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Friday, February 24, 2017

Finally, It's Official -- It Was A Typographical Error -- NDIC Reported An IP Of 5,224 For An EOG Well; EOG Reported The IP To Be 524 -- February 24, 2016

I should have caught the typo. An alert reader caught the typo and I posted that note. Here's one of the original posts (IP in error). This is where I first corrected it (a huge "thank you" to a reader for calling me on this one) -- I should have caught it -- but I wear oily-smeared glasses.

It took awhile, but the EOG sundry forms finally showed up and, yes, it was a typo. Here's a screenshot of the NDIC scout ticket for this well. Note, it shows the IP for this well to be 5,224.


Now, note the screenshot of EOG's sundry form:


at No comments:

A Conundrum In The Bakken -- A Jump In Production In An Abraxas Lillibridge Well In The Pershing Oil Field -- February 24, 2017

First the graphic:



Hopefully, I didn't make any major mistakes on this post. If I did, I will delete the whole post.

First, to get this out of the way, this is the same (almost the same) graphic used in an earlier post to show where Abraxas proposes to place up to sixteen more horizontal wells (March, 2017, NDIC hearing dockets).

Okay, now we move on. In the graphic above, note the Lillibridge wells, inside the oval, lower left. It was just the other day we posted that production data for these wells:

Abraxas Wells:
  • 23622 Lillibridge 20-17-1H; t7/13; cum 359,886 bo; 642,473 MCF; most recent month (24 days), 12/16: 3,650 bo; 7,607 MCF gas
  • 23623 Lillibridge 20-17-2H: t7/13; cum 199,648 bo; 339,576 MCF;  most recent month (31 days): 12/16: 2,120 bo; 3,705 MCF gas
  • 23624 Lillibridge 20-17-3H t7/13; cum 248,883 bo; 422,610 MCF; most recent month (31 days): 12/16: 2,263 bo; 3,221 MCF gas
  • 23625 Lillibridge 20-17-4H t8/13; cum 135,732 bo; 261,736 MCF; most recent month (31 days): 12/16: 1,605 bo; 3,271 MCF gas
  • 25606 Lillibridge 20-17-5H t11/13; cum 248,037 bo; 432,294 MCF; most recent month (31 days): 12/16: 2,802 bo; 5,646 MCF gas
  • 25607 Lillibridge 20-17-6H t11/13; cum 201,709 bo; 317,279 MCF; most recent month (31 days): 12/16: 2,354 bo; 6,581 MCF gas
  • 25608 Lillibridge 20-17-7H t11/13; cum 216,682 bo; 340,484 MCF; most recent month (31 days): 12/16: 2,231 bo; 3,916 MCF gas
  • 25609 Lillibridge 20-17-8H t12/13; cum 211,188 bo; 292,739 MCF; most recent month (17 days): 12/16: 4,240 bo; 5,512 MCF gas
A look at the production profiles of those eight Lillibridge wells did not reveal anything particularly remarkable except for #23622:
  • 23622 Lillibridge 20-17-1H; t7/13; cum 359,886 bo; 642,473 MCF; most recent month (24 days), 12/16: 3,650 bo; 7,607 MCF gas; API: 33-053-04336; this well was fracked once; note the jump in production two years after the initial frack. All eight Lillibridge wells were drilled/completed about the same time. This well was taken off-line for less than a month prior to this jump in production. The jump in production is not subtle.
From FracFocus:

