Wednesday, August 5, 2015

Not A Bad Well For A Very Short Lateral (320-Acre Spacing) -- August 5, 2015

Folks might want to take a look at this well, a stacked dual lateral, only 320 acre-spacing. I track this well here.

August 5, 2015:

  • 21386, 1,905, White Butte Oil Operations, LLC, Panzer 2-20MLH, Antelope oil field, Sanish Pool, 320 acre-spacing, t4/15; cum 56K 6/15;
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
SANISH6-2015302032120246776730465030315
SANISH5-2015291949419744865129116028971
SANISH4-2015211641215672728724400024295

Check out the three (3) Panzer wells at this post.

Hess Completes A Lodgepole Well Outside Of Tioga, North Dakota -- August 5, 2015

The last update I had for this well was August 17, 2014:
  • 26738, A, Hess, Ti-Wao-157-95-14H-1, Tioga, this is a Lodgepole well; Hess will come back to this well on/about May 7, 2014, to drill this well to TD of 13,693 feet; and then complete it with a multi-stage acid frack; the company will core the upper and the middle Lodgepole; the company will also core the upper, middle, and lower Bakken; the company will core the 1st and 2nd benches of the Three Forks, and the upper 30' of the Three Forks third bench; 640-acre spacing for a Lodgepole well. [Updates: 12/14: no production since early September, 2014; Update: actually produced 60 bbls in one day in April, 2015; also noted that well is now IA (previously TA)].
There is no new sundry sheet to explain anything yet. However, look at the production profile:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
LODGEPOLE5-201531344733842989502450240
LODGEPOLE4-201516002211991990
LODGEPOLE3-20150000000
LODGEPOLE2-20150000000
LODGEPOLE1-20150000000
LODGEPOLE12-20140000000
LODGEPOLE11-20140000000
LODGEPOLE10-20140000000
LODGEPOLE9-201410178917861167000
LODGEPOLE8-201478114441089000
LODGEPOLE7-201412118511851054000

This location of this Lodgepole well:


 Pretty cool, huh? And you only thought it was the Bakken.

IBM To Launch Services To Help Businesses Worldwide To Switch To Apple -- August 8, 2015

The big non-Bakken story last week was the announcement that IBM was switching its enterprise over to Apple computers. That's a huge story but based on stories coming out of Wall Street with regard to Apple, it sounds like a lot of folks don't understand how big the story is.

Maybe this will help. Macrumors is reporting that IBM has launched a new service to deploy Macs to businesses around the world.
IBM today announced the launch of a new service that will allow large companies to easily incorporate Mac computers into their preexisting corporate infrastructure. The service, being deployed by IBM's MobileFirst Managed Mobility Services unit, will be aimed at companies around the world and not just based in the United States.

Thanks to the MobileFirst partnership with Apple that has brought about multiple waves of enterprise-focused apps as the company has increased its own usage of Macs, IBM saw an opportunity to commercialize its expertise in "enterprise deployment" of Macs in the workplace.
This may simply be one of the biggest "non-merger" mergers in the history of IT. 

Imagine how big this story would be if it were to be a cover story for BloombergBusiness.

It's Against Sharia To Borrow/Lend Money, Charge Interest -- August 5, 2015

Saudi Arabia plans $27 billion in bond issues. Remember: the Islamic religion does not condone borrowing. The Financial Times is reporting:
Saudi Arabia is returning to the bond market with a plan to raise $27bn by the end of the year, in the starkest sign yet of the strain lower oil prices are putting on the finances of the world’s largest oil exporter
Bankers say the kingdom’s central bank has been sounding out demand for an issuance of about SR20bn ($5.3bn) a month in bonds — in tranches of five, seven and 10 years — for the rest of the year.
Previous posts:
To recap:
  • before the Iran sanctions, Saudi needed $100 oil to balance its budget
  • before the Yemeni war, Saudi needed $100 oil to balance its budget
  • before President Obama said Saudi's security was it's own responsibility, Saudi needed $100 oil to balance its budget
For almost the past year, Saudi Arabia has been giving away its oil for $50/bbl.

