Week 37: September 9, 2018 -- September 15, 2018

July, 2018, oil and natural gas data for North Dakota: four new all-time records set.

• crude oil production; sets an all-time record and jumps 3.4% month-over-month
• natural gas production: sets an all-time record, and even out-producing the largest gas field in the Mediterranean; in the Bakken, natural gas is an irritating and dangerous by-product
• boepd production: sets an all-time record
• number of producing wells in North Dakota: despite a quarter of the number of active rigs in July compared to the height of the boom, North Dakota has more producing wells than ever
• other notes of interest:
• there are still about 900 DUCs -- wells that have been drilled to depth but for some reason or another, the oil company has decided to postpone completion of the well -- many, many reasons will be given, but I consider the companies simply "managing their assets"
• the number of inactive wells actually increased slightly month-over-month -- this is also not unexpected in Bakken 2.5

US economy: setting all-time records; small business optimism breaks all-time break; exceeds that seen during the Reagan administration; Trump economy making Connecticut great again;

International

• Saudi Arabia: internal bickering likely scuttled the Aramco IPO once and for all (it would have died regardless); will focus on petrochemical dynasty
  
• Global warming: NASA confirms that 410 is the "Goldilocks" number: CO2 greening the earth; Africa a beneficiary of the phenomenon

National 

• US gasoline demand: finally shows life
• US crude oil draws: huge; off to the races -- WTI flirts with $70; and, here;
• Official but old news: US is now #1 producer of crude oil in the universe, having surpassed Russia a month or so ago  
• California bucking the trend: relying more and more on Saudi oil
• Permian sets a record: $95,001 / acre

Canada

• The big picture: having now struck out 4/4 in getting pipelines approved, Trudeau suggests looking at the big picture;

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Back to the Bakken

Operations
Record IP in the Bakken?
CLR's Mountain Gap wells simply amazing; updated earlier;
Jump in production; and, here;
EOG well hits one-million-bbl threshold; and, another one here;
New activity regarding the CLR Whitman wells?

Bakken 2.5
Re-fracking: MRO in the Bailey  

CBR
LNG?

Flaring:
Worsens in North Dakota; NDIC authorizes a study to consider underground storage of NG

Natural gas processing:
ONEOK looking at the biggest plant yet?http://themilliondollarway.blogspot.com/2018/09/oneok-north-dakota-update-september-8.html

Other formations
White Rock Oil & Gas re-enters, re-completes an old Duperow well
Random update of an old, old CLR North Red River B well
Targeting the Madison

Refineries
Administrative judge opines the "refinery near the park" can go forward

Bakken economy (link here)
Multi-family housing (apartment units, 4-plexes, duplexes) reach capacity in Williston
United Airlines will add a fourth daily Denver-to-Williston flight
Williston school districts enrollments continue to climb
Two new veterinarians set up practice in Watford City