The production profile for #23622:
Monthly Production Data:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN1-20173145644579124714651145828
BAKKEN12-201624365034791166760775600
BAKKEN11-201625329734781014924891990
BAKKEN10-20163143494229134511342112810
BAKKEN9-20163043674517126610198101390
BAKKEN8-20163147384743140010122100610
BAKKEN7-201631508349731461986798060
BAKKEN6-201630491250121426897189120
BAKKEN5-2016245869590122031075110350356
BAKKEN4-2016301086811053381120199183491791
BAKKEN3-201631123161230644842260422358185
BAKKEN2-2016291250712507465621969206391273
BAKKEN1-2016311487214812579225049203854603
BAKKEN12-2015311829118361981528962999318908
Production Jump11-20152818385185951129227649182729322
BAKKEN10-2015157482698862211193663335574
BAKKEN9-2015192315245532830622532493
BAKKEN8-20152730953000523366613572256
BAKKEN7-20152632813226394388026011188
BAKKEN6-20152325712832341275210611646
BAKKEN5-2015313824363852753344869404
BAKKEN4-2015182756282161069846707242
BAKKEN3-2015317776770116631289238388993
BAKKEN2-2015288396844115751293795453337
BAKKEN1-20153145554580577653542662208
BAKKEN12-20143145984583584671148571793
BAKKEN11-20143043454330545625144411751
BAKKEN10-20143143734303422658543062218
BAKKEN9-20143041284504310632347941470
BAKKEN8-20143143024212296642349381424
BAKKEN7-20143143534097346667137502861
BAKKEN6-20142431673272211497826422289
BAKKEN5-20143170956995183928751248426206
BAKKEN4-201430977398981440309241865712208
BAKKEN3-201426809078821051096383942518
BAKKEN2-20142890999157121622757199172785
BAKKEN1-201429118911194616922662226050
BAKKEN12-201331137821381613223735236740
BAKKEN11-201326159801585397930725306740
BAKKEN10-2013312276023304432139682396210
BAKKEN9-2013241702416488422624351243040
BAKKEN8-2013313030830874573147438473770
Initial Frack7-2013171526314343671422027219940

********************************
In the graphic below, there is a horizontal well running from the south to the north long the eastern section line -- it is "buried"under the dark red line that demarcates the eastern section line of that drilling unit; the horizontal, #29805, parallels the Lillibridge wells for their entire length.

That well is #29805:
  • 29805, 802, BR, Morgan 14-21TFH ULW, Pershing, 36 stages, 3.9 million lbs, t11/15; cum 54K 12/16; API: 33-053-06409; last well was fracked once:
The monthly production profile for #29805:

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-20163139333907146710300102080
BAKKEN11-20163042854282205813204131180
BAKKEN10-20163146154612221413320132310
BAKKEN9-20163049114913214013586135000
BAKKEN8-20163157795780229713907138190
BAKKEN7-20163170487074318712278121890
BAKKEN6-20162983348275281417327173130
BAKKEN5-20167294229201305580057970
BAKKEN4-20160000000
BAKKEN3-20160000000
BAKKEN2-201600360000
BAKKEN1-2016165954618228291337913200172
BAKKEN12-201512874261160012241098125
BAKKEN11-201519351435146802522305203

Lots of things to think about.

Again, hopefully, I didn't make a big mistake, like looking at the wrong drilling unit or something just as bad, but if this is all accurate, lots of things to think about. But too late for me to think about anything. See you later this weekend.  
at No comments:

March, 2017, NDIC Dockets Have Been Posted

The Bakken never ceases to amaze me. There is a lot packed into this page. In fact, there's even a surprise, but that story is a) too long to fit on this page; and, b) too good a story to be buried here -- it needs its own stand-alone post. I will post that story later.

The full March, 2017, NDIC dockets are posted here.

**************************************** 
Comments and Disclaimer

To the best of my knowledge this was the first ad-free, password-free blog that told mineral owners that if they had one well in the Bakken, they would eventually have four wells, probably 8 wells, and possibly many more than that before this was all over. That was posted back in 2009.

Now why would I bring that up? Take a look at case #25695 below -- Abraxas, 16 wells on an existing 1280-acre unit: sections 17/20-150-96. There are already nine (9) horizontal wells in those two sections (if one includes the section line well) plus an old vertical well. Someone might have 26 producing wells in this area. Graphic at the bottom of this post.

Disclaimer: as usual this is done very quickly and using shorthand for my benefit. There will be factual and typographical errors on this page. Do not quote me on any of this. It's for my personal use to help me better understand the Bakken. Do not read it. If you do happen to read it, do not make any investment, financial, job, relationship, or travel plans based on anything you read here or think you may have read here. If this stuff is important to you, and I doubt that it is, but if it is, go to the source.

