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Friday, April 14, 2017

It Looks Like CLR Is Fracking / Preparing To Frack Its Anna Wells In Last Chance Oil Field -- April 14, 2017

This is pretty cool. Back on February 15, 2017, I suggested that CLR was getting ready to frack its Anna wells in Last Chance oil field. Now that the February data has been posted (most recent Director's Cut) we see that a producing well near these Anna DUCs has been taken off-line. This means only one thing: CLR is getting ready to frack or has already fracked its Anna wells in Last Chance oil field.

Five Largest Crude Oil Storage Fields In The US -- Random Look -- April 14, 2017

Updates

April 23, 2017: when you look at the graphs below -- production vs stored crude oil, remember this from an earlier post:
The world is drowning in oil: Reuters data shows that the volume of crude oil plying the world’s oceans hit a record high 47.8 million barrels per day in April, a 5.8 percent jump compared to December levels. That is a worrying sign given that December was the month before OPEC began reducing, so if global crude oil shipments are above even those elevated levels, then supply is probably higher right now than many believe.
Original Post 

From New Orleans Times-Picayune, the five largest crude oil fields in the US, from an article posted back in March, 2015 (does not include the SPR):
  • Cushing, OK: 82 million bbls
  • Louisiana Offshore Oil Port: 67 million bbls
  • Houston, TX: 36 million bbls
  • Beaumont-Nederland, TX: 30 million bbls
  • St James, Louisiana: 30 million bbls
However, Houston Public Media says the amount of crude oil stored in and around Houston is about 66 million bbls; and, could expand to 100 million bbls in a few years.

It would be nice if RBN Energy would provide an update. I assume EIA has the data somewhere.

To the above add another 10 million bbls of storage in Houston. From Houston Biz Journals, another 10 million bbls will be added by the end of this year or thereabouts. Data points:
  • Fairway Energy Partners LLC
  • first phase of its Pierce Junction crude oil storage facility has opened
  • it is the only independent salt dome crude oil storage terminal int he Houston area
  • project first announced in 2015 (amazing how fast when there is a favorable regulatory environment)
  • three underground salt caverns; currently holds about 1 million bbls of crude oil
  • so far about 7.5 million bbls of storage facility is available
  • direct connection to the Permian and the Eagle Ford plays
If the 66 million bbls for Houston was accurate, adding another 10 million puts Houston near 80 million and one can assume other storage facilities have been added that are not mentioned above.

The exact numbers aren't important. I just needed some ball-park figures to put the new data in perspective.

On another note, look at the surge in US crude oil storage in the last couple of years (previously posted). One can only wonder what this all means and where this is all headed:


The other interesting data point, of course, is "the EIA's weekly US days of crude oil supply data" (link here). At 34 days, the US is clearly setting new records.

Production In Top Bakken Oil Fields, February, 2017, Data -- Greatest Decline In Field Production Month-Over-Month

Disclaimer: in a spreadsheet done manually there are likely to be typographical and factual errors. If this information is important to you, go to the source. Do not quote me on this data. 

January, 2017, and February, 2017, data for top producing oil fields in the Bakken. Ranked by greatest decline in field production, month-over-month, column 9. In only two cases was there a decrease in the number of wells in any particular field, and in those cases, only declined by one well. The Parshall field actually saw an increase of three wells and still showed a significant decline in production.

Field
Jan 2017 Prod
Jan Wells
Jan Oil / Well / Month
Percent Change Dec-to-Jan
Feb 2017 Prod
Feb Wells
Feb Oil / Well / Month
Percent Change Jan-to-Feb
Change in # of wells
Willow Creek
52,584
27
1,948
-5.66%
35,281
27
1,307
-32.91%
0
Elm Tree
223,777
44
5,086
61.33%
157,501
44
3,580
-29.62%
0
Tyrone
137,822
59
2,336
-3.61%
105,490
59
1,788
-23.46%
0
North Tobacco Garden
267,748
48
5,578
56.59%
211,614
48
4,409
-20.97%
0
West Capa
64,052
38
1,686
13.72%
51,183
38
1,347
-20.09%
0
Timber Creek
48,857
32
1,527
12.11%
39,573
32
1,237
-19.00%
0
East Fork
452,386
119
3,802
21.42%
369,965
119
3,109
-18.22%
0
Van Hook
619,968
190
3,263
17.39%
510,250
189
2,700
-17.70%
-1
Pershing
108,169
39
2,774
-4.54%
89,580
39
2,297
-17.19%
0
West Ambrose
221,340
90
2,459
-5.34%
183,957
90
2,044
-16.89%
0
Twin Buttes
61,331
23
2,667

