Whiting's P Lynch Wells; Whiting Adds Eight (8) More Permits To Stockyard / Epping Oil Fields -- March 6, 2015

Updates

June 6, 2016: Whiting reports the results of three more P Lynch wells.  This is what the area looks like today:

February 3, 2016: I didn't see the sundry form (though I didn't look too hard), shortly after the permits were issued, the names of the four Stockyard Creek wells were changed:

• 30853, 1,452, Whiting, Ronna 21-4TFH/P Lynch 155-99-14-33-9-14H3, Stockyard Creek, t1/16; cum 198K 4/20; cum 218K 7/22;
  
• 30852, 2,954, Whiting, Connie 31-4H/P Lynch 155-99-14-33-9-14H, Stockyard Creek, t12/15; cum 320K 4/20; cum 349K 7/22;
• 30851, PNC, Whiting, P Sue 31-4TFH/Lynch 155-99-14-33-9-15H3, Three Forks B3, Stockyard Creek,
• 30850, 2,015, Whiting, Marty 31-4H/P Lynch 155-99-14-33-9-15H, Stockyard Creek, t12/15; cum 290K 5/19; cum 357K 7/22;
• 30849, PNC, Whiting, P Lynch 155-99-14-33-28-3H3, Epping, last checked 5/19;
• 30848, 2,249, Whiting, P Lynch 155-99-14-33-28-3H, Epping, t12/15; cum 296K 5/19; came off line 4/19; remains off line 4/20; back on line; cum 322K 7/22;
  
• 30847, PNC, Whiting, P Lynch 155-99-14-33-28-3H3A, Epping, last checked 5/19;
• 30846, 3,017, Whiting, P Lynch 155-99-14-33-28-2H, Epping, t12/15; cum 312K 7/22;
  

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30846, see above, Whiting, P Lynch 155-99-14-33-28-2H, Epping:

Date	Oil Runs	MCF Sold
2-2016	20076	30712
1-2016	35377	43304
12-2015	25440	1580

30848, see above, Whiting, P Lynch 155-99-14-33-28-3H, Epping:

Date	Oil Runs	MCF Sold
2-2016	22989	31881
1-2016	40221	9242
12-2015	18844	0

30850, see above, Whiting, Marty 31-4H/P Lynch 155-99-14-33-9-15H, Stockyard Creek:

Date	Oil Runs	MCF Sold
2-2016	26987	38007
1-2016	22030	14952
12-2015	24284	1428

30852, see above, Whiting, Connie 31-4H/P Lynch 155-99-14-33-9-14H, Stockyard Creek:

Date	Oil Runs	MCF Sold
2-2016	25340	33964
1-2016	29706	19549
12-2015	40475	1474

30853, see above, Whiting, Ronna 21-4TFH/P Lynch 155-99-14-33-9-14H3, Stockyard Creek:

Date	Oil Runs	MCF Sold
2-2016	7234	8772
1-2016	26671	18547
12-2015	10719	4124

Original Post

 

Look at the location of the Rennerfeldt wells at this post.

Whiting has added another group of permits for eight (8) more wells, same configuration it appears, exactly one mile to the west, sited in section 33-155-95. Four P Lynch wells will run south into Stockyard Creek; four wells will run north in Epping oil field:

• 30853, see above in the update, Whiting, P Lynch 155-99-14-33-9-14H3, Stockyard Creek, 
• 30852, see above in the update, Whiting, P Lynch 155-99-14-33-9-14H, Stockyard Creek, 
• 30851, see above in the update, Whiting, P Lynch 155-99-14-33-9-15H3, Three Forks B3, Stockyard Creek, 
• 30850, see above in the update, Whiting, P Lynch 155-99-14-33-9-15H, Stockyard Creek, 
• 30849, see above in the update, Whiting, P Lynch 155-99-14-33-28-3H3, Epping,
• 30848, see above in the update, Whiting, P Lynch 155-99-14-33-28-3H, Epping,
• 30847, see above in the update, Whiting, P Lynch 155-99-14-33-28-3H3A, Epping,
• 30846, see above in the update, Whiting, P Lynch 155-99-14-33-28-2H, Epping, 

Week 9: March 1, 2015 -- March 7, 2015

The big story continues to be the slump in oil prices. The number of active rigs dropped to a Bakken boom low of 113 before ending the week at 114 active rigs.