 ******************************************
The March, 2017, NDIC Hearing Dockets
Highlights



Thursday, March 23, 2017
Supplement, one case

25708, DW Slate LLC, Eagle Nest-Bakken, establish a 320-acre unit; 2 wells; establish a 1600-acre overlapping unit; 2 wells; Dunn County

Thursday, March 23, 2017
Seven pages -- highlights

25678, WPX, Squaw Creek-Bakken, 10 wells on an overlapping 1920-acre unit; McKenzie County
25679, Sedalia Energy, Pratt-Madison and the Pratt-Madison Pool, multiple horizontals, McHenry County
25680, Sedalia Energy, Pratt-Madison and the Pratt-Madison Pool, multiple laterals, McHenry County
25693, Liberty Resources, Northwest-McGregor-Bakken, eight wells on an existing 1280-acre unit, Williams County
25694, Liberty Resources, Big Meadow-Bakken, eight wells on an existing 1280-acre unit, Williams County
25695, Abraxas, Pershing-Bakken, sixteen wells on an existing 1280-acre unit; McKenzie County

Wednesday, March 22, 2017
Seven pages -- highlights

25659, Whiting, Madison formation; establish six standup 640-acre drilling units; one horizontal well in the Madison formation in each drilling unit; Williams County
25661, BR, Jim Creek-Bakken, establish two 2560-acre units; 14 wells on each  unit; establish three 4-section units with one well on each; Dunn;
25664, Kraken Oil & Gas, Hebron-Bakken, 5 wells on each of three 960-acre units; and, 14 wells on a 960 acre unit, sections 34/35-155-104, Williams County
25665, Kraken Oil & Gas, Hebron-Bakken, 14 wells on each of two 1280-acre units; Williams County
25666, Kraken Oil & Gas, Squires-Bakken, 14 wells on each of four 1280-acre units; Williams County
25671, Petro-Hunt, Charlson-Bakken, four wells on a laydown 640-acre unit; six wells on an overlapping 1280-acre unit; McKenzie County
Thursday, March 2, 2017 -- previously posted

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

at No comments:

Week 8: February 19, 2017 -- February 25, 2017

I guess it was another quiet week. WTI trended higher, settling at just above $54 on Friday. Dennis Gartman (CNBC contributor) who said oil would never see $55 again, turned bullish this week, suggesting one could see another $6 - $8 on the upside vs only $2 to $3 on the downside.

The OPEC cuts were holding.There are more and more stories suggesting Saudi Arabi's Aramco vision may be turning into a nightmare. Deep in the weeds, Norway's Troll field will be added to the Brent basket of oils as other fields deplete.

The Canadian oil sands (and the two US majors involved: COP and XOM) are in a world of hurt; the oil sands will essentially shut down except for projects already underway. And then folks tell us the Bakken had no impact on international oil. Eyes wide shut.

From a recent low of 36 just a week or so ago, the number of active rigs jumped to 44 earlier this week, but settled back down to 41 by the end of the week.

I suppose the environmental-disaster story of the week was the DAPL protest campgrounds. If interested, google it. With regard to DAPL protesters, my fun-meter is pegged out, as we used to say. ETP says DAPL oil could start flowing March 6, 2017, about two months earlier than expected.

Twice this week, the NDIC daily activity report was posted a day late.

The Dow recorded eleven consecutive days of new highs. I believe the modern-day record is a string of 13 record-setting days.

A must-read post on LNG:
import demand, global, future

Operations
Petro-Hunt getting active
High-intensity fracked EOG Austin well
Seven Rolfson N wells reported
Whiting update over at SeekingAlpha
Without question, Whiting is becoming the most active in Bakken 2.0
CLR reports two huge Bakken wells (Charolais, Brangus) 

Post-shut-in-production jump
19548, BR, Gudmunson, Elidah oil field
16875, MRO, Trotter, Bailey oil field
19889, XTO, Sand Creek
21716, Petro-Hunt, Van Hise Trust, Charlson oil field 
17309, BR, Washburn, Charlson oil field
20336, BR, Sun Notch 43-32H-R, Sand Creek, re-enter, deeper lateral
17400, Petro-Hunt, Sherven Trust, Charlson (re-frack)
22621, Whiting, Chameleon State, Banks oil field
19859, Whiting, Chameleon State, Banks oil field (same link) 

Bakken 2.0
EURs
Twenty-six permits renewed; Petro-Hunt / EOX / VOG 

Fracking
Sand volume 
Frack sand pricing

Pipeline
Update on DAPL 
DAPL: the seven stages of grief 

Refinery
Update on Davis refinery outside Belfield, North Dakota 

Bakken economy
More roundabouts for Williston 
at No comments:

As Of 6:11 PM Central Time, NDIC's Daily Activity Report Had Not Been Posted -- February 24, 2017

Birthday: Steve Jobs would have been 62 years old today; born February 24, 1955. 