The Saudis will need $200 oil to make up for the past year of craziness.

Staggering Number Of Bakken Wells To Be Connected To ONEOK System; Texas Grid Reports Record-Breaking Demand -- August 5, 2015

It's going to take a lot of wind / solar to meet energy demands of the future. We've only just begun. Fuelfix is reporting:
The Texas electric grid broke the all-time record for hourly demand between 4 p.m. and 5 p.m. Wednesday as temperatures continue to peak above 100 degrees, according to the Electric Reliability Council of Texas.
The ERCOT system demand reached 68,459 megawatts within the record 60-minute time frame, which exceeded the previous Aug. 3, 2011 record of 68,305 megawatts. One megawatt is enough to power about 200 homes during periods of peak demand.On July 29, ERCOT asked Texas consumers to reduce their power use to reduce the chance of outages, though Jones said the electric grid has been able to provide capacity as high as 71,000 megawatts. It was the first system-wide conservation alert since March 4, 2014.
As for the record-setting Wednesday, ERCOT said wind power contributed about 2,500 megawatts during the peak.
2,500 / 68,459 = 3.7%.

Thank goodness for wind. Backed up by natural gas, of course. One cannot depend on wind; it's an intermittent energy resource.

**************************************
Free Market Capitalism In The Mideast

When you read this article, imagine the future of the US if we had an administration that actually cared for the well-being of the country and its citizens.

The New York Times is reporting: Qatar is the world's wealthiest country by output per capita with its LNG exports.
Once a poor nation whose economy depended on fishing and pearl diving, Qatar is a relatively new giant in the global energy trade.
In the 1970s, Shell discovered the world’s largest trove of natural gas, called the North field, in Qatari waters. But there was no market for the fuel. Potential customers in Europe were too far to reach via pipeline, the usual method. Shell walked away.
Looking to the example of Malaysia and Indonesia, Qatar and Hamad bin Khalifa al-Thani, who was then its emir, started promoting L.N.G. in the mid-1990s. Exxon Mobil was the important early investor; Shell, Total and ConocoPhillips soon followed.
Qatar and its energy partners took the business to a new level, developing far bigger and more efficient plants. Last year, Qatar produced about a third of all liquefied natural gas, although Australia and the United States have big export ambitions.
It is a lucrative business that has made Qatar the world’s wealthiest country by output per capita. While industry growth has recently been flat, worldwide volumes have roughly quadrupled in the last two decades to about 240 million metric tons a year, or 264 million short tons, accounting for about one-third of overall gas exports. Annual sales are estimated at $180 billion.
I think the writer at the NYT completely missed the bigger story.

************************
Staggering

Updates

August 14, 2015: Seeking Alpha has a bit more on this

Original Post
Reuters is reporting:
U.S. natural gas company Oneok Inc's chief executive officer said on Wednesday the company was on track to connect more than 700 wells in the Williston shale basin in North Dakota in 2015 and forecast connecting more than 600 next year.
Oneok CEO Terry Spencer said the company connected more than 260 new wells in the Williston in the second quarter, bringing its year-to-date total to more than 560 new connections.
"There continues to be an inventory of flared gas in the Williston basin and we estimate approximately 145 million cubic feet per day is dedicated to the partnership, with the majority of the wells flaring already connected to our system," Spencer said, referring to Oneok Partners LP.

Tesla, Oh, Tesla, Don't Cry For Me -- August 5, 2015

Updates

August 6, 2015: when I wrote that note about the CFO departing Tesla, I thought I had heard he was leaving, but had forgotten, and didn't waste time looking it up. My memory is not so bad; he did announce he was departing -- just as soon as a replacement is found.  
Tesla's business is so weak that it had to guide 3Q and 4Q down, and all hints from Musk's comments on the conference call point to a capital raise coming extremely soon (within a few days?). Taking the issues one-by-one:
  • Deliveries: guidance is down; also, unable to say how many cross-over SUVs they plan to ship next month;
  • Loss per car is increasing: from $11K per car in December, 2014; to $16K per car now;
  • Financial: looks like Goldman Sachs and/or Morgan Stanley are getting ready to broker equity issue; possibly using idea of becoming a Uber competitor as an excuse; and,
  • Cash burn: $550 million in quarterly cash burn, Tesla basically needs to raise $2.3 billion not just in 2014, but every year.
Original Post
 
Well, well, well, isn't this interesting?