Operations
Hess to increase LNG production 8-fold at its Tioga plant
New operator in the Bakken? Basin Shale ND, LLC

Bakken 101
Heel-to-toe, toe-to-heel, halo effect of fracking
Update on tax break for operators if price of oil remains low

CBR
Another crude oil train derailment; no injuries, Galena, IL 

Bakken Economy
Williston Wireline -- location of permanent FBI office in Williston announced
$5 million bypass west of Dickinson approved
Random update on rents in the Bakken
Location of Jamestown plastics plant to be delayed
Saudi imports (into US) hit lowest mark in 25 years (one exception)
Killdeer -- BOOM!

Investing
Oasis issues significantly more shares at about $13/share

Eleven (11) New Permits -- March 6, 2015

Active rigs:

	3/6/2015	03/06/2014	03/06/2013	03/06/2012	03/06/2011
Active Rigs	114	191	186	206	172

Wells coming off the confidential list today were posted earlier; see sidebar at the right.

Eleven (11) new permits --

• Operators: Whiting (8), EOG (3)
• Fields: Epping (Williams), Stockyard Creek (Williams), Parshall (Mountrail)
• Comments: circling the wagons; gonna see how much the sweets spots can handle in terms of activity

Fidelity canceled five permits, all in Stark County: a Katie, an Austin, a Wallace, a Mike, and a Horse Fence permit.

Triangle re-surveyed three Anderson locations in McKenzie County.

Apple Tea ... Leaves -- March 6, 2015

Rumor has it that Apple will be announcing updated MacBook Pros and MacAirs on Monday, March 9, 2015 -- just three days from now.

Shipping time for MacBook Pros and MacAirs has slipped. They used to ship "same day." Starting today, MacBook Pros and MacAirs won't ship for "one day." That one day is a "business day" -- Friday/Monday which suggests to many that if you had planned on ordering a MacBook Pro / MacAir today (the old version) you can still do so (order your laptop) but it won't ship until after Monday's announcement (and you will get the new version). Still rumor.

That announcement could be the "one more thing" that is announced alongside the Apple Watch Monday.

For newbies, this is the simplified Apple line-up, smallest to largest in footprint:

• Apple watch: coming (priced from $349 to $10,000)
• iPods: going
• iPhones: two current models; many, old inexpensive models still around
• tablets: several versions, various sizes, retina or non-retina; larger one coming
• laptops: two -- the MacBook Pro (the workhorse, C-130 of laptops); the MacAir (the Lear Jet of laptops); to be updated
• desktops: iMac; several sizes; older versions with disk drive; newer versions without -- just very, very thin
• super desktop: one

Caveat: that's my take on Apple line-up; it's not entirely correct/accurate, but it's good enough for me. For that, you need to go to Apple.com.

Just a quick note before I sign off for a bit: my workhorse is the MacBook Pro. Off and on over the past few days I have been using my wife's MacAir. The latter is incredible; wow, it's fast and light. It's very possible by the end of the year, I could have my own MacAir but if they come out with a larger (footprint) tablet, that's going to be tough to resist. But most likely, being the "cheap" person I am, I won't get either. Whatever.

Back to that $10,000 watch, at the link:

“Apple has always been about ‘affordable luxury’: at the higher end of the price range and with a premium feel, but it’s always been within reach of the ordinary consumer,” says Jan Dawson, technology analyst at Jackdaw Research. “This is the first time that Apple has moved into straightforward luxury.” 

A trillion-dollar company needs to set itself apart from all the also-rans.

The iPad. A lot of folks seem to be concerned about the iPad -- that it isn't pulling its own weight financially compared to the rest of the Apple line. Hold that thought. Link here. 

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Ice Age Now

Thor

Detroit breaks 114-year low temperature record
Washington, DC, record cold 

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How Blondie Created "Heart Of Glass"

The Wall Street Journal is reporting:

Mr. Stein: Originally, Debbie’s second line of the song was, “Soon turned out, he was a pain in the ass.” Mike thought that might not play well on the radio, so I threw out a phrase, “heart of glass,” which everyone liked. Debbie worked it in as “Soon turned out, had a heart of glass.” That’s the title we used on the song.

Heart of Glass, Blondie

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And The Maltese Falcon

My wife doesn't understand it, but I can watch the same movie five times in a row over the course of two or three nights when I get into "the mood."  Casablanca; The Great Gatsy (DiCaprio), Lost In Translation, Sunset Boulevard, The Big Lebowski, Only Lovers Left Alive, Midnight in Paris, The Maltese Falcon.

It was nice to see a column on the book itself, The Maltese Falcon, in today's WSJ: 

“It is the ultimate detective novel, and frankly not just detective novel,” Mr. Larson said. “I think it’s one of the best novels, period… Here’s this writer, here’s Hammett, who in 217 pages creates this world with four of the absolutely most vivid characters that literature, I think, has ever come up with.” 