Active rigs:


2/24/201702/24/201602/24/201502/24/201402/24/2013
Active Rigs4039124189181

Two new permits:
  • Operator: Whiting
  • Field: East Fork (Williams County)
  • Comments:
at No comments:

Bakken 2.0: Taking Bakken Wells Off-Line For Two Months Can Result In Record Production -- February 24, 2017

For background to this post, please see these two earlier posts:
When you visit those posts, take a look at the production profiles and the graphics.

For those who don't have time to check out older posts, note the production profile for this well since March, 2016 (it was originally fracked in late, 2011):
  • 19548, 508, BR, Gudmunson 1-26H, Elidah oil field, t10/11; cum 175K 12/16;
Monthly Production Data

PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN12-2016251231012164122821290077415159
BAKKEN11-20161688198931193941019462293965
BAKKEN10-201651114743382542540
BAKKEN9-20163013541152498321832180
BAKKEN8-20163112201138695289528950
BAKKEN7-20163113861360535331033100
BAKKEN6-201628102611424582293227815
BAKKEN5-20163111981335517284028400
BAKKEN4-2016301172915484281128110
BAKKEN3-20163112921356525184518450

This well is now five or six years old. We should not be seeing this kind of production after five years of production: the "dreaded Bakken decline.'

In November, 2016, the 16 days of production extrapolates out to an incredible 16,535 bbls of oil for a 30-day month without being fracked or re-fracked. For December, note only 25 days which extrapolates out to 15,264 bo for the full 31-day month. And this does not include the natural gas.

The data for January, 2017, is not yet posted by the NDIC, but according to a reader, this well flowed at 18,769 bo for the month of January, 2017 (see below). We will confirm later that this was BO and not BOE.

At 1,000 bbls of oil/month prior to being shut in, this well produced more than 12,000 bbls in the first (almost) full month after coming back on-line -- in other words, more than the entire preceding year produced in one month.  

This production jump came after the well was taken off line for less than two months and so much pressure built up in that time period, we had record-setting production for this well.

Amazing.

A reader with interests in this well wrote:
This is unbelievable……the oil companies should shut every well in for a month and then watch the production skyrocket.

Yes, I am referring back to the Gudmunson wells in McKenzie County.  The one I am most interested in now is the Gudmunson 1-26H file, #19548.

We just received our pay stub for this well for the month of January and the well flowed 18,769 barrels of oil.

The well started producing in September of 2011 and this is the highest monthly amount flowed ever.

And all of this happened after four other wells were fracked in that area.  In fact, the amount produced this month is more than the well produced for the whole year prior to being taken off line for the fracking of the other Gudmunson wells in that area.

Amazing what a month off line will do……
I wrote back to the reader. I will post my reply at a later date, but don't want to take away from the reader's note. 

And so it goes. Bakken 2.0.

*************************************
Four Strong Winds

I got some nice feedback from an earlier video of Judy Collins/Someday Soon. 

For a follow-up, I prefer the studio version of this song but the visuals for this performance (video below) are incredible.

For the last verse, they bring on Judy Collins, Emmylou Harris, Gordon Lightfoot, and, Murray McLauchlan. Perhaps I'm reading too much into this, but watching her eyes very, very closely (especially at 2:25 and following) suggests that Sylvia still has very strong feelings for Ian. Ian has moved on. Emotionally.


Four Strong Winds, Ian and Sylvia
at No comments:

I Must Be Doing The Math Wrong -- Fracking Sand Volume -- February 24, 2017

Disclaimer: I did this while multi-tasking other tasks so there may be huge mistakes on this page. Do not make any financial, investment, job, travel, or relationship decisions based on what you read here or think you may have read here. If this is important to you, go to the source.