For those not paying attention, Tesla is burning through cash so quickly it had to put together a $750 million loan from seven banks just a few weeks ago, and it looks like more of the same.

Reuters is reporting that Tesla may have to raise even more cash.
Shares of Tesla Motors Inc fell about 6 percent on Wednesday after the electric car maker posted a wider quarterly loss and said it may raise more cash to offset heavy spending on expanded production.
Tesla lowered its full-year sales forecast to a range of 50,000 to 55,000 cars. Last year, Musk had forecast sales of 60,000 cars in 2015, but cut that earlier this year to 55,000.
He forecast vehicle sales next year of 83,000 to 93,000.

The company said it lost $184.2 million in the second quarter, compared with a loss of $61.9 million in the year-ago period. Revenue climbed 24 percent to $955.0 million, from $769.3 million, as car sales continued to rise. 
On an adjusted basis, Tesla said it lost 48 cents a share, less than the 60 cents analysts had expected. In the year-earlier period, Tesla said, it earned 13 cents a share on an adjusted basis.

With expenses still outstripping revenue, Tesla's cash reserves fell to $1.15 billion as of June 30, from $1.5 billion on March 31 and $1.9 billion on Dec. 31, bringing total cash burn in the first half to $755.0 million.
 
Earlier this year, Ahuja said total cash burn for the year should be less than $1.0 billion.
I wonder when CFO Deepak Ahuja makes an announcement that he is leaving Tesla to spend more time with his family.

Don't Cry For Me, Argentina, Madonna

The XTO Amundson Wells In Siverston Oil Field, The Bakken

Frack data is available for only one well. Check out the minimal amount of proppant used for #21602.

First 5-well pad:
  • 29074, 1,400, XTO, Amundson 34X-22A, Siverston, t7/15; cum 219K 6/19;
  • 29058, 1,728, XTO, Amundson 34X-22B, Siverston, t6/15; cum 203K 6/19;
  • 29060, 1,933, XTO, Amundson 34X-22C, Siverston, t7/15; cum 192K 6/19;
  • 29057, 1,973, XTO, Amundson 34X-22E, Siverston, t71/5; cum 134K 6/19;
  • 29059, 1,849, XTO, Amundson 34X-33F, Siverston, t7/15; cum 127K 6/19;
2nd 5-well pad:
  • 21602, 732, XTO, Amundson 44-22NWH, 16 stages, 182K lbs of proppant, t6/12; cum 139K 6/19;
  • 30752, 1,266, XTO, Amundson 44X-22CXD, t2/16; cum 180K 6/19;
  • 30751, 912, XTO, Amundson 44X-22H, t2/16; cum 158K 6/19;
  • 30750, 1,656, XTO, Amundso 44X-22D, t2/16; cum 177K 6/19;
  • 30749, 1,873, XTO, Amundson 44X-22HXE, t2/16; cum 169K 6/19;

Katie Ledecky Wins The 200-Free World Title -- August 5, 2015

The Katie Ledecky Page

From a reader:

http://reachforthewall.com/2015/08/05/katie-ledecky-wins-200-free-world-title-remains-undefeated-in-international-races/

The reader's note: I love this quote:
"Still, it was Ledecky, who has never contested the 200 free at an Olympics or worlds, who proved the class of the field as she continues to solidify her claim as the greatest U.S., or perhaps just the greatest, freestyler in history."  
The reader adds: "Kinda fun how the two that are pictured (Katie and Missy Franklin) both have ties to Williston, except Missy's is through her coach Todd Schmitz who is the son of Orel Schmitz (formerly of Williston).

Wow, makes my day. This is really a lot of fun to watch. 