I don't think I ever read a Zane Grey western, but my hunch is there are more than several devoted Zane Grey fans that check in on the blog every so often.

So, what am I reading now? I generally read several books at one time, remembering very little from each, but with notes, it helps. Athens by Christian Meier, is the big book right now; but I'm also starting to read Alison Weir's Eleanor of Aquitaine for the second time.  I have to keep reading and re-reading British history to remember it, but I think I finally know where Eleanor fits in.

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In Case You Missed It

You Don't Own Me, Klaus Nomi   From a comment regarding Leslie Gore's version: In 1964, this song/attitude was revolutionary. My sister worked at an A&W drive-in the summer it came out. It was the "car-hops" theme song. When they had a bad night, or pushy customer, they would come in and say "SOMEONE play B-16, NOW! and TURN IT UP!!"
To send a message out to the lot.

Friday, March 6, 2015

Active rigs:

	3/6/2015	03/06/2014	03/06/2013	03/06/2012	03/06/2011
Active Rigs	113	191	186	206	172

There are no MRO rigs actively drilling in Dunn County at the moment. Link here.  UPDATE: a reader tells me that there is still a Marathon rig in the far northwest corner of Dunn County. 


RBN Energy: NGL infrastructure in the northeast.

In the five years since gas production began to take off in the Marcellus, gas processing capacity in the northeast has expanded nearly 13 times over from 600 MMcf/d to 7,600 MMcf/d. Natural gas liquids (NGL) production from those plants began to expand significantly in 2011 and is now over 245 Mb/d. Midstream companies have developed gas processing infrastructure from a small group of stand-alone plants into a fully integrated system designed to operate without the luxury of significant NGL storage capacity. Today we begin a new series describing how the innovative infrastructure build-out has overcome regional constraints.

From SeekingAlpha:

• Apple will take AT&T's spot in the Dow Jones Industrial Average following the March 18 close.
• Since the Dow is price-weighted rather than market cap-weighted, the change was made possible by Apple's 2014 7:1 split. As of right now, Apple will account for 4.7% of the Dow's weight. 

A shout-out to Apple Tech Support: yesterday my wife noticed that she was getting her Yahoo! e-mail on her MacAir but not to her iPhone. A google search revealed this is not particularly unusual but we were not able to correct the problem on our own. May called Apple Tech Support, and was talking with a technician almost immediately (I didn't ask, but it did not seem she was on hold at all). She was in another room out of earshot so I don't know all the details but she was on the phone with tech support for, I bet, 45 minutes. The problem was solved, but the Apple technician has no idea how the problem began in the first place. In the end, it appears, my wife and Apple simply re-initialized everything. At one point she was on three devices: her MacAir, her iPhone 6, and my Samsung 2009 (or thereabouts) clamshell dumbphone.

Hourly Earnings Rise, Unemployment Drops, Jobs Jump -- What's Not To Like -- March 6, 2015

Everybody was expecting a dismal February jobs report because of global warming winter cold but surprise, surprise: one of the best months ever. Reuters is reporting:

U.S. employment accelerated in February and the jobless rate fell to a more than 6-1/2 year low of 5.5 percent, signs that could encourage the Federal Reserve to consider hiking interest rates in June. 

Nonfarm payrolls rose 295,000 last month after rising 239,000 in January, the Labor Department said on Friday. The decline in the unemployment rate from 5.7 percent in January took it to its lowest level since May 2008.

The data suggested the U.S job market continued to strengthen, although the drop in the jobless rate largely reflected people leaving the labour force. Average hourly earnings rose by three cents last month.

The gazillions of dollars in stimulus worked. Happy days are here again. This means Ms Yellen can feel free to raise rates next month. 

By the way, unemployment is now at 5.5% I feel strongly that full employment in the US should now be reached whenever unemployment is 6% or less. We all know the figures are massaged and adjusted and don't reflect reality, but they are what they are. Comparing apples to apples: full employment historically defined as 4% does not reflect the incredible social safety net now in place, particularly with disability (physical and mental heath) coverage. With technology shifts thrown in, cost of living, quality of life, 6% certainly equates favorably to 4% unemployment back in the 50's. Not many unemployed folks had large flat-screen televisions in 1951; I assume it's the rare unemployed individual toda that lives in a house without a large flat-screen television. In addition, there are headlines suggesting all the newly arrived, undocumented immigrants will be getting federal checks just for being here. Unemployment at 5.5% -- huge milestone. The market agrees: it's down 250 points -- momentum traders know that Janet Yellen is itching to raise rates.