51,038
23
2,219
-16.78%
0
Cow Creek
86,960
40
2,174
1.71%
72,996
40
1,825
-16.06%
0
Hawkeye
307,664
107
2,875
6.30%
259,979
107
2,430
-15.50%
0
Parshall
1,306,143
465
2,809
-2.86%
1,103,965
468
2,359
-15.48%
3
Todd 
126,688
56
2,262
-2.26%
107,164
56
1,914
-15.41%
0
Bell
213,471
71
3,007
34.35%
180,628
71
2,544
-15.39%
0
Clear Creek
141,406
75
1,885
6.58%
120,974
75
1,613
-14.45%
0
Park
51,914
36
1,442
3.36%
44,489
36
1,236
-14.30%
0
Bear Den
167,374
44
3,804
2.38%
144,574
44
3,286
-13.62%
0
Eagle Nest
483,713
93
5,201
-5.69%
417,875
92
4,542
-13.61%
-1

Production In Top Bakken Oil Fields, February, 2017, Data -- Greatest Increase In Field Production Month-Over-Month

Disclaimer: in a spreadsheet done manually there are likely to be typographical and factual errors. If this information is important to you, go to the source. Do not quote me on this data.

January, 2017, and February, 2017, data for top producing oil fields in the Bakken. Ranked by greatest increase in field production, month-over-month, column 9. (Note: I double checked Camel Butte. Camel Butte added one well and production for the field increased more than 100%.)

Twin Valley oil field is tracked here and has been updated.


Field
Jan 2017 Prod
Jan Wells
Jan Oil / Well / Month
Percent Change Dec-to-Jan
Feb 2017 Prod
Feb Wells
Feb Oil / Well / Month
Percent Change Jan-to-Feb
Change in # of wells
Camel Butte
88,307
36
2,453
12.16%
180,714
37
4,884
104.64%
1
Twin Valley
186,614
21
8,886
24.36%
332,764
31
10,734
78.32%
10
Grinnell
99,679
52
1,917
13.65%
127,616
52
2,454
28.03%
0
Banks
531,011
193
2,751
-5.59%
626,144
199
3,146
17.92%
6
Sand Creek
350,297
93
3,767
99.24%
410,944
94
4,372
17.31%
1
Pembroke
61,661
53
1,163
-1.87%
70,516
55
1,282
14.36%
2
Blue Buttes
741,587
152
4,879
26.78%
839,739
157
5,349
13.24%
5
Alger 
574,441
324
1,773
16.58%
647,532
326
1,986
12.72%
2
Haystack Butte
85,561
57
1,501
-7.79%
94,833
59
1,607
10.84%
2
Elidah
177,581
58
3,062
15.14%
193,377
58
3,334
8.90%
0
Reunion Bay 
669,751
160
4,186
-12.58%
727,591
167
4,357
8.64%
7
Dollar Joe
126,606
93
1,361
-3.91%
137,219
93
1,475
8.38%
0
Big Bend
392,183
120
3,268
21.65%
424,498
122
3,479
8.24%
2
Grail
720,811
182
3,961
8.27%
777,902
188
4,138
7.92%
6
Fayette
87,254
49
1,781
-14.42%
93,323
49
1,905
6.96%
0
Corral Creek
544,696
151
3,607
17.63%
579,669
158
3,669
6.42%
7
Antelope-Sanish
681,468
168
4,056
1.95%
725,059
175
4,143
6.40%
7
Ross
75,333
74
1,018
9.54%
80,055
74
1,082
6.27%
0
Painted Woods
59,656
55
1,085
-7.66%
61,433
55
1,117
2.98%
0
Poe
456,181
101
4,517
12.23%
461,908
104
4,441
1.26%
3