Eight (8) New Permits, North Dakota, August 5, 2015

Active rigs:


8/5/201508/05/201408/05/201308/05/201208/05/2011
Active Rigs75193183206183

Wells coming off the confidential list Thursday:
  • 29577, drl/NC, XTO, Satter 31X-1D, Siverston, no production data,
  • 29614, drl/NC, WPX, Olive Mae 7-8-9HA, Van Hook, no production data,
  • 29730, drl, Hess, EN-Weyrauch B-154-93-3031H-11, Robinson Lake, no production data,
  • 30328, drl/NC, SM Energy, Nancy 4-14HN, West Ambrose, no production data,
Eight (8) new permits --
  • Operators: Hess (6), BR (2)
  • Fields: Hawkeye (McKenzie), Corral Creek (Dunn)
  • Comments: the six Hess permits are in the same section as #18201, see below
Newfield canceled three (3) Helsingborg permits in McKenzie County; Whiting canceled (1) P Johnson permit in Williams County.

Seven (7) producing wells were completed:
  • 29074, 1,400, XTO, Amundson 34X-22A, Siverston, t7/15; cum --
  • 29058, 1,728, XTO, Amundson 34X-22B, Siverston, t6/15; cum --
  • 29060, 1,933, XTO, Amundson 34X-22C, Siverston, t7/15; cum --
  • 29057, 1,973, XTO, Amundson 34X-22E, Siverston, t71/5; cum --
  • 29059, 1,849, XTO, Amundson 34X-33F, Siverston, t7/15; cum --
  • 29484, 1,773, Statoil, Charlie Sorenson 17-8 5TFH, Alger, t7/15; cum --
  • 29489, 1,850, Statoil, Bures 20-29 7H, Alger, t7/15, cum --

**************************

18201, 862, Hess, HA-State-152-95-1621H-1, open/cased hole; 700K lbs sand; t7/10; cum 358K 5/15; 

Wing Debris From Downed Malaysian Jet -- French Officials -- August 5, 2015

French officials confirm that the wing debris found on Reunion Island off Madagascar is, indeed, from that downed Malaysian jet.

Wednesday, August 5, 2015 -- Part IV: PAA Takes A Great Fall; DUCs; Gloom And Doom

DUCs

DUCs: the new acronym -- "drilled but uncompleted wells."

Rigzone is reporting:
Asking R.T. Dukes why oil companies are finishing up their drilled, but uncompleted (DUC) wells – bringing even more oil to weigh down an oversupplied market – his answer is simple: business is competitive.
“If this were a monopoly, they probably wouldn’t complete them, but the fact is they’ve got competitors across the globe and across the country. They’ve already spent the money to begin the well,” Dukes, research director at Wood Mackenzie, told Rigzone.
“They’re in the business of producing oil. If they wanted to leave it in the ground and be a storage company, they’d have a different business model.”
Numbering DUCs in the thousands may be a distortion of the true count. DUCs may occur naturally as part of the development of a single pad, which services multiple wells. So they’re a natural inventory for various plays, he said. Looking at the hard number of wells intentionally placed in the DUC stage is between 700 and 800.
Completing those wells will probably spill over into next year, but WoodMac doesn’t believe that when they’re at peak production – estimated between 250,000 to 350,000 per day – and it won’t be enough to move the market.
These guys are much smarter than I but I have trouble accepting the statement that "the hard number of wells intentionally placed in the DUC stage is between 700 and 800."

During the Bakken boom, DUCs peaked in the 425 range, but if the resources had been available, the actual number of DUCs in the Bakken would have been around 250, all things being equal. For argument's sake, let's agree that in the Bakken boom, DUCs peaked in the 425 range.

There may be in excess of 900 wells in DUC status in the Bakken as we speak. That would put approximately 500 wells in DUC status. I think it's quibbling whether this is due to operational reasons (pad drilling). Pad drilling was going to happen, but it's due precisely to the slump in oil prices that pad drilling appears to be the norm now. Whether it's 50% or 90%, I don't know but it is the norm. If it weren't for the low price of oil, we would not see this much pad drilling, and operational delay of fracking would be less.

