16750 | 4180 |
| 5-2014 | 15235 | 17935 |
| 4-2014 | 21396 | 0 |
| 3-2014 | 9957 | 0 |
26467, see above, Newfield, Scott 150-99-13-24-4H, Siverston:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 12585 | 15863 |
| 5-2014 | 16886 | 23215 |
26483, see above, Whiting, Cherry State 31-16H, Pleasant Hill:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 8178 | 10545 |
| 5-2014 | 6225 | 9127 |
| 4-2014 | 14044 | 23588 |
| 3-2014 | 19012 | 12944 |
| 2-2014 | 7992 | 3698 |
26484, see above, Whiting, Cherry State 31-16-2H, Pleasant Hill:
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 6-2014 | 7884 | 6342 |
| 5-2014 | 8719 | 9496 |
| 4-2014 | 15380 | 27205 |
| 3-2014 | 27307 | 27655 |
| 2-2014 | 0 | 174 |
******************************************
The Bakken: Second Impressions
I doubt legislators in Bismarck are really paying much attention to the Bakken. Not paying attention to something is how things take us by surprise. I have always been and remain inappropriately exuberant about the Bakken, but there are some realities.
Some random comments and/or observations that I have heard or seen in the first 48 hours after being back in the Bakken:
"A lot of oil service companies are moving out of the Bakken. There are too many oil service companies up here. Baker Hughes moved out." Of course, BHI did not move out completely, but I was told they no longer frack, only in "tools." I don't know. See comments below: BHI is still fracking in the Bakken, though their crews may now be based out of Dickinson, Minot. If accurate, and it sounds like it's accurate, it makes a lot of sense -- facility capacity for BHI in Dickinson, Minot where they also have huge footprint, AND it probably costs their folks less to live there. -- updated August 25, 2014.
"This past year was the worst year I ever had. There's no work." -- a welder.
The Bakken accounts for 12% of American oil production.
Daily posts at RBN Energy suggest there's a huge glut of light oil hitting the market, and the glut will only get worse. The US still needs to import oil because "light oil" is the wrong kind of oil for refineries along the gulf coast. What they need is heavy oil from Canada but the US "embargoes" Canadian heavy oil, preferring the same stuff from Venezuela.
The word on the street in Williston is that oil will hit $80/bbl. That's WTI. Bakken oil sells for a huge discount to WTI -- it fluctuates based on the amount of light oil hitting the markets. I used to say the Bakken would do fine at $60/bbl (investors wouldn't) but that was before the Permian and the Eagle Ford. Now I'm not so sure.
North Dakota is producing 1 million bopd. Texas could add another 1 million bopd in production by this time next year. If there's a glut of light oil hitting the market now, and Texas does add another 1 million bopd by next year ... [memo to self -- insert Lana Del Rey's Summertime Sadness here].
Pad drilling is changing everything. Lots of unanticipated consequences. My hunch is truck traffic is way down. Could be wrong. But I certainly don't see as many 18-wheelers as I did last summer. Maybe all the new bypasses are changing things. Maybe they're just spread out. Maybe the truckers are where I'm not. The traffic, in general, however, is way up. POVs and commercial pick-ups and specialty trucks. Part of the congestion is due to all the road construction in Williston and the school year starting, but still, there's a lot of traffic. Where it used to take me three minutes to get to the coffee shop (driving), it now takes four minutes. Is that a 25% increase or a 33% increase in driving time?
The residential units keep going up. As much as ever. Folks worry that they are over-building. When will we know that we have enough? Driving up to the Bakken a couple days ago, I passed a "hotel" that was built about two years ago. Of course, it was fully occupied the day the doors opened. But this time it appears the hotel was now corporate headquarters and living quarters for a earth-moving company; the parking lot was full of brand new earth-movers. I don't think it was a dealership. Smile.
I haven't checked to see if there's been any change (doubt it) but a year or so ago, one of the biggest motels (pre-boom) was turned over to one oil company.
The big road construction projects are nowhere near the end. The five-lane construction project between Watford City and Williston has a long way to go. And we haven't even begun to see movement on the new bridge across the Missouri south of the 4-mile corner west of Williston. That's not going to be a trivial project.
What oil activity we see along the major thoroughfares in western North Dakota pales in comparison to what is going on in the back country.
A lot more families, children, college, co-eds out and about. Many, many more young couples. The demographics are changing.
Few discouraging words are heard in the Bakken.