Updates

Later, 11:57 a.m. Central Time: see comments below. Maybe it's pounds of proppant per foot per stage, but even so, not sure. Doesn't matter in big scheme of things. Just idle chatter. Bottom line: CLR thinks the law of diminishing returns applies to how much sand one uses when fracking. Fifteen pounds/foot may get as good a financial return as three thousand pounds/foot.
 
Original Post
 
Back-of-the-envelope:
  • Bakken horizontals are about 10,000 feet long
  • 1 million lbs of sand = 1,000,000 / 10,000 = 100 lbs / foot
  • 10 million lbs of sand = 10,000,000 / 10,000 = 1,000 lbs / foot
  • 30 million lbs of sand = 30,000,000 / 10,000 = 3,000 lbs / foot
Is that correct?

Note this article at Investor's Business Daily:
Continental Resources (CLR) plans to use less sand than other exploration and production companies do, as demand for materials used in fracking takes off and potentially adds to cost pressures for shale companies.

Glen Brown, Continental's vice president of exploration, said during a conference call Thursday that the bellwether shale company is using 1,000-2,000 pounds of fracking sand per foot as it tests enhanced completion techniques in the Bakken formation.

He noted that Continental's optimum range is closer to 1,000-1,500 pounds in the company's part of the shale play, while other operators in the area are using more than 3,000 pounds.
I must have done the math "wrong."