But if the writer is correct, that with higher prices, DUCs will be completed, but it won't be enough to "move the needle" in terms of overall global production. So, we have all that CAPEX being taken off the market and now we have folks suggesting the DUCs won't move the needle ... and we're talking about $200 oil again.

***************************************
This is not an investment site.

Reporting today:
  • CLNE: misses by 2 cents; AP report;
  • CLR: beats by 9 cents; AP report; transcript to follow;
  • DNR: beats by 1 cent, misses on revenue, AP report;
  • NOG: beats by 8 cents; transcript to follow;
  • SD: a loss of 3 cents per share, but beat estimates by 5 cents; Motley Fool;
  • STR: beats by 1 cent, reaffirms guidance; AP report;
  • TSO: beats by 57 cents; approves 18% increase to dividend; AP report;
This list may not be entirely accurate; things change. 

Companies reporting yesterday have been posted.

Biggest story for companies reporting yesterday may be Plains All American as reported in The WSJ. PAA shares have dropped more than 12% and is paying almost 7%. This may be the real reason that PAA took such a great fall:
A California pipeline owned by Plains All American ruptured in May, causing an oil spill near Santa Barbara, CA. The company said Tuesday that its 2015 guidance assumes the pipeline won’t return to service this year. As a result, it reduced the midpoint of its outlook for adjusted earnings before interest, taxes, depreciation and amortization by $50 million, to $2.275 billion. [And all the king's men won't put the pipe together again....this year.]
Going through yesterday's list, the opportunities look huge. But remember, 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.

 ***************************
In Deep Doo-Doo?

Investopedia sees five frackers, including WLL, CLR, and EOG in deep trouble.
The bottom line. Think about this logically.
Do you think that all five of the companies listed above will suddenly turn their fortunes around and see a v-shaped recovery in their stocks?
The only way that could happen is if oil skyrocketed. Oil will not even see a sustainable lift, let alone skyrocket, since supply is high and demand is low.
Remember, China is significantly overleveraged and is on the verge of the biggest economic collapse in history. Demand for oil will not come from China.
In the United States, the Federal Reserve has done everything in its power to create an artificial landscape of economic growth, but in reality this has only led to debt-fueled growth across numerous industries. Now that these effects are wearing off, we will get to see the real picture, which is deflation.
Oil simply does not rise in a deflationary environment. That being the case, the five companies above are going to have a difficult time.
************************** 
Piling On

Reuters concurs:
After slashing spending by $180 billion to deal with one of the worst industry downturns in decades, oil companies are still bleeding cash and slipping further into debt to maintain dividends to shareholders.

Depressed crude prices - at below $50 a barrel Brent crude is half what it was a year ago - mean even more cuts are needed at new projects and existing operations. Companies trying to dispose of oilfields to raise cash could be forced to sell quickly and for less than they hoped.
There is little sign that the oil price will come to the rescue as the Organization of the Petroleum Exporting Countries (OPEC) continues to pump hard into an oversupplied crude market in response to explosive growth in U.S. shale oil.

Wednesday, August 5, 2015 -- Part III; Oklahoma To Cut Production In Light Of Earthquakes

Oklahoma operators to cut activity in light of "seismic activity." Oil & Gas Journal is reporting:
The Oklahoma Corporation Commission’s Oil & Gas Conservation Division (OGCD) announced plans to reduce oil and gas wastewater disposal well volume in a proscribed area of northern Oklahoma County and southern Logan County to try and (sic) reduce earthquakes.
Under the plan outlined in an Aug. 4 letter, operators will have a 60-day period during which volume will be reduced 38%, or about 3.4 million bbl under the 2014 total. Such a reduction will bring total volume for the area to a level under the 2012 total by about 2.4 million bbl.
An OGCD news release said the area saw its sharpest rise in seismicity start in late 2012. The agency has been studying the possibility of earthquake activity being caused by oil and gas wastewater disposal wells in the state.
Previously, the Oklahoma Geological Survey said it’s “very likely” that a majority of frequent earthquakes in recent years across central and north-central Oklahoma were triggered by the injection of produced water in disposal wells.
Oklahoma experienced a seismicity rate in 2013 that was 70 times greater than the background seismicity rate observed before 2008, OGS said in an April statement, adding the accelerating seismicity rate continued to increase during 2014.
Most Oklahoma earthquakes occurred within crystalline basement, deeper than most oil and gas operations, OGS said. Arbuckle formations overlie the crystalline basement.
Much, much more at the link. 

