Thursday, August 30, 2018

The Road To Denmark -- Reality Struck Home Sooner Than Expected; New Hampshire Helping To Save The World From Global Warming --- August 30, 2018

Texas oil production: drops for first time since February, 2017. The slowdown comes as oil prices in west Texas have fallen to near four-year lows. From SeekingAlpha. This is a pretty cool story -- production drops for free market reasons.
  • the state is not slowing down progress with too many regulations;
  • no war; no terrorists;
  • no policies out of Washington, DC;
  • simply low prices due to production more than infrastructure can accommodate
Denmark: become net oil importer for first time in 25 years. From oilpriceOn May 18, 2013, I wrote:
So, How Did That Renewable Energy Plan Work Out? Europe May Be The Only CONTINENT In The Universe To Depend On Imported Energy. 
Backtrack to: Europe At A Tipping Point, one of "the big stories" that I have been following since the beginning of the blog. Back to the oilprice article:
For the first time since 1993, Denmark is on track to become a net oil importer this year, as oil production in the Danish part of the North Sea will be lower than the country’s consumption, the Danish Energy Agency said on Thursday, revising down its oil production forecasts.
The new forecast by the agency is a change from last year’s assessment and forecasts, which had expected that Denmark would continue to be a net oil exporter for a number of years.
Now, the country is expected to be a net oil exporter for a single year, in 2024, when oil production is forecast to exceed consumption due to expected start-up of new developments.
Comment: wow.
New Hampshire? How is renewable energy working out for you? Folks there are paying some of the highest energy bills in the country. Faux environmentalists stopping natural gas pipelines and state government mandating renewable energy. Recipe for disaster. And I thought New Englanders were known for common sense.

Back to the Bakken

Active rigs:

Active Rigs62543376194

Three new permits:
  • Operator: Newfield
    Field: Siverston (McKenzie)
    Comments: Newfield has permits for a 2-well pad and a third well either near or on the same pad (a Goliath well and two Dahl wells) in section 5-150-98
One permit renewed:
  • BR, a State Dodge permit in McKenzie County
Four producing wells (DUCs) reported as completed:
  • 32701, 443, Peregrine Petroleum Partners, Burlington Fee 9-16-1H, Hay Draw, t7/1; cum --
  • 33609, 1,387, Hess, SC-Gene-154-98-0805H, Truax, t8/18; cum --
  • 34621, 3,298, Whiting, Loken 41-17-2H, Pembroke, t7/18; cum --
  • 33260,  A, Wold Federal 44-7-2H, Banks, 4 sections, t--; cum --

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