The top story this week, without question, is the "rebound" in North Dakota crude oil production. Actually, it wasn't much of a rebound, but at least for the moment, the downward trend in production was halted. But what was remarkable was this happened when very, very few wells were being drilled, and it seemed, even fewer wells were being completed. In fact, the number of DUCs actually increased.
I don't think analysts really appreciate what it means to have the number of DUCs actually increase when fewer wells are being drilled in the first place.
Nationally, this has to rank among the top stories: operators paying upwards of $50,000 (and more) / mineral acre in the Permian. In addition, several stories coming out about the potential of the lower Tertiary, a geologic "formation" not thought to be productive.
Perhaps the other often overlooked national story is the fact that gasoline demand still breaks all previous records. It was also noted this past week that US crude oil imports remain higher than "usual."
Note: there is a lot of news coming out of the keystoned Dakota Access Pipeline -- the situation has entered legal purgatory and the entire situation is completely chaotic, irrational, and politicized. For now, the project is dead. And the project will remain dead as long as it is agreed that the Native Americans "own" riparian rights to all waterways in America, three miles on either side of any rio, brook, creek, stream, river, pond, or lake.
Operations
Director's cut here, here, July, 2016, data
July, 2016, production spreadsheets
Petroshale to site eleven wells in one section; that section has an old vertical Sanish well that produced in excess of one million bbls of oil over a 30-year period
Update on Zavanna's Gust well in Long Creek
Update on Whiting's Behr well that Mike Filloon highlighted back in 2013; now over 1 million bbls total and still going strong
An example of the manufacturing stage in the Bakken
Fracking
The halo effect, another possible example
Bakken economy
New Williston airport to break ground in ceremony, October 10, 2016; another $26 million from FAA
Miscellaneous
NY Times had a nice feature article on North Dakota Maah Daah Hey Trail
Update on Mark Papa; active in the Permian
China has a peak oil problem
Operating costs: the Bakken vs Saudi Arabia
Saudi bidding for another refinery along the US Gulf Coast
No comments:
Post a Comment