Wednesday, August 5, 2015 -- Part II -- Saudi Increases Production; California Gasoline Stocks Critically Low As We Enter Peak Driving Month

Tweeting now:  Saudi oil output +70K b/d in July to 10.57MM b/d; could produce 11MM b/d in 2H if it keeps up pace, Citigroup says.

Tweeting now: crude inventory report by @EIAgov down much more than expected: -4.4MM bbl for week ended July 31 to 455.3MM bbl.

Tweeting now:  with 21 deals valued at $27.7B, midstream boosts 2Q M&A activity in US oil and gas industry, ; overall M&A activity in US oil and gas industry during 2Q = 47 deals worth $38.8B, both up from 1Q

Tweeting now: Saudi Aramco ups Sep US-bound Extra Light, Heavy crude oil official selling prices from Aug by 70 cents/b, 20 cents/b respectively.

Tweeting now:  WEST COAST GASOLINE STOCKS remain critically low, at lowest level for more than 10 years. Before looking at the new graph, read the commentary from last week, July 29, 2015:


The good news: west coast refineries continued to ramp up crude processing and throughput hasnow reached near-average level:


It will be interesting to see the graph at the end of August. Will refiners in California be able to keep up with increased demand?

Meanwhile in PADD II, the Midwest, refinery utilization rates hit 100.3%. There is a lot of verbige to explain that but it comes down to one data point: the refiners are making a lot of money on cheap oil and high gasoline demand. For newbies, a map of the nation's PADD is at this link; PADD 2 includes the Bakken and Oklahoma, everything in between and east to Indiana.

Reunion Bay

NEWS
 
August 5, 2015: MRO reports a huge Three Forks second bench well. This is the first second bench well drilled from this particular pad in Reunion Oil Field. Also, note how MRO designates the second bench in the legal name of the well.

PERMITS

2017 (list is complete as of May 12, 2017)
33550, conf, MRO,
33549, conf, MRO,
33548, conf, MRO,
33431, conf, MRO,
33430, conf, MRO,
33398, conf, WPX,
33397, conf, WPX,
33396, conf, WPX,
33395, conf, WPX,
33394, conf, WPX,
33393, conf, WPX,
33391, conf, MRO,
33390, conf, MRO,
33385, conf, WPX,
33384, conf, WPX,
33383, conf, WPX,
33382, conf, WPX,
33381, conf, WPX,
33347, conf, MRO,
33346, conf, MRO,
33345, conf, MRO,

2016 (list is complete)
32975, conf, MRO,
32974, conf, MRO,
32973, conf, MRO,
32972, conf, MRO,
32971, conf, MRO,
32970, conf, MRO,
32851, conf, MRO,
32850, conf, MRO,
32679, conf, MRO,
32678, conf, MRO,
32673, conf, WPX,
32672, conf, WPX,
32671, conf, WPX,

2015 (the list is complete)
32028, conf, MRO, Ballmeyer USA 41-17TFH,
32027, conf, MRO, Post USA 41-17TFH-2B,
32026, conf, MRO, Hans USA 31-17TFH,
32025, conf, MRO, Becky USA 31-17TFH=2B,
32024, conf, MRO, Ness USA 31-17H,
32015, TASC, MRO, Hal USA 34-34H,
32014, TASC, MRO, Jackie USA 34-34TFH,
32013, TASC, MRO, Tony USA 24-34H,
32012, TASC, MRO, Ranger USA 24-34TFH,
32011, TASC, MRO, McMahone USA 14-34H,
32010, TASC, MRO, Colvin USA 14-34TFH,
31859, conf, WPX, Behr 19-18HUL, 
31849, conf, MRO, Ronald 34-33TFH-2B,
31400, conf, MRO, Ballmeyer USA 41-17TFH,
30828, conf, WPX, Behr 30-31HU,
30827, conf, WPX, Behr 319-18HT,
30826, conf, WPX, Behr 30-31HI,
30825, conf, WPX, Behr 30-31HTL,
30824, conf, WPX, Behr 19-18H1,
30697, conf, MRO, Mikkelsen 11-14H,
30684, conf, MRO, Charlie 24-10H,
30683, conf, MRO, JL Shobe 24-10TFH,
30682, conf, MRO, Bingo 24-10TFH,
30681, conf, MRO, Marjorie 14-10H,
30653, conf, WPX, Helena Ruth Grant 33-34HT,
30516, 1,536, MRO, Hannah USA 31-4TFH, t9/16; cum 197K 3/17;
30515, 2,279, MRO, Maggie USA 21-4H, t9/16; cum 170K 3/17;
30514, 3,020, MRO, Rufus USA 21-4TFH, t9/16; cum 318K 3/17;
30513, 2,830, MRO, Anton 34-33TFH, 2/17; cum 59K after 43 days;
30512, 3,255, MRO, Gaynor 34-33H, t2/17; cum 53K after 32 days;
30511, 2,474, MRO, Goldberg USA 24-33TFH, t2/17; cum 44K after 35 days;

2014
29760, 2,267, MRO, Halvorson 34-34TFH, t8/15; cum 239K 3/17;
29759, 2,456, MRO, Steinhaus 24-34H, t8/15; cum 213K 3/17;
29758, 2,436, MRO, Stevenson 24-34TFH, t8/15; cum 291K 3/17;
29757, 1,324, MRO, Packineau USA 21-3H, t8/15; cum 156K 3/17;
29756, 1,292, MRO, Anna Packineau USA 21-3TFH, t8/15; cum 104K 3/17;
29737, 1,536, WPX, Wells 32-29HY, t10/16; cum 60K 3/17;
29736, 2,375, WPX, Wells 32-29HD, t10/16; cum 167K 3/17;
29735, 2,506, WPX, Wells 32-29HZ, t10/16; cum 134K 3/17;
29596, 1,195, MRO, Palmer 31-25TFH, t3/15; cum 93K 6/16;
29213, conf, MRO, Shirley Doll USA 13-14TFH,
29212, conf, MRO, Dragswolf USA 12-14TFH-2B, Three  Forks Second Bench,
29211, 2,929, MRO, Doll USA 12-14H, ICO, t6/15; cum 366K 3/17;
29210, 2,900, MRO, Tony Lun USA 12-14TFH, ICO, t6/15; cum 235K 6/16;
29209, 2,776, MRO, Ernestine USA 11-14TFH-2B, Three Forks Second Bench, t6/15; cum 309K 3/17;
29208, 2,533, MRO, Lun USA 11-14H, t6/15; cum 198K 3/17;
29172, 2,029, MRO, Berlin 41-25H, t3/15; cum 263K 3/17;
29085, TATD --> 2,557, WPX, Helena Ruth Grant 33-34HC, t11/16; cum 130K 3/17;
29084, TATD --> 1,900, WPX, Helena Ruth Grant 33-34HY, t11/6; cum 72K 3/17;
29083, TATD -->, WPX, Helena Ruth Grant 33-34HX, t11/16; cum 92K 3/17;
29082, 2,397, WPX, Helena Ruth Grant 33-34HA, t11/16; cum 117K 3/17;
29081, 1,830, WPX, Helena Ruth Grant 33-34HW, t12/16; cum 95K 3/17;
28875, 1,138, WPX, Mandaree 30-31HA, t11/14; cum 268K 3/17; (only 9 days in 11/15)
28874, 367, WPX, Mandaree 30-31HW, t1/15; cum 132K 3/17;
28590, 1,258, WPX, Victro Elk 32-29HB, t1/15 cum 260K 3/17;
28589, 1,273, WPX, Victor Elk 32-29HW, t1/15; cum 229K 3/17;
28588, 1,054, WPX, Victor Elk 32-29HA, t1/15; cum 248K 3/17; jump in production, 1/17 after being off-line for a month;
28271, 1,252, MRO, Elwood 41-25TFH, t4/15; cum 110K 3/17; off-line much of the time prior to 22/15;
28270, 1,637, MRO, Zook 41-25TFH, t4/15; cum 106K 3/17; off-line some of the time prior to 11/15;
28269, 1,293, MRO, Moritz 11-30H, t3/15; cum 204K 3/17; off-line some of the time prior to 11/15;
28268, 1,096, MRO, Dickey 11-30TFH, t3/15; cum 118K 3/17; off-line much of the time prior to 11/15;
27555, 1,922, MRO, Keith 44-31TFH, t8/14; cum 206K 3/17;
27366, 2,395, MRO, Grover 11-3TFH, t5/14; cum 199K 3/17;
 
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Reunion Bay

Reunion Bay is a huge and a very, very good oil field in the Bakken. It is about the size of two full townships. It is located entirely within the Fort Berthold Reservation, occupying most of the "peninsula" between the northern arm of Lake Sakakawea to the east and the Missouri River to the west. At that point the Missouri River is taking a big swing, from flowing southwest to flowing to the southeast, almost straight east. Appropriately there is an oil field to the west of Reunion Bay called Big Bend. 

Wednesday, August 5, 2015; MRO Reports A Huge Three Forks 2nd Bench Well In Reunion Bay

MRO reports a huge Three Forks second bench well. This is the first second bench well drilled from this particular pad in Reunion Oil Field. Also, note how MRO designates the second bench in the legal name of the well.

Active rigs:


8/5/201508/05/201408/05/201308/05/201208/05/2011
Active Rigs74193183206183

RBN Energy: update on Cheniere Energy's new export terminal at Corpus Christi.
The site of Cheniere Energy’s new liquefied natural gas (LNG) export terminal in Corpus Christi is only a short drive from the heart of the Eagle Ford. But for supply diversity’s sake, Cheniere won’t depend only on Eagle Ford gas for supply—far from it, in fact. Plans are in the works to enable Corpus Christi LNG’s five planned liquefaction “trains” to access gas from a wide variety of shale plays and basins, in some cases moving gas long-distance. Today, we continue our look at the challenges of securing and moving huge volumes of gas to LNG export terminals, the emerging epicenters of U.S. gas demand.
When Toyota was planning a new manufacturing plant for its Tundra pick-ups in San Antonio a few years ago, it avoided logistical issues by arranging to have more than 20 of its key parts suppliers build factories on the same site. Well, making pick-ups is not like making LNG. As we described in Episode 1 and Episode 2 of our series, Cheniere Energy plans on sourcing a considerable portion of the gas it will need for its six-train Sabine Pass LNG liquefaction/export terminal in Cameron Parish, LA from the Marcellus—a feat made possible by making several big pipelines between the Northeast/Midwest and the Gulf Coast bi-directional, and by enhancing the pipeline network within Louisiana. Cheniere’s thinking, of course, is that to get the best gas prices you need competition, and to ensure competition you need pipeline capacity to move gas to Sabine Pass from a wide range of sources.
The same holds true for Cheniere’s Corpus Christi LNG, which ultimately could have as many as five liquefaction trains—each with the capacity to produce 4.5 million tons per annum (MTPA -needing about 650 MMcf/d of natural gas)—by the early 2020s. The first two trains at Corpus are under construction and are expected online in late 2018/early 2019; Cheniere expects to make a final investment decision (FID) on Train 3 later this year, and recently announced plans for two more trains at the same site.  Corpus Christi and Sabine Pass are different in at least two ways (and we’re not counting the fact that Corpus has better tacos and Cameron Parish has better po’ boys). First, Sabine Pass is an existing LNG import terminal, which means it already has the docking facilities and (just as important) several pipelines that connect the terminal to major gas transmission lines. Corpus, meanwhile, is a “greenfield” project, and it needs both new docking facilities and a link to the regional pipeline network. The second difference between the two LNG projects is that Corpus has direct access to Eagle Ford gas.