Over at "high intensity fracks" -- these are the exceptions -- run through the list, see how many are using more than 10 million lbs/frack. I'm not seeing it (yet). So either I must have done the math wrong (which is probably the case) or I mis-read the linked article above.
  • 31670, 2,063, CLR, Rath Federal 5-22H, Sanish, 62 stages, 14 million lbs, t8/16; cum 120K 12/16; 
  • 30505, 1,052, Hess, BB-Eide-151-95-3328H-4, Blue Buttes, 50 stages, 3.5 million lbs, t1/17; cum 14K over 10 days;
  • 30506, 893, Hess, BB-Eide-151-95-3328H-5, Three Forks, 50 stages, 3.5 million lbs, Blue Buttes, t1/17; cum 7K over 5 days;  
  • 30504, 1,136, Hess, BB-Eide-151-95-3328H-3, Blue Buttes, Three Forks, 50 stages, 3.5 million lbs, t12/16; cum 23K over 16 days;  
  • 27595, 920, Petro-Hunt, Marinenko 145-97-31D-30-1H, Little Knife, 50 stages; 4.9 million lbs, t11/16; cum 16K 12/16;
  • 31515, 150, CLR, Topeak 9-12H1, Brooklyn, 30 stages; 8.9 million lbs, t8/16; cum 23K 12/16; 
  • the BR Gudmunson wells in Elidah oil field; also note the number of stages from one well to another;
  • 31686, 1,957, Whiting, P Bibler 154-99-3-5-8-14H, Stockyard Creek, 40 stages, 10.6 million lbs, Whiting's P Bibler wells are tracked here, t8/16; cum 99K 11/16;   
  • 31892, 1,717, Hess, BB-Sivertson-151-95-2019H-6, Blue Buttes, 53 stages, 3.7 million lbs, t11/16; cum --
  • 31893, 1,523, Hess, BB-Siverston-151-95-2019H-7, Blue Buttes, 53 stages, 3.7 million lbs, t12/16; cum --
  • 29693, 2,471, Whiting, P Bibler 155-99-16-31-30-1H, Epping, 39 stages, 10 million lbs, t7/16; cum 131K 10/16;
  • 31891, 1,506, Hess, BB-Siverston-LS-151-95-2019H-1, Blue Buttes, 53 stages, 3.7 million lbs, t12/16; cum --
  • 31280, 1,612, Hess, EN-VP and R-154-94-2536H-5, Alkali Creek, Three Forks, 53 stages, 3.7 million lbs, t10/16; cum 14K after 8 days; 
  • 31281, 746, Hess, EN-VP and R-154-94-2536H-6, Alkali Creek, middle Bakken, 57 stages, 4 million lbs, t11/16; cum 3K after 3 days; 
  • 31919, 1,413, Oasis, Johnsrud Federal 5198 11-18 3BX, North Tobacco Garden, 4 sections, 50 stages, 20 million lbs, t6/16; cum 126K 10/16;
  •  32340, 2,010, Whiting, Carscallen31-14-4H, Truax, 45 stages, 13.6 million lbs, t7/16; cum 140K 10/16;
  •  32417, 257, EOG, Austin 421-2821H,  Parshall, 44 stages; 17 million lbs, t6/16; cum 125K 10/16; 32418, 681, EOG, Austin 422-2821H, Parshall, 42 stages, 16 million lbs, t6/16; cum 151K 10/16; 
  • 32419, 678, EOG, Austin 423-2821H, Parshall, 32 stages, 12 million lbs; t6/16; cum 115K 10/16; 
  • 24072, 342, Crescent Point, CPEUSC Holmes 8-5-158N-100W, Winner, TD = 19,842 feet, 70 stages, 8.5 million lbs, t3/15; cum 89K 9/16; [a pretty good considering its location]
  • 31247, 1,613, EOG, West Clark 103-0136H, Clarks Creek, 37 stages, 21.1 million lbs, s12/10/15; TD, 12/20/15; TVD, 10,552 feet; TD, 17,965 feet; again, only a 1.5 section lateral; 960-acre spacing; middle Bakken;  
  • 31403, 1,447, EOG, West Clark 117-0136H, Clarks Creek, middle Bakken, 36 stages, 27.65 million lbs, t5/16; cum 132K 9/16;
  •  31248, 1,272, EOG, West Clark 104-0136H, Clarks Creek, middle Bakken, 36 stages, 21 million lbs, t5/16; cum 86K 9/16; drilling unit: 960 acres; TVD around 10,600 feet; TD, 18,185 feet; total lateral, 7,338 feet; target total, 7,338 feet (100%); KOP December 4, 2015; cease drilling December 8, 2015; from surface, well was sited in southwest corner of section 1-151-95; proceeded northeast and then northnortheast under section 1-151-95, ending just short of the halfway mark in section 36-151-95W (according to diagram on page 29 -- but it obviously ended in section 36-152-95).
  • 31057, 3,490, MRO, Chamaine USA 14-35TFH, Antelope, Sanish, 45 stages, 12 million lbs, t6/16; cum 131K 8/16 after just three months;
  • 31058, 3,661, MRO, Clarks Creek USA 14-35H, Antelope, Sanish, 45 stages, 18 million lbs, t5/16; cum 143K 8/16; after just 3.5 months;
  • 31061, 2,942, MRO, Juanita USA 13-35H, Antelope, Sanish, 40 stages, 12 million lbs, t7/16; cum 115K after just 2.5 months;
  • 29443, 1,442, WPX, Olive Mae 7-8-9HW, Van Hook, 68 stages, 15 million lbs, t10/15; cum 81K 1/16; 
  • 27414, 2,712, HRC, Fort Berthold 148-95-25B-36-6H, Eagle Nest, 56 stages, 6.7 million lbs/ t4/16; cum 22K after 15 days; distance between closest fracture initiation point and abandoned "5H" is 654 feet; 
  • 31119, 2,149, Oasis, Lefty 5200 12-30 7B, Camp, 50 stages, 4.2 million lbs, t4/16; cum 100K 8/16;
  •  27412, 3,745, HRC, Fort Berthold 148-95-25B-36-7H, Eagle Nest, 56 stages; 6.7 million lbs, t4/16; cum 35K after 16 days;
  • 31313, 2,204, Hess, AN-Brenna-153-94-3130H-2, Antelope, Sanish, t9/16; cum -- 
  • 31120, 907, Oasis, Left 5200 12-30 8T, Camp. 50 stages, 8.9 million lbs, t4/16; cum 36K 8/16; 
  • 31188, 3,752, HRC, Fort Berthold 148-95-25B-36-8H, Eagle Nest, 56 stages, 6.7 million lbs, t4/16; cum 38K 8/16; no production since the first 18 days; last produced 5/16; 
  • 28330, 1,716, CLR, Salers Federal 3-27H, 50 stages; 19 million lbs; 14 days spud to TD, t10/14; cum 383K 8/16;
  • 31121, 1,374, Oasis, Hysted 5200 12-30 10B, Camp, 36 stages, 20 million lbs, t4/16; cum 67K 8/16; 
  • 30286, 1,974, EOG, Riverview 102-32H, 23 stages, 13 million lbs, t6/15; cum 419K 8/16; 320-acre spacing; short lateral  
  • 31060, 3,473, MRO, Heather USA 13-35TFH, 44 stages, 12 million lbs, t5/16; cum 123K 8/16;
  • 31061, 2,942, MRO, Juanita USA 13-35H, 40 stages, 12 million lbs, t7/16; cum 115K 8/16; 
at No comments:

