Sunday, September 13, 2015

Four DUCs Reported Monday In North Dakota; Hess Reports Two Completed Wells In The Bakken; September 13, 2015

Active rigs:

Active Rigs69199180192200

Wells coming off the confidential list this weekend, Monday:

Monday, September 14, 2015:
  • 29579, SI/NC, XTO, Satter 31X-1CXD, Sivertson, no production data;
  • 30097, 1,702, Hess, BB-Ole Anderson-151-95-3130H-4, Blue Buttes, t8/15; cum --
  • 30698, SI/NC, Statoil, Hospital 31-36 7H, Alger, no production data;
Sunday, September 13, 2015:
  • 29990, SI/NC, Abraxas, Stenehjem 5H, North Fork, no production data;
  • 30451, 791, Hess, EN-D Cvancara S-154-93-0904H-11, Robinson Lake, t8/15; cum --
Saturday, September 12, 2015:
  • 29578, SI/NC, XTO, Satter 31X-1G2, Sivertson, no production data;

I thought the California initiative to cut gasoline usage by 50% in that state within 15 years was a stunt. How wrong I was. I don't think I, or most Californians, understand how close this initiative came to pass. See the Los Angeles Times story here.

My hunch is that however this proposal began, it gained momentum when Jerry Brown et al saw how easy it was to cut water consumption in their state by 30%.

Something tells me this bill will be re-packaged, new alliances formed, and the bill will re-surface next year.

The unintended consequences, of course, would be severe. Already state revenue from gasoline taxes is not keeping up with required road maintenance, much less new roads that are needed. Cut gasoline usage by 50% and tax revenue will be cut proportionately but highway maintenance will still be required (new roads may not be required). The tax revenue lost would, of course, be made up with new "fees" for all registered vehicles.

Week 36: September 6, 2015 -- September 12, 2015

Same ol', same ol', I guess. This is the lull before the next bit of bad news and I expect some more bad news to come out of the Williston Basin (with regard to the price of oil). Having said that, this is a must-read article, Shale 2.0.

Active rigs one away from tying record post-boom low
Whiting's Flatland wells have been hooked up to the ONEOK pipeline system

Bakken economy
$400 million urea fertilizer plant in the works for Beulah, ND 

Impressions, the Bakken, #1
Impressions, the Bakken, #2
Impressions, the Bakken, #3