The Political Page, T+35 -- February 24, 2017

From an earlier post, but worth repeating:
This is the opening paragraph of Elizabeth Drew's essay in the current issue of TNYRoB:
When the most unpopular and least prepared president-elect in modern history took the oath of office on January 20, most of Washington, like most of the country, an the world, had little idea of the turbulence and disruption that he intended to bring to the job. Nonetheless those who'd watched him closely over the past year and a half were aware that he was manifestly unfit for a job that's beyond the capacities of most people.
Read that again, slowly, parsing each phrase. 

The following is how I parsed that opening paragraph with my thoughts in bold red. 
When the most unpopular and least prepared president-elect in modern history: the most unpopular and least prepared individual soundly defeated Hillary Clinton.
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Have You Ever Seen The Rain, Rod Stewart

From The Los Angeles Times: Shasta Dam makes history -- water flows from top gates first time in 20 years.
  • reservoir at 135% of its historical average for this time of year
  • at 93% of its capacity
  • releasing billions of gallons of water to make room for incoming flows the spring melt and recent rains
  • flowing at rate of up to 70,000 cubic feet per second -- per second
  • Shasta Dam: linchpin of California's federal water project
  • Oroville Dam: linchpin of California's state water project
  • the last release from Shasta Dam was during the state's last huge rainy season, 1997 - 1998
  • Lake Shasta has risen 3 feet in just the last three days
  • the snowpack in Sierra Nevade is at levels never seen before 
From Carpe Diem, February 24, 2017: and they said raising the minimum wage to $15/hour would have no/minimum impact on prices:



Wow, look at the price of a frappuccino at Starbucks. This is why I get the "senior" coffee at McDonald's (50 cents; yes, 50 cents). And a chicken sandwich at Chik-Fil-A is as much as an entree at a sit-down restaurant (at $8.21). Wow.
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Active Rigs Hold Above 40 -- February 24, 2017

Active rigs:


2/24/201702/24/201602/24/201502/24/201402/24/2013
Active Rigs4139124189181

RBN Energy: Part 2 -- will US natural gas avoid a collapse this year?

Scott Adams: a list of his non-Dilbert books.
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DAPL Builder Apologizes To Court -- Will Complete Sooner Than Expected -- The Market And Energy Page, T+35 -- February 24, 2016

Dickinson Press link:
Even as the $3.8 billion pipeline from North Dakota's Bakken oil fields to Illinois nears completion, the pipeline's future is in question in federal court. The tribes' attorney, Jan Hasselman, said he was surprised by the early oil-flow date, since the company told the court its best-case scenario was further out, into May.
My hunch: once complete -- in about ten days -- the court will shut it down. Things are simply moving too fast. The court needs more time to research the argument that the Native Americans control all waterways in North America.

At Reuters: Energy Transfer says DAPL 99% complete. But, as noted, the future is in the hands of a judge. And when this all started, we thought Iowa was going to be the challenge.

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Saudi Arabia's $2 Trillion Aramco Vision In Doubt

 From Bloomberg:
Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple twice, and still have room for Google parent Alphabet Inc. The kingdom may have to settle for less. A lot less.
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Peak Oil? What Peak Oil?

From Rigzone: future giant discoveries could be lurking offshore South Africa.
  • Outeniqua Basin
  • previous finds: up to 314 million recoverable boe 
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Market

The close! Wow, 11 points up at the close. I am amazed. The eleventh consecutive record-setting day. 

Closing: this is going to be so close! Nine minutes before closing down only 3 points. 

Opening / Early Afternoon: the Dow was down about 50 - 60 points all morning. President Trump spoke at CPAC; didn't affect the market. Yesterday was the 10th consecutive day of record-setting Dow. I believe the record in modern history is 13 consecutive days of closing